Global Blood Therapeutics, Inc. (GBT) Stock Rating Lowered by BidaskClub

Global Blood Therapeutics, Inc. (NASDAQ:GBT) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a report released on Tuesday.

Several other equities analysts also recently issued reports on the stock. SunTrust Banks, Inc. initiated coverage on shares of Global Blood Therapeutics in a research note on Monday, April 17th. They set a “buy” rating and a $56.00 price target for the company. Cantor Fitzgerald started coverage on shares of Global Blood Therapeutics in a research note on Wednesday, March 15th. They set an “overweight” rating and a $61.00 target price for the company. Wedbush reissued an “outperform” rating and set a $73.00 target price on shares of Global Blood Therapeutics in a research note on Tuesday, May 2nd. Zacks Investment Research downgraded shares of Global Blood Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, March 16th. Finally, Roth Capital set a $47.00 target price on shares of Global Blood Therapeutics and gave the stock a “buy” rating in a research note on Monday, March 20th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $50.37.

Analyst Recommendations for Global Blood Therapeutics (NASDAQ:GBT)

Global Blood Therapeutics (NASDAQ:GBT) traded up 9.78% during mid-day trading on Tuesday, reaching $29.75. 1,296,994 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $29.25 and a 200-day moving average of $25.69. The firm’s market cap is $1.30 billion. Global Blood Therapeutics has a 12 month low of $13.35 and a 12 month high of $41.15.

Global Blood Therapeutics (NASDAQ:GBT) last released its quarterly earnings results on Monday, May 1st. The company reported ($0.60) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.71) by $0.11. During the same quarter in the prior year, the company posted ($0.56) EPS. Analysts anticipate that Global Blood Therapeutics will post ($2.55) earnings per share for the current year.

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In other news, major shareholder Robert I. Tepper sold 31,225 shares of Global Blood Therapeutics stock in a transaction dated Thursday, April 6th. The shares were sold at an average price of $33.23, for a total transaction of $1,037,606.75. Following the completion of the transaction, the insider now directly owns 229,773 shares in the company, valued at $7,635,356.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 6.10% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Daiwa SB Investments Ltd. acquired a new position in shares of Global Blood Therapeutics during the first quarter worth about $120,000. Great West Life Assurance Co. Can acquired a new position in shares of Global Blood Therapeutics during the first quarter worth about $129,000. Asset Management One Co. Ltd. acquired a new position in shares of Global Blood Therapeutics during the first quarter worth about $130,000. Legal & General Group Plc boosted its position in shares of Global Blood Therapeutics by 10.1% in the first quarter. Legal & General Group Plc now owns 4,816 shares of the company’s stock worth $178,000 after buying an additional 440 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in shares of Global Blood Therapeutics during the first quarter worth about $230,000. Hedge funds and other institutional investors own 71.65% of the company’s stock.

About Global Blood Therapeutics

Global Blood Therapeutics, Inc is a clinical-stage biopharmaceutical company. The Company is engaged in discovering, developing and commercializing therapeutics to treat blood-based disorders. The Company is developing its initial product candidate, GBT440, as an oral, once-daily therapy for sickle cell disease (SCD).

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