Grifols (NASDAQ:GRFS) Trading Up 10.6% – Time to Buy?

Shares of Grifols, S.A. (NASDAQ:GRFS) were up 10.6% during trading on Wednesday . The stock traded as high as $7.88 and last traded at $8.17. Approximately 971,785 shares changed hands during mid-day trading, an increase of 27% from the average daily volume of 765,705 shares. The stock had previously closed at $7.38.

Analyst Ratings Changes

GRFS has been the topic of several recent research reports. Berenberg Bank raised shares of Grifols to a “strong-buy” rating in a research note on Tuesday, October 29th. Morgan Stanley started coverage on shares of Grifols in a report on Wednesday, February 12th. They issued an “overweight” rating on the stock.

Grifols Stock Up 9.0 %

The business has a fifty day simple moving average of $7.36 and a two-hundred day simple moving average of $8.09. The company has a market capitalization of $5.53 billion, a price-to-earnings ratio of 6.88 and a beta of 0.40. The company has a quick ratio of 0.79, a current ratio of 2.26 and a debt-to-equity ratio of 1.11.

Institutional Investors Weigh In On Grifols

A number of institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its holdings in shares of Grifols by 144.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,002,511 shares of the biotechnology company’s stock worth $17,782,000 after buying an additional 1,181,959 shares during the last quarter. Helikon Investments Ltd bought a new position in shares of Grifols during the 4th quarter valued at $580,000. Stifel Financial Corp bought a new position in shares of Grifols during the third quarter valued at about $1,043,000. GAMMA Investing LLC lifted its stake in shares of Grifols by 44.5% in the 4th quarter. GAMMA Investing LLC now owns 4,959 shares of the biotechnology company’s stock valued at $37,000 after acquiring an additional 1,527 shares during the last quarter. Finally, Jane Street Group LLC purchased a new stake in Grifols during the 3rd quarter valued at about $363,000.

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.