Needham & Company LLC Reiterates Buy Rating for G1 Therapeutics (NASDAQ:GTHX)

G1 Therapeutics (NASDAQ:GTHX - Get Free Report)'s stock had its "buy" rating reiterated by investment analysts at Needham & Company LLC in a report released on Friday, Benzinga reports. They presently have a $12.00 price target on the stock. Needham & Company LLC's target price suggests a potential upside of 163.74% from the stock's current price.

Separately, Wedbush restated an "outperform" rating and set a $5.00 price objective (up previously from $4.00) on shares of G1 Therapeutics in a research report on Wednesday, February 28th.

G1 Therapeutics Stock Performance

Shares of GTHX stock traded down $0.13 during trading hours on Friday, reaching $4.55. The stock had a trading volume of 563,203 shares, compared to its average volume of 1,383,058. The company has a debt-to-equity ratio of 1.46, a current ratio of 3.87 and a quick ratio of 3.45. G1 Therapeutics has a twelve month low of $1.08 and a twelve month high of $5.00. The firm has a 50-day simple moving average of $3.66 and a 200-day simple moving average of $2.76. The firm has a market capitalization of $237.51 million, a PE ratio of -4.79 and a beta of 1.73.

G1 Therapeutics (NASDAQ:GTHX - Get Free Report) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.21) earnings per share for the quarter, topping analysts' consensus estimates of ($0.27) by $0.06. G1 Therapeutics had a negative net margin of 58.13% and a negative return on equity of 106.04%. The business had revenue of $14.87 million for the quarter, compared to analysts' expectations of $12.83 million. During the same quarter last year, the company earned ($0.73) EPS. As a group, equities analysts forecast that G1 Therapeutics will post -0.64 earnings per share for the current year.

Insider Activity

In other news, insider Rajesh Malik sold 28,600 shares of the firm's stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $4.62, for a total transaction of $132,132.00. Following the completion of the transaction, the insider now owns 169,938 shares in the company, valued at approximately $785,113.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 8.23% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in GTHX. State Street Corp boosted its holdings in shares of G1 Therapeutics by 1,038.1% in the third quarter. State Street Corp now owns 1,618,381 shares of the company's stock worth $20,214,000 after buying an additional 1,476,175 shares during the period. FMR LLC boosted its holdings in shares of G1 Therapeutics by 246.3% during the first quarter. FMR LLC now owns 964,592 shares of the company's stock worth $2,585,000 after purchasing an additional 686,025 shares during the period. Millennium Management LLC boosted its holdings in shares of G1 Therapeutics by 486.3% during the second quarter. Millennium Management LLC now owns 728,120 shares of the company's stock worth $3,597,000 after purchasing an additional 603,926 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of G1 Therapeutics by 531.9% during the fourth quarter. Renaissance Technologies LLC now owns 647,100 shares of the company's stock worth $3,514,000 after purchasing an additional 544,700 shares during the period. Finally, abrdn plc acquired a new stake in shares of G1 Therapeutics during the fourth quarter worth approximately $1,293,000. 24.21% of the stock is currently owned by institutional investors and hedge funds.

G1 Therapeutics Company Profile

G1 Therapeutics, Inc, a commercial-stage biopharmaceutical company, engages in the discovery, development, and commercialization of small molecule therapeutics for the treatment of patients with cancer in the United States. The company offers COSELA, which helps to decrease incidence of chemotherapy-induced myelosuppression in adult patients treated with a platinum/etoposide-containing regimen or topotecan-containing regimen for extensive stage small cell lung cancer.