Oppenheimer Holdings, Inc. set a $53.00 target price on Global Blood Therapeutics, Inc. (NASDAQ:GBT) in a research report sent to investors on Monday morning. The brokerage currently has a buy rating on the stock.
Several other research firms have also commented on GBT. Zacks Investment Research upgraded Global Blood Therapeutics from a hold rating to a buy rating and set a $36.00 price target on the stock in a report on Tuesday, October 10th. Needham & Company LLC set a $51.00 price target on Global Blood Therapeutics and gave the stock a buy rating in a report on Wednesday, October 18th. Morgan Stanley reiterated an overweight rating and set a $56.00 price target (up previously from $51.00) on shares of Global Blood Therapeutics in a report on Friday, October 6th. J P Morgan Chase & Co reiterated a buy rating on shares of Global Blood Therapeutics in a report on Monday, October 23rd. Finally, BidaskClub upgraded Global Blood Therapeutics from a sell rating to a hold rating in a report on Saturday, August 5th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Global Blood Therapeutics has a consensus rating of Buy and an average price target of $54.08.
Global Blood Therapeutics (NASDAQ:GBT) last announced its quarterly earnings data on Tuesday, November 7th. The company reported ($0.66) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.04). During the same quarter in the prior year, the firm posted ($0.58) earnings per share.
In other Global Blood Therapeutics news, VP Peter Radovich sold 12,500 shares of Global Blood Therapeutics stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $35.00, for a total value of $437,500.00. Following the completion of the transaction, the vice president now directly owns 2,684 shares of the company’s stock, valued at approximately $93,940. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jung Choi sold 3,000 shares of Global Blood Therapeutics stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $30.00, for a total value of $90,000.00. Following the completion of the transaction, the insider now directly owns 140,055 shares of the company’s stock, valued at $4,201,650. The disclosure for this sale can be found here. Insiders have sold a total of 91,500 shares of company stock valued at $3,093,350 over the last three months. Corporate insiders own 5.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GBT. BlackRock Inc. grew its position in Global Blood Therapeutics by 4,675.5% in the 1st quarter. BlackRock Inc. now owns 2,618,847 shares of the company’s stock valued at $96,503,000 after acquiring an additional 2,564,008 shares in the last quarter. State Street Corp grew its position in Global Blood Therapeutics by 217.9% in the 2nd quarter. State Street Corp now owns 2,138,323 shares of the company’s stock valued at $58,479,000 after acquiring an additional 1,465,595 shares in the last quarter. Janus Henderson Group PLC acquired a new position in Global Blood Therapeutics in the 2nd quarter valued at about $26,919,000. Vanguard Group Inc. grew its position in 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 acquiring an additional 726,366 shares in the last quarter. Finally, PDT Partners LLC acquired a new position in Global Blood Therapeutics in the 2nd quarter valued at about $7,702,000. 86.22% of the stock is 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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