Oppenheimer Analysts Give Global Blood Therapeutics (GBT) a $79.00 Price Target

Oppenheimer set a $79.00 target price on Global Blood Therapeutics (NASDAQ:GBT) in a research report report published on Tuesday. The firm currently has a buy rating on the stock. Oppenheimer also issued estimates for Global Blood Therapeutics’ FY2020 earnings at ($0.88) EPS and FY2021 earnings at $5.45 EPS.

Several other equities analysts have also weighed in on GBT. Cowen restated a buy rating and set a $83.00 price objective on shares of Global Blood Therapeutics in a research report on Thursday, November 9th. Wedbush restated an ourperform rating and set a $73.00 price objective on shares of Global Blood Therapeutics in a research report on Monday, September 18th. Zacks Investment Research lowered shares of Global Blood Therapeutics from a hold rating to a sell rating in a research report on Tuesday, November 7th. SunTrust Banks raised their price objective on shares of Global Blood Therapeutics to $67.00 and gave the company a buy rating in a research report on Monday, November 6th. Finally, ValuEngine lowered shares of Global Blood Therapeutics from a hold rating to a sell rating in a research report on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Buy and an average price target of $62.07.

Shares of Global Blood Therapeutics (NASDAQ:GBT) traded up $1.05 on Tuesday, reaching $39.40. 2,547,200 shares of the company were exchanged, compared to its average volume of 1,029,104. Global Blood Therapeutics has a 12-month low of $13.35 and a 12-month high of $45.85.

Global Blood Therapeutics (NASDAQ:GBT) last announced its earnings results 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 quarter in the previous year, the company posted ($0.58) EPS. equities analysts forecast that Global Blood Therapeutics will post -2.55 earnings per share for the current fiscal year.

In other news, Director Charles J. Homcy sold 70,000 shares of the stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $33.97, for a total value of $2,377,900.00. Following the completion of the sale, the director now directly owns 83,328 shares of the company’s stock, valued at $2,830,652.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jung Choi sold 3,000 shares of the stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $30.00, for a total transaction of $90,000.00. Following the completion of the sale, 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. Over the last quarter, insiders sold 88,500 shares of company stock valued at $3,003,350. Corporate insiders own 5.30% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Parametric Portfolio Associates LLC raised its position in Global Blood Therapeutics by 0.9% during the second quarter. Parametric Portfolio Associates LLC now owns 30,943 shares of the company’s stock valued at $846,000 after acquiring an additional 284 shares in the last quarter. Fiduciary Trust Co. raised its position in Global Blood Therapeutics by 7.8% during the third quarter. Fiduciary Trust Co. now owns 23,580 shares of the company’s stock valued at $732,000 after acquiring an additional 1,701 shares in the last quarter. American International Group Inc. raised its position in Global Blood Therapeutics by 8.1% during the third quarter. American International Group Inc. now owns 24,752 shares of the company’s stock valued at $769,000 after acquiring an additional 1,850 shares in the last quarter. Alps Advisors Inc. raised its position in Global Blood Therapeutics by 7.9% during the second quarter. Alps Advisors Inc. now owns 39,366 shares of the company’s stock valued at $1,077,000 after acquiring an additional 2,874 shares in the last quarter. Finally, Bank of America Corp DE raised its position in Global Blood Therapeutics by 103.6% during the first quarter. Bank of America Corp DE now owns 7,141 shares of the company’s stock valued at $263,000 after acquiring an additional 3,633 shares in the last quarter. 90.48% of the stock is owned by institutional investors and hedge funds.

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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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