Global Blood Therapeutics (GBT) Rating Increased to Strong-Buy at ValuEngine

Global Blood Therapeutics (NASDAQ:GBT) was upgraded by stock analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a report released on Thursday.

Several other equities analysts have also issued reports on GBT. Cantor Fitzgerald lifted their target price on shares of Global Blood Therapeutics from $69.00 to $96.00 and gave the company an “overweight” rating in a report on Wednesday, June 27th. Wells Fargo & Co lifted their target price on shares of Global Blood Therapeutics from $78.00 to $85.00 and gave the company an “outperform” rating in a report on Wednesday, June 27th. HC Wainwright lifted their target price on shares of Global Blood Therapeutics from $73.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, June 27th. Nomura lifted their target price on shares of Global Blood Therapeutics from $91.00 to $109.00 and gave the company a “buy” rating in a report on Thursday, June 28th. Finally, Zacks Investment Research upgraded shares of Global Blood Therapeutics from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a report on Thursday, July 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $79.67.

GBT stock opened at $37.81 on Thursday. Global Blood Therapeutics has a 52-week low of $29.95 and a 52-week high of $68.05. The company has a market cap of $1.87 billion, a PE ratio of -14.30 and a beta of 4.32.

Global Blood Therapeutics (NASDAQ:GBT) last released its earnings results on Thursday, August 2nd. The company reported ($0.78) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.87) by $0.09. During the same quarter in the previous year, the business earned ($0.55) EPS. As a group, sell-side analysts predict that Global Blood Therapeutics will post -3.38 EPS for the current fiscal year.

In related news, insider Lesley Ann Calhoun sold 2,004 shares of the business’s stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $49.89, for a total value of $99,979.56. Following the completion of the transaction, the insider now directly owns 1,342 shares in the company, valued at approximately $66,952.38. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.40% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System raised its holdings in Global Blood Therapeutics by 1.9% in the 1st quarter. California State Teachers Retirement System now owns 59,314 shares of the company’s stock worth $2,865,000 after acquiring an additional 1,115 shares during the last quarter. First Allied Advisory Services Inc. raised its stake in Global Blood Therapeutics by 21.4% during the 2nd quarter. First Allied Advisory Services Inc. now owns 7,950 shares of the company’s stock valued at $359,000 after buying an additional 1,400 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in Global Blood Therapeutics by 42.0% during the 2nd quarter. Great West Life Assurance Co. Can now owns 4,969 shares of the company’s stock valued at $224,000 after buying an additional 1,469 shares during the last quarter. Sei Investments Co. raised its stake in Global Blood Therapeutics by 12.1% during the 2nd quarter. Sei Investments Co. now owns 13,850 shares of the company’s stock valued at $626,000 after buying an additional 1,499 shares during the last quarter. Finally, Daiwa SB Investments Ltd. raised its stake in Global Blood Therapeutics by 5.8% during the 3rd quarter. Daiwa SB Investments Ltd. now owns 34,521 shares of the company’s stock valued at $1,312,000 after buying an additional 1,891 shares during the last quarter. Institutional investors own 98.79% of the company’s stock.

About Global Blood Therapeutics

Global Blood Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and delivery of treatments for underserved patient communities. It is developing its lead product candidate, voxelotor, an oral, once-daily therapy for sickle cell disease (SCD). The company is evaluating voxelotor in SCD in a Phase III clinical trial in adult and adolescent patients with SCD.

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Analyst Recommendations for Global Blood Therapeutics (NASDAQ:GBT)

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