Grifols (NASDAQ:GRFS) Shares Gap Up – Here’s Why

Grifols, S.A. (NASDAQ:GRFS)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $8.27, but opened at $8.67. Grifols shares last traded at $8.69, with a volume of 115,500 shares.

Analysts Set New Price Targets

Separately, Morgan Stanley began coverage on Grifols in a research note on Wednesday, February 12th. They set an “overweight” rating on the stock.

Grifols Trading Up 4.8 %

The company has a market cap of $5.96 billion, a P/E ratio of 7.42 and a beta of 0.40. The business’s 50-day moving average price is $7.43 and its 200 day moving average price is $8.14. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.79 and a current ratio of 2.26.

Hedge Funds Weigh In On Grifols

A number of institutional investors have recently bought and sold shares of the business. Capital World Investors boosted its stake in shares of Grifols by 0.7% during the 4th quarter. Capital World Investors now owns 21,134,230 shares of the biotechnology company’s stock worth $157,239,000 after acquiring an additional 154,358 shares during the period. Brandes Investment Partners LP boosted its position in Grifols by 3.0% during the fourth quarter. Brandes Investment Partners LP now owns 20,496,093 shares of the biotechnology company’s stock worth $152,491,000 after purchasing an additional 592,096 shares during the period. Black Creek Investment Management Inc. increased its holdings in shares of Grifols by 1.3% in the fourth quarter. Black Creek Investment Management Inc. now owns 11,251,960 shares of the biotechnology company’s stock valued at $83,715,000 after purchasing an additional 141,615 shares during the last quarter. Soleus Capital Management L.P. increased its holdings in shares of Grifols by 46.1% in the fourth quarter. Soleus Capital Management L.P. now owns 6,605,425 shares of the biotechnology company’s stock valued at $49,144,000 after purchasing an additional 2,083,722 shares during the last quarter. Finally, Whitebox Advisors LLC raised its position in shares of Grifols by 56.2% in the third quarter. Whitebox Advisors LLC now owns 4,221,483 shares of the biotechnology company’s stock valued at $37,487,000 after purchasing an additional 1,519,093 shares during the period.

About Grifols

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.