Global Blood Therapeutics, Inc. (NASDAQ:GBT) has been given a $51.00 price target by stock analysts at Needham & Company LLC in a research report issued on Wednesday. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price target indicates a potential upside of 59.38% from the stock’s current price.
A number of other research analysts have also commented on the company. Morgan Stanley reaffirmed an “overweight” rating on shares of Global Blood Therapeutics in a report on Tuesday, July 11th. BidaskClub lowered Global Blood Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Wedbush reissued an “ourperform” rating and set a $73.00 target price on shares of Global Blood Therapeutics in a report on Monday, September 18th. Oppenheimer Holdings, Inc. started coverage on Global Blood Therapeutics in a report on Friday, August 4th. They set an “outperform” rating and a $53.00 target price on the stock. Finally, Zacks Investment Research raised Global Blood Therapeutics from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a report on Tuesday, October 10th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $54.08.
Shares of Global Blood Therapeutics (NASDAQ:GBT) opened at 32.00 on Wednesday. The firm’s 50-day moving average is $29.87 and its 200-day moving average is $29.27. Global Blood Therapeutics has a 1-year low of $13.35 and a 1-year high of $41.15. The firm’s market cap is $1.40 billion.
Global Blood Therapeutics (NASDAQ:GBT) last issued its quarterly earnings data on Monday, August 7th. The company reported ($0.55) EPS for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.06. During the same period last year, the business earned ($0.58) earnings per share. On average, analysts anticipate that Global Blood Therapeutics will post ($2.44) EPS for the current fiscal year.
In related news, Director Deval L. Patrick sold 27,053 shares of the company’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $29.69, for a total transaction of $803,203.57. Following the completion of the sale, the director now directly owns 12,053 shares in the company, valued at approximately $357,853.57. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Jung Choi sold 3,000 shares of the company’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $30.00, for a total value of $90,000.00. Following the sale, the insider now owns 141,655 shares of the company’s stock, valued at $4,249,650. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,053 shares of company stock valued at $1,081,154. 5.30% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA lifted its position in shares of Global Blood Therapeutics by 694.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,547 shares of the company’s stock worth $124,000 after buying an additional 3,975 shares during the last quarter. Great West Life Assurance Co. Can bought a new stake in shares of Global Blood Therapeutics during the 1st quarter worth $129,000. Asset Management One Co. Ltd. bought a new stake in shares of Global Blood Therapeutics during the 1st quarter worth $130,000. Legal & General Group Plc lifted its position in shares of Global Blood Therapeutics by 10.1% during the 1st quarter. Legal & General Group Plc now owns 4,816 shares of the company’s stock worth $178,000 after buying an additional 440 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new stake in shares of Global Blood Therapeutics during the 2nd quarter worth $211,000. Institutional investors and hedge funds own 86.07% of the company’s stock.
Global Blood Therapeutics Company Profile
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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