BidaskClub Upgrades Global Blood Therapeutics, Inc. (GBT) to “Buy”

Global Blood Therapeutics, Inc. (NASDAQ:GBT) was upgraded by BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday.

A number of other research firms have also recently issued reports on GBT. Oppenheimer Holdings, Inc. set a $53.00 target price on Global Blood Therapeutics and gave the company a “buy” rating in a research report on Monday. Zacks Investment Research upgraded Global Blood Therapeutics from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a research report on Tuesday, October 10th. Needham & Company LLC set a $51.00 target price on Global Blood Therapeutics and gave the company a “buy” rating in a research report on Wednesday, October 18th. Morgan Stanley reiterated an “overweight” rating and issued a $56.00 target price (up previously from $51.00) on shares of Global Blood Therapeutics in a research report on Friday, October 6th. Finally, J P Morgan Chase & Co reiterated a “buy” rating on shares of Global Blood Therapeutics in a research report on Monday, October 23rd. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $54.08.

Global Blood Therapeutics (NASDAQ:GBT) last released its earnings results on Tuesday, November 7th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.62) by ($0.04). During the same quarter in the previous year, the company posted ($0.58) earnings per share.

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In related news, VP Peter Radovich sold 12,500 shares of Global Blood Therapeutics stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $35.00, for a total value of $437,500.00. Following the transaction, the vice president now directly owns 2,684 shares of the company’s stock, valued at $93,940. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Charles J. Homcy sold 70,000 shares of Global Blood Therapeutics stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $33.97, for a total value of $2,377,900.00. Following the completion of the transaction, the director now directly owns 83,328 shares in the company, valued at $2,830,652.16. The disclosure for this sale can be found here. Insiders have sold 91,500 shares of company stock worth $3,093,350 over the last three months. Insiders own 5.30% of the company’s stock.

Several institutional investors have recently bought and sold shares of GBT. BlackRock Inc. lifted its stake in shares of Global Blood Therapeutics by 4,675.5% in the first quarter. BlackRock Inc. now owns 2,618,847 shares of the company’s stock worth $96,503,000 after acquiring an additional 2,564,008 shares during the period. State Street Corp lifted its stake in shares of Global Blood Therapeutics by 217.9% in the second quarter. State Street Corp now owns 2,138,323 shares of the company’s stock worth $58,479,000 after acquiring an additional 1,465,595 shares during the period. Janus Henderson Group PLC acquired a new position in shares of Global Blood Therapeutics in the second quarter worth approximately $26,919,000. Vanguard Group Inc. lifted its stake in shares of Global Blood Therapeutics by 40.1% in the first quarter. Vanguard Group Inc. now owns 2,535,980 shares of the company’s stock worth $93,451,000 after acquiring an additional 726,366 shares during the period. Finally, PDT Partners LLC acquired a new position in shares of Global Blood Therapeutics in the second quarter worth approximately $7,702,000. 86.22% of the stock is currently owned by 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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