G1 Therapeutics (NASDAQ:GTHX) had its price objective lifted by Needham & Company LLC from $42.00 to $60.00 in a report published on Friday morning, Marketbeat Ratings reports. The brokerage currently has a buy rating on the stock.
Several other analysts have also recently weighed in on GTHX. Zacks Investment Research raised shares of G1 Therapeutics from a sell rating to a hold rating in a report on Tuesday, May 15th. ValuEngine raised shares of G1 Therapeutics from a sell rating to a hold rating in a report on Wednesday, May 2nd. BidaskClub cut shares of G1 Therapeutics from a buy rating to a hold rating in a report on Saturday, February 3rd. Finally, JPMorgan Chase raised their target price on shares of G1 Therapeutics to $30.00 in a report on Monday, February 5th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $41.80.
Shares of GTHX opened at $50.89 on Friday. The stock has a market cap of $1.66 billion and a PE ratio of -14.25. G1 Therapeutics has a 1 year low of $12.04 and a 1 year high of $52.76.
G1 Therapeutics (NASDAQ:GTHX) last issued its earnings results on Thursday, May 3rd. The company reported ($0.70) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.63) by ($0.07). research analysts expect that G1 Therapeutics will post -2.66 EPS for the current fiscal year.
In other G1 Therapeutics news, insider Rajesh Malik sold 3,776 shares of the stock in a transaction that occurred on Thursday, March 15th. The shares were sold at an average price of $38.18, for a total value of $144,167.68. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Mark A. Velleca sold 7,500 shares of the stock in a transaction that occurred on Monday, April 16th. The shares were sold at an average price of $36.00, for a total transaction of $270,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,026 shares of company stock worth $843,033. 15.92% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the business. Franklin Resources Inc. increased its stake in G1 Therapeutics by 10.1% in the fourth quarter. Franklin Resources Inc. now owns 1,535,616 shares of the company’s stock valued at $30,467,000 after purchasing an additional 141,000 shares during the last quarter. BlackRock Inc. increased its stake in G1 Therapeutics by 113.5% in the fourth quarter. BlackRock Inc. now owns 745,445 shares of the company’s stock valued at $14,790,000 after purchasing an additional 396,215 shares during the last quarter. Swiss National Bank purchased a new position in G1 Therapeutics in the fourth quarter valued at approximately $286,000. Virtus Fund Advisers LLC purchased a new position in G1 Therapeutics in the fourth quarter valued at approximately $350,000. Finally, Ellington Management Group LLC purchased a new position in G1 Therapeutics in the fourth quarter valued at approximately $294,000. Institutional investors own 60.93% of the company’s stock.
About G1 Therapeutics
G1 Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of novel small molecule therapeutics for the treatment of patients with cancer in the United States. It is developing trilaciclib, an intravenous cyclin-dependent kinases (CDK) 4/6 inhibitor that is in Phase 1b/2a clinical trials for patients with small cell lung cancer, as well as Phase 2 clinical trial for patients with first-/second-/third-line metastatic triple-negative breast cancer; G1T38, an oral CDK4/6 inhibitor that is Phase 1b/2a clinical trials for the treatment of breast cancer; and G1T48, an oral selective estrogen receptor degrader, which is in preclinical development.
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