G1 Therapeutics (NASDAQ:GTHX) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Friday.
A number of other brokerages have also recently issued reports on GTHX. Zacks Investment Research raised G1 Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, August 8th. Cowen reissued a “buy” rating on shares of G1 Therapeutics in a report on Thursday, August 9th. HC Wainwright reissued a “buy” rating and set a $79.00 price objective on shares of G1 Therapeutics in a report on Monday, September 17th. Needham & Company LLC increased their price objective on G1 Therapeutics to $76.00 and gave the stock a “buy” rating in a report on Tuesday, September 18th. Finally, BTIG Research initiated coverage on G1 Therapeutics in a report on Monday, September 10th. They set a “buy” rating and a $80.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $74.50.
Shares of NASDAQ GTHX opened at $46.90 on Friday. G1 Therapeutics has a one year low of $18.03 and a one year high of $69.57. The firm has a market cap of $1.75 billion, a PE ratio of -13.14 and a beta of -1.02.
G1 Therapeutics (NASDAQ:GTHX) last issued its quarterly earnings data on Wednesday, August 8th. The company reported ($0.64) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.65) by $0.01. As a group, sell-side analysts forecast that G1 Therapeutics will post -2.68 earnings per share for the current fiscal year.
In related news, VP Jennifer K. Moses sold 750 shares of the stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $50.79, for a total transaction of $38,092.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Mark A. Velleca sold 5,000 shares of the stock in a transaction dated Monday, October 15th. The stock was sold at an average price of $41.53, for a total value of $207,650.00. The disclosure for this sale can be found here. Insiders have sold a total of 66,583 shares of company stock worth $3,614,546 in the last three months. 15.92% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. United Services Automobile Association increased its stake in G1 Therapeutics by 2.7% in the 2nd quarter. United Services Automobile Association now owns 70,694 shares of the company’s stock worth $3,072,000 after acquiring an additional 1,882 shares during the last quarter. Northern Trust Corp increased its stake in G1 Therapeutics by 55.0% in the 2nd quarter. Northern Trust Corp now owns 242,495 shares of the company’s stock worth $10,538,000 after acquiring an additional 86,058 shares during the last quarter. Bank of New York Mellon Corp increased its stake in G1 Therapeutics by 1,497.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,262,991 shares of the company’s stock worth $54,890,000 after acquiring an additional 1,183,940 shares during the last quarter. Cowen Inc. bought a new position in G1 Therapeutics in the 2nd quarter worth about $4,778,000. Finally, California Public Employees Retirement System bought a new position in G1 Therapeutics in the 2nd quarter worth about $1,643,000. Institutional investors and hedge funds own 69.17% 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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