Global Blood Therapeutics, Inc. (NASDAQ:GBT) has been assigned a $53.00 price objective by equities research analysts at Oppenheimer Holdings, Inc. in a report released on Monday. The brokerage presently has a “buy” rating on the stock. Oppenheimer Holdings, Inc.’s price objective would suggest a potential upside of 43.44% from the company’s current price.
GBT has been the topic of a number of other reports. BidaskClub cut shares of Global Blood Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Global Blood Therapeutics in a report on Monday, October 23rd. Zacks Investment Research raised shares of 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. Needham & Company LLC started coverage on shares of Global Blood Therapeutics in a report on Wednesday, September 20th. They set a “buy” rating and a $51.00 target price on the stock. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $56.00 target price (up previously from $51.00) on shares of Global Blood Therapeutics in a report on Friday, October 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $55.00.
Shares of Global Blood Therapeutics (NASDAQ GBT) traded down $0.50 during mid-day trading on Monday, hitting $36.95. 59,734 shares of the company were exchanged, compared to its average volume of 1,005,755. Global Blood Therapeutics has a 12 month low of $13.35 and a 12 month high of $43.95.
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In other news, insider Jung Choi sold 3,000 shares of the stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $30.00, for a total value of $90,000.00. Following the transaction, the insider now owns 141,655 shares of the company’s stock, valued at approximately $4,249,650. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Peter Radovich sold 12,500 shares of the stock in a transaction on Monday, October 30th. The stock was sold at an average price of $35.00, for a total transaction of $437,500.00. Following the completion of the transaction, the vice president now directly owns 2,684 shares in the company, valued at approximately $93,940. The disclosure for this sale can be found here. Insiders sold a total of 91,500 shares of company stock worth $3,093,350 in the last three months. Insiders own 5.30% of the company’s stock.
Several large investors have recently modified their holdings of GBT. BlackRock Inc. increased its holdings in shares of Global Blood Therapeutics by 4,675.5% in the 1st quarter. BlackRock Inc. now owns 2,618,847 shares of the company’s stock worth $96,503,000 after buying an additional 2,564,008 shares during the last quarter. State Street Corp increased its holdings in shares of Global Blood Therapeutics by 217.9% in the 2nd quarter. State Street Corp now owns 2,138,323 shares of the company’s stock worth $58,479,000 after buying an additional 1,465,595 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Global Blood Therapeutics by 189.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,022,700 shares of the company’s stock valued at $62,805,000 after purchasing an additional 1,323,934 shares in the last quarter. Janus Henderson Group PLC purchased a new stake in shares of Global Blood Therapeutics in the 2nd quarter valued at $26,919,000. Finally, Vanguard Group Inc. boosted its stake in shares of Global Blood Therapeutics by 40.1% in the 1st quarter. Vanguard Group Inc. now owns 2,535,980 shares of the company’s stock valued at $93,451,000 after purchasing an additional 726,366 shares in the last quarter. 86.76% of the stock is currently owned by hedge funds and other institutional investors.
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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