Global Blood Therapeutics (NASDAQ:GBT) Raised to Hold at BidaskClub

Global Blood Therapeutics (NASDAQ:GBT) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Friday, BidAskClub reports.

GBT has been the subject of a number of other reports. SunTrust Banks raised their price objective on shares of Global Blood Therapeutics to $100.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Cowen set a $83.00 price objective on shares of Global Blood Therapeutics and gave the company a “buy” rating in a research report on Wednesday, October 9th. Morgan Stanley set a $60.00 price objective on shares of Global Blood Therapeutics and gave the company a “hold” rating in a research report on Friday, August 9th. Wells Fargo & Co raised their price objective on shares of Global Blood Therapeutics from $96.00 to $104.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. Finally, Wedbush restated a “buy” rating and issued a $120.00 price objective on shares of Global Blood Therapeutics in a research report on Wednesday, October 9th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $91.25.

GBT stock opened at $48.23 on Friday. The firm has a 50 day moving average of $49.86 and a 200-day moving average of $54.15. The company has a current ratio of 16.79, a quick ratio of 16.79 and a debt-to-equity ratio of 0.03. Global Blood Therapeutics has a 12 month low of $30.15 and a 12 month high of $64.94. The firm has a market capitalization of $2.97 billion, a P/E ratio of -14.14 and a beta of 1.58.

Global Blood Therapeutics (NASDAQ:GBT) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($1.01) EPS for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.05). During the same quarter in the prior year, the company posted ($0.78) EPS. Sell-side analysts predict that Global Blood Therapeutics will post -3.99 EPS for the current year.

In other Global Blood Therapeutics news, insider Tricia Borga Suvari sold 3,249 shares of Global Blood Therapeutics stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $48.70, for a total transaction of $158,226.30. Following the completion of the sale, the insider now directly owns 13,513 shares in the company, valued at $658,083.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Lesley Ann Calhoun sold 2,765 shares of Global Blood Therapeutics stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $54.36, for a total transaction of $150,305.40. Following the transaction, the insider now directly owns 887 shares in the company, valued at $48,217.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,371 shares of company stock valued at $549,865. 4.30% of the stock is currently owned by company insiders.

Several hedge funds have recently bought and sold shares of GBT. Price T Rowe Associates Inc. MD raised its stake in shares of Global Blood Therapeutics by 15.9% during the second quarter. Price T Rowe Associates Inc. MD now owns 4,176,942 shares of the company’s stock worth $219,707,000 after acquiring an additional 572,808 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Global Blood Therapeutics by 10.0% during the second quarter. Vanguard Group Inc. now owns 5,366,126 shares of the company’s stock worth $282,258,000 after acquiring an additional 485,866 shares in the last quarter. Eagle Asset Management Inc. purchased a new position in shares of Global Blood Therapeutics during the second quarter worth approximately $22,984,000. Bank of America Corp DE raised its stake in shares of Global Blood Therapeutics by 13.6% during the second quarter. Bank of America Corp DE now owns 3,271,277 shares of the company’s stock worth $172,069,000 after acquiring an additional 392,104 shares in the last quarter. Finally, Luminus Management LLC purchased a new position in shares of Global Blood Therapeutics during the second quarter worth approximately $20,368,000. 97.99% of the stock is currently owned by hedge funds and other institutional investors.

Global Blood Therapeutics Company Profile

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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