JPMorgan Chase & Co. Cuts Grifols (NASDAQ:GRFS) Price Target to $10.00

Grifols (NASDAQ:GRFS) had its price target decreased by JPMorgan Chase & Co. from $10.30 to $10.00 in a research note released on Monday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the biotechnology company’s stock.

Other equities research analysts have also recently issued research reports about the company. Zacks Research cut Grifols from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 6th. Wall Street Zen upgraded Grifols from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 15th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Grifols in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $10.00.

Grifols Stock Performance

NASDAQ GRFS opened at $8.95 on Monday. The stock has a market capitalization of $6.15 billion, a price-to-earnings ratio of 47.11, a PEG ratio of 0.38 and a beta of 0.67. The stock has a 50-day moving average of $9.07 and a 200 day moving average of $9.42. The company has a current ratio of 2.48, a quick ratio of 0.93 and a debt-to-equity ratio of 1.20. Grifols has a twelve month low of $6.19 and a twelve month high of $11.14.

Institutional Trading of Grifols

Several hedge funds have recently made changes to their positions in GRFS. Brandes Investment Partners LP grew its position in shares of Grifols by 8.9% in the 2nd quarter. Brandes Investment Partners LP now owns 28,035,461 shares of the biotechnology company’s stock valued at $253,441,000 after buying an additional 2,294,113 shares during the last quarter. Vinva Investment Management Ltd acquired a new position in Grifols in the second quarter valued at $256,000. Vestmark Advisory Solutions Inc. purchased a new position in shares of Grifols during the second quarter worth about $414,000. Norges Bank acquired a new stake in shares of Grifols during the second quarter worth about $17,538,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Grifols by 13.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,888,176 shares of the biotechnology company’s stock valued at $17,069,000 after purchasing an additional 219,724 shares during the last quarter.

Grifols Company Profile

Grifols, SA operates as a plasma therapeutic company in Spain, the United States, Canada, and internationally. The company provides immunoglobulin to treat immunodeficiencies; albumin used to restore circulatory volume and protein loss in pathophysiological conditions, such as liver cirrhosis, cardiocirculatory failure, trauma and severe burns; alpha-1 proteinase inhibitor, a plasma protein, used to treat a genetic disease known as alpha-1; factorVIII/von Willerbrand factor and factor IX, clotting factors for the treatment of hemophilia A and von Willebrand’s disease, as well as hemophilia B; antithrombin III to treat hereditary antithrombin deficiency; Fostamatinib, a spleen tyrosine kinase inhibitor; combination of fibrinogen and enzyme thrombin that acts as a biological sealant to control surgical bleeding; and plasma exchange with albumin used to treat Alzheimer’s disease.