GT Biopharma (OTCMKTS:GTBP) Upgraded to Buy at Zacks Investment Research

GT Biopharma (OTCMKTS:GTBP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday, Zacks.com reports. The brokerage presently has a $8.50 price objective on the stock. Zacks Investment Research‘s target price points to a potential upside of 10.25% from the stock’s current price.

According to Zacks, “GT Biopharma Inc. is an immuno-oncology company. It discovers, develops and commercializes drugs of therapeutic molecules for the treatment of cancer, myeloma, osteolytic lesions and other unmet medical needs. GT Biopharma Inc., formerly known as OXIS International Inc., is based in Tampa, Florida. “

Other research analysts have also recently issued research reports about the stock. B. Riley reaffirmed a “buy” rating and issued a $26.00 target price (up previously from $21.00) on shares of GT Biopharma in a research report on Thursday, June 24th. HC Wainwright reaffirmed a “buy” rating and issued a $25.00 target price on shares of GT Biopharma in a research report on Tuesday.

Shares of GTBP traded up $0.04 during mid-day trading on Thursday, reaching $7.71. The stock had a trading volume of 394,469 shares, compared to its average volume of 431,085. GT Biopharma has a 52-week low of $2.55 and a 52-week high of $19.73. The business’s fifty day moving average is $10.08 and its 200 day moving average is $11.31. The firm has a market cap of $162.90 million, a price-to-earnings ratio of -1.20 and a beta of 0.34.

GT Biopharma (OTCMKTS:GTBP) last announced its quarterly earnings data on Monday, August 23rd. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.28) by $0.13. As a group, research analysts forecast that GT Biopharma will post -2.08 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the company. Compagnie Lombard Odier SCmA acquired a new stake in shares of GT Biopharma during the second quarter worth about $233,000. Davy Global Fund Management Ltd acquired a new stake in shares of GT Biopharma during the first quarter worth about $180,000. Geode Capital Management LLC acquired a new stake in shares of GT Biopharma during the first quarter worth about $891,000. Silverleafe Capital Partners LLC acquired a new stake in shares of GT Biopharma during the second quarter worth about $1,612,000. Finally, New York State Common Retirement Fund acquired a new stake in shares of GT Biopharma during the second quarter worth about $316,000. 21.37% of the stock is currently owned by institutional investors and hedge funds.

About GT Biopharma

GT Biopharma, Inc is a clinical stage biopharmaceutical company focused on the development and commercialization of immuno-oncology therapeutic products based proprietary TriKE NK cell engager platform. The TriKE platform is designed to harness and enhance the cancer killing abilities of a patient’s immune system natural killer cells (NK cells).

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