Needham analyst Chad Messer assigned a Buy rating to G1 Therapeutics (GTHX) today and set a price target of $74.00. The company’s shares closed last Wednesday at $11.90, close to its 52-week low of $8.80.
According to TipRanks.com, Messer is a 5-star analyst with an average return of 10.2% and a 47.0% success rate. Messer covers the Healthcare sector, focusing on stocks such as Phasebio Pharmaceuticals, Aeglea Biotherapeutics, and Ionis Pharmaceuticals.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for G1 Therapeutics with a $67.33 average price target.
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Based on G1 Therapeutics’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $2.14 million and GAAP net loss of $31.21 million. In comparison, last year the company had a GAAP net loss of $30.69 million.
Based on the recent corporate insider activity of 7 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of GTHX in relation to earlier this year.
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G1 Therapeutics, Inc. engages in the development of small molecule therapeutics for the treatment of patients with cancer. Its products pipeline includes trilaciclib, rintodestrant, and lerociclib. The company was founded by Kwok-Kin Wong and Norman E. Sharpless on May 19, 2008 and is headquartered in Research Triangle Park, NC.
