GRAIL (NASDAQ:GRAL) Price Target Raised to $180.00

GRAIL (NASDAQ:GRAL) had its price objective boosted by TD Cowen from $88.00 to $180.00 in a report released on Tuesday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities research analysts have also commented on GRAL. Guggenheim raised their price target on GRAIL from $75.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, October 1st. Royal Bank Of Canada assumed coverage on GRAIL in a research report on Thursday, September 17th. They issued a “sector perform” rating and a $84.00 price objective for the company. Wall Street Zen upgraded GRAIL from a “sell” rating to a “hold” rating in a research report on Sunday, September 13th. Canaccord Genuity Group increased their target price on GRAIL from $80.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, September 28th. Finally, Morgan Stanley increased their target price on GRAIL from $60.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Monday. Five investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $119.80.

GRAIL Stock Down 3.0%

Shares of GRAIL stock opened at $135.46 on Tuesday. GRAIL has a 12 month low of $41.50 and a 12 month high of $166.48. The stock’s fifty day simple moving average is $97.82 and its 200 day simple moving average is $74.70.

GRAIL (NASDAQ:GRAL) last posted its earnings results on Wednesday, August 5th. The company reported ($2.56) earnings per share for the quarter, topping the consensus estimate of ($2.66) by $0.10. GRAIL had a negative return on equity of 15.88% and a negative net margin of 236.95%. The firm had revenue of $44.69 million for the quarter, compared to analyst estimates of $42.39 million. As a group, research analysts anticipate that GRAIL will post -10.41 earnings per share for the current year.

Insider Transactions at GRAIL

In other news, insider Andrew Partridge sold 7,873 shares of the firm’s stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $146.39, for a total value of $1,152,528.47. Following the completion of the transaction, the insider owned 155,865 shares in the company, valued at $22,817,077.35. This trade represents a 4.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joshua Ofman sold 61,452 shares of the firm’s stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $97.74, for a total value of $6,006,318.48. Following the completion of the transaction, the chief executive officer owned 362,271 shares of the company’s stock, valued at $35,408,367.54. The trade was a 14.50% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 109,944 shares of company stock worth $12,095,805 in the last three months. Insiders own 1.83% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GRAL. BlackRock Inc. increased its position in shares of GRAIL by 20.5% during the 2nd quarter. BlackRock Inc. now owns 3,577,075 shares of the company’s stock worth $244,207,000 after purchasing an additional 608,539 shares during the last quarter. Baker BROS. Advisors LP boosted its holdings in shares of GRAIL by 27.9% in the 4th quarter. Baker BROS. Advisors LP now owns 2,085,333 shares of the company’s stock valued at $178,484,000 after buying an additional 455,208 shares during the last quarter. State Street Corp boosted its holdings in shares of GRAIL by 26.1% in the 2nd quarter. State Street Corp now owns 2,385,514 shares of the company’s stock valued at $162,859,000 after buying an additional 493,621 shares during the last quarter. Primecap Management Co. CA acquired a new stake in shares of GRAIL in the 2nd quarter valued at approximately $148,836,000. Finally, Bank of America Corp DE acquired a new stake in shares of GRAIL in the 2nd quarter valued at approximately $49,389,000.

About GRAIL

GRAIL, Inc is a healthcare company focused on developing blood-based technologies for the early detection of cancer. Its goal is to identify cancer signals before symptoms appear, when treatment may be more effective, by applying genomics, machine learning and other analytical methods to blood samples.

The company’s primary product is the Galleri multi-cancer early detection test, a prescription laboratory-developed test designed to screen for signals associated with multiple types of cancer from a single blood draw.