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

Zacks Investment Research upgraded shares of GT Biopharma (OTCMKTS:GTBP) from a hold rating to a buy rating in a research note published on Thursday morning, Zacks.com reports. They currently have $8.50 target price on the stock.

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. “

GTBP has been the topic of several other reports. B. Riley reiterated a buy rating and set a $26.00 price objective (up 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 price objective on shares of GT Biopharma in a research note on Tuesday, September 14th.

OTCMKTS GTBP opened at $7.79 on Thursday. GT Biopharma has a twelve month low of $2.55 and a twelve month high of $19.73. The stock has a market cap of $164.59 million, a price-to-earnings ratio of -1.21 and a beta of 0.34. The firm’s 50 day moving average price is $9.94 and its two-hundred day moving average price is $11.42.

GT Biopharma (OTCMKTS:GTBP) last posted its quarterly earnings data on Monday, August 23rd. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.13. On average, equities research analysts expect that GT Biopharma will post -1.57 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the business. Advisor Group Holdings Inc. lifted its position in GT Biopharma by 108.3% during the 2nd quarter. Advisor Group Holdings Inc. now owns 2,943 shares of the company’s stock worth $45,000 after acquiring an additional 1,530 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new position in GT Biopharma during the 2nd quarter worth $29,000. Legal & General Group Plc acquired a new position in shares of GT Biopharma during the second quarter valued at about $39,000. UBS Group AG acquired a new position in shares of GT Biopharma during the first quarter valued at about $27,000. Finally, Citigroup Inc. acquired a new position in shares of GT Biopharma during the second quarter valued at about $95,000. 21.37% of the stock is owned by hedge funds and other institutional investors.

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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