BTIG Research reaffirmed their buy rating on shares of G1 Therapeutics (NASDAQ:GTHX) in a research note issued to investors on Wednesday morning. The firm currently has a $48.00 price objective on the stock.
“On Monday before market open, G1 announced positive topline data from the Phase 2a study of trilaciclib in combination with etoposide + carboplatin for patients with Extensive-stage SCLC (1st Line). We think that the Phase 2a study hit the important safety endpoints and set the company up well for later-line data with SCLC and metastatic Triple Negative Breast Cancer expected during 2H2018. Importantly, mgmt. indicated that they would use the strength of the 1st Line SCLC Phase2a data to begin discussions with regulators, which could accelerate the timeline versus awaiting data from the other studies during 2H2018. We reiterate our Buy rating and raise our PT to $48 from $38 as the topline release de-risks our assumptions around SCLC.”,” the firm’s analyst commented.
A number of other equities analysts also recently commented on GTHX. Cowen restated a buy rating on shares of G1 Therapeutics in a research note on Wednesday, November 8th. BidaskClub upgraded shares of G1 Therapeutics from a sell rating to a hold rating in a research note on Wednesday, January 3rd. JPMorgan Chase & Co. upped their target price on shares of G1 Therapeutics to $30.00 in a research note on Monday, February 5th. Finally, Zacks Investment Research downgraded shares of G1 Therapeutics from a hold rating to a sell rating in a research note on Thursday, February 8th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $36.60.
G1 Therapeutics (NASDAQ:GTHX) last issued its earnings results on Wednesday, February 21st. The company reported ($0.60) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.58) by ($0.02). sell-side analysts anticipate that G1 Therapeutics will post -2.47 earnings per share for the current fiscal year.
In other news, insider Rajesh Malik sold 3,776 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $22.96, for a total value of $86,696.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark A. Velleca sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $20.01, for a total transaction of $150,075.00. The disclosure for this sale can be found here. Insiders sold a total of 217,302 shares of company stock valued at $4,314,417 in the last ninety days.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Franklin Resources Inc. lifted its position in shares of G1 Therapeutics by 10.1% in the 4th quarter. Franklin Resources Inc. now owns 1,535,616 shares of the company’s stock worth $30,467,000 after purchasing an additional 141,000 shares during the period. BlackRock Inc. lifted its position in shares of G1 Therapeutics by 113.5% in the 4th quarter. BlackRock Inc. now owns 745,445 shares of the company’s stock worth $14,790,000 after purchasing an additional 396,215 shares during the period. Geode Capital Management LLC lifted its position in shares of G1 Therapeutics by 9.3% in the 4th quarter. Geode Capital Management LLC now owns 94,366 shares of the company’s stock worth $1,872,000 after purchasing an additional 8,061 shares during the period. Chartwell Investment Partners LLC lifted its position in shares of G1 Therapeutics by 5.0% in the 3rd quarter. Chartwell Investment Partners LLC now owns 92,558 shares of the company’s stock worth $2,303,000 after purchasing an additional 4,388 shares during the period. Finally, Vanguard Group Inc. purchased a new stake in shares of G1 Therapeutics in the 2nd quarter worth approximately $1,291,000. 47.54% of the stock is owned by hedge funds and other institutional investors.
G1 Therapeutics Company Profile
G1 Therapeutics, Inc is a United States-based clinical-stage biopharmaceutical company. The Company is engaged in developing small-molecule therapies for the treatment of cancer. Its two clinical-stage candidates are trilaciclib (G1T28) and G1T38, which are potent, selective inhibitors of the validated kinase targets CDK4/6.
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