Global Blood Therapeutics (NASDAQ:GBT) Given a $74.00 Price Target by Wedbush Analysts

Wedbush set a $74.00 price target on Global Blood Therapeutics (NASDAQ:GBTGet Rating) in a research report report published on Monday morning, Stock Target Advisor reports.

A number of other analysts have also recently issued reports on the stock. StockNews.com upgraded shares of Global Blood Therapeutics from a sell rating to a hold rating in a research note on Thursday, May 5th. Cantor Fitzgerald started coverage on shares of Global Blood Therapeutics in a research note on Thursday, April 28th. They issued a buy rating and a $75.00 target price for the company. HC Wainwright reiterated a buy rating and issued a $75.00 target price on shares of Global Blood Therapeutics in a research note on Thursday, February 24th. Cowen dropped their price target on shares of Global Blood Therapeutics from $72.00 to $67.00 in a research report on Thursday, February 24th. Finally, Morgan Stanley lifted their price target on shares of Global Blood Therapeutics from $28.00 to $31.00 and gave the company an equal weight rating in a research report on Monday, February 28th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $58.67.

Shares of GBT opened at $30.93 on Monday. The company has a debt-to-equity ratio of 4.34, a current ratio of 8.52 and a quick ratio of 7.74. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of -6.35 and a beta of 1.11. The company has a 50-day moving average of $27.77 and a two-hundred day moving average of $29.58. Global Blood Therapeutics has a one year low of $21.65 and a one year high of $40.69.

Global Blood Therapeutics (NASDAQ:GBTGet Rating) last posted its quarterly earnings results on Wednesday, May 4th. The company reported ($1.26) EPS for the quarter, topping the consensus estimate of ($1.29) by $0.03. The business had revenue of $55.20 million during the quarter, compared to analysts’ expectations of $56.13 million. Global Blood Therapeutics had a negative net margin of 146.82% and a negative return on equity of 129.74%. The firm’s quarterly revenue was up 41.5% compared to the same quarter last year. During the same period last year, the company posted ($1.21) earnings per share. Analysts anticipate that Global Blood Therapeutics will post -4.64 earnings per share for the current year.

In other Global Blood Therapeutics news, Director Philip A. Pizzo sold 1,260 shares of the business’s stock in a transaction on Tuesday, June 21st. The shares were sold at an average price of $27.25, for a total value of $34,335.00. Following the sale, the director now owns 9,112 shares of the company’s stock, valued at approximately $248,302. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 4.70% of the company’s stock.

Several large investors have recently modified their holdings of the company. Eubel Brady & Suttman Asset Management Inc. acquired a new position in Global Blood Therapeutics during the 1st quarter worth about $17,322,000. Janus Henderson Group PLC lifted its position in Global Blood Therapeutics by 1.7% during the 3rd quarter. Janus Henderson Group PLC now owns 6,272,682 shares of the company’s stock worth $159,826,000 after buying an additional 104,532 shares in the last quarter. Vanguard Group Inc. lifted its position in Global Blood Therapeutics by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 6,024,262 shares of the company’s stock worth $208,680,000 after buying an additional 31,120 shares in the last quarter. Perceptive Advisors LLC lifted its position in Global Blood Therapeutics by 6.1% during the 3rd quarter. Perceptive Advisors LLC now owns 4,407,399 shares of the company’s stock worth $112,300,000 after buying an additional 254,710 shares in the last quarter. Finally, State Street Corp raised its holdings in Global Blood Therapeutics by 9.0% during the 1st quarter. State Street Corp now owns 3,456,012 shares of the company’s stock worth $119,716,000 after purchasing an additional 284,877 shares during the last quarter.

Global Blood Therapeutics Company Profile (Get Rating)

Global Blood Therapeutics, Inc, a biopharmaceutical company, engages in the discovery, development, and delivery of treatments for underserved patient communities with sickle cell disease (SCD). The company offers Oxbryta tablets, an oral, once-daily therapy for SCD. It also evaluates the safety and pharmacokinetics of single and multiple doses of Oxbryta in a Phase II a clinical trial of adolescent and pediatric patients with SCD.

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Analyst Recommendations for Global Blood Therapeutics (NASDAQ:GBT)

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