Grifols (NASDAQ:GRFS) Shares Gap Up - Time to Buy?

Grifols, S.A. (NASDAQ:GRFS - Get Free Report) shares gapped up before the market opened on Wednesday . The stock had previously closed at $6.96, but opened at $7.22. Grifols shares last traded at $7.15, with a volume of 437,796 shares.

Analysts Set New Price Targets

Separately, Morgan Stanley initiated coverage on Grifols in a research report on Wednesday, February 12th. They set an "overweight" rating for the company.

Grifols Stock Performance

The company has a market capitalization of $4.50 billion, a PE ratio of 5.59 and a beta of 0.41. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.79 and a current ratio of 2.26. The stock's fifty day simple moving average is $7.53 and its 200-day simple moving average is $7.97.

Institutional Trading of Grifols

Several hedge funds and other institutional investors have recently bought and sold shares of GRFS. Versant Capital Management Inc purchased a new position in shares of Grifols during the 1st quarter worth $28,000. Principal Street Partners LLC acquired a new stake in Grifols in the 4th quarter worth about $84,000. Vident Advisory LLC grew its holdings in Grifols by 55.5% in the 4th quarter. Vident Advisory LLC now owns 29,662 shares of the biotechnology company's stock valued at $221,000 after buying an additional 10,590 shares during the period. Soleus Capital Management L.P. increased its stake in shares of Grifols by 46.1% during the 4th quarter. Soleus Capital Management L.P. now owns 6,605,425 shares of the biotechnology company's stock valued at $49,144,000 after acquiring an additional 2,083,722 shares during the last quarter. Finally, Tidal Investments LLC lifted its holdings in shares of Grifols by 49.3% during the 4th quarter. Tidal Investments LLC now owns 24,638 shares of the biotechnology company's stock worth $183,000 after acquiring an additional 8,138 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.