Global Blood Therapeutics’ (GBT) “Outperform” Rating Reiterated at Wedbush

Wedbush restated their outperform rating on shares of Global Blood Therapeutics (NASDAQ:GBT) in a research report released on Monday morning. They currently have a $73.00 target price on the stock. Wedbush also issued estimates for Global Blood Therapeutics’ Q4 2017 earnings at ($0.69) EPS, FY2017 earnings at ($2.51) EPS, FY2018 earnings at ($2.99) EPS, FY2019 earnings at ($3.77) EPS, FY2020 earnings at ($3.39) EPS and FY2021 earnings at ($1.56) EPS.

GBT has been the topic of a number of other reports. Cowen reissued an outperform rating and issued a $83.00 price target on shares of Global Blood Therapeutics in a report on Monday, August 14th. Oppenheimer set a $53.00 price target on shares of Global Blood Therapeutics and gave the stock a buy rating in a report on Monday, November 13th. HC Wainwright began coverage on shares of Global Blood Therapeutics in a report on Friday, December 1st. They issued a buy rating and a $73.00 price target on the stock. BidaskClub raised shares of Global Blood Therapeutics from a sell rating to a hold rating in a report on Thursday, August 17th. Finally, Zacks Investment Research downgraded shares of Global Blood Therapeutics from a buy rating to a hold rating in a report on Monday, October 16th. One analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have given a buy rating to the company. Global Blood Therapeutics presently has a consensus rating of Buy and a consensus target price of $56.38.

Global Blood Therapeutics (NASDAQ:GBT) traded up $0.30 on Monday, reaching $40.30. 492,600 shares of the company’s stock were exchanged, compared to its average volume of 987,263. Global Blood Therapeutics has a 1 year low of $13.35 and a 1 year high of $43.95.

Global Blood Therapeutics (NASDAQ:GBT) last posted its quarterly earnings data on Thursday, November 2nd. 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 period in the previous year, the firm earned ($0.58) EPS. sell-side analysts anticipate that Global Blood Therapeutics will post -2.55 earnings per share for the current fiscal year.

In related news, insider Jung Choi sold 3,000 shares of the business’s stock in a transaction dated Tuesday, October 17th. The stock was sold at an average price of $32.65, for a total value of $97,950.00. Following the sale, the insider now directly owns 138,455 shares in the company, valued at approximately $4,520,555.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Peter Radovich sold 12,500 shares of the business’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $35.00, for a total value of $437,500.00. Following the completion of the sale, the vice president now owns 2,684 shares in the company, valued at $93,940. The disclosure for this sale can be found here. Insiders sold a total of 88,500 shares of company stock worth $3,003,350 over the last 90 days. 5.30% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in GBT. Legal & General Group Plc increased its position in shares of Global Blood Therapeutics by 10.1% during the first quarter. Legal & General Group Plc now owns 4,816 shares of the company’s stock valued at $178,000 after buying an additional 440 shares during the period. Schwab Charles Investment Management Inc. increased its position in shares of Global Blood Therapeutics by 66.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 110,805 shares of the company’s stock worth $4,084,000 after purchasing an additional 44,383 shares during the last quarter. Bank of America Corp DE increased its position in shares of Global Blood Therapeutics by 103.6% in the first quarter. Bank of America Corp DE now owns 7,141 shares of the company’s stock worth $263,000 after purchasing an additional 3,633 shares during the last quarter. State Street Corp increased its position in shares of Global Blood Therapeutics by 132.0% in the first quarter. State Street Corp now owns 672,728 shares of the company’s stock worth $24,788,000 after purchasing an additional 382,744 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Global Blood Therapeutics by 53.0% in the second quarter. Russell Investments Group Ltd. now owns 44,014 shares of the company’s stock worth $1,203,000 after purchasing an additional 15,253 shares during the last quarter. Hedge funds and other institutional investors own 90.48% of the company’s stock.

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About Global Blood Therapeutics

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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