Gritstone Oncology (GRTS) Receives “Buy” Rating from Cowen

Cowen reiterated their buy rating on shares of Gritstone Oncology (NASDAQ:GRTS) in a research report sent to investors on Monday morning, AnalystRatings.com reports.

Several other analysts also recently weighed in on the stock. Raymond James initiated coverage on shares of Gritstone Oncology in a report on Thursday, March 14th. They issued an outperform rating and a $20.00 target price on the stock. HC Wainwright initiated coverage on shares of Gritstone Oncology in a report on Thursday, March 7th. They issued a buy rating and a $17.00 target price on the stock. Berenberg Bank initiated coverage on shares of Gritstone Oncology in a report on Wednesday, March 27th. They issued a buy rating on the stock. Finally, Zacks Investment Research downgraded shares of Gritstone Oncology from a hold rating to a sell rating in a report on Wednesday, May 8th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $22.20.

Shares of NASDAQ:GRTS opened at $11.04 on Monday. The stock has a market capitalization of $321.86 million and a PE ratio of -1.50. Gritstone Oncology has a fifty-two week low of $9.66 and a fifty-two week high of $32.90.

Gritstone Oncology (NASDAQ:GRTS) last issued its earnings results on Monday, May 13th. The company reported ($0.62) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.65) by $0.03. The firm had revenue of $1.35 million during the quarter, compared to analysts’ expectations of $1.20 million. As a group, sell-side analysts expect that Gritstone Oncology will post -2.71 EPS for the current year.

A number of hedge funds have recently added to or reduced their stakes in GRTS. Citigroup Inc. purchased a new stake in Gritstone Oncology during the fourth quarter worth about $28,000. Strs Ohio purchased a new stake in Gritstone Oncology during the fourth quarter worth about $29,000. New York State Common Retirement Fund purchased a new stake in Gritstone Oncology during the first quarter worth about $53,000. American International Group Inc. purchased a new stake in Gritstone Oncology during the fourth quarter worth about $70,000. Finally, Marshall Wace North America L.P. purchased a new stake in Gritstone Oncology during the first quarter worth about $84,000. 59.60% of the stock is currently owned by hedge funds and other institutional investors.

About Gritstone Oncology

Gritstone Oncology Inc, an immuno-oncology company, engages in developing tumor-specific cancer immunotherapies to fight various cancer types. Its lead product candidate is GRANITE-001, which is in Phase I/II clinical trial for the treatment of solid tumors, including metastatic non-small cell lung cancer, as well as gastroesophageal, bladder and microsatellite stable, and colorectal cancers.

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Analyst Recommendations for Gritstone Oncology (NASDAQ:GRTS)

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