HC Wainwright Reiterates $73.00 Price Target for Global Blood Therapeutics (GBT)

Global Blood Therapeutics (NASDAQ:GBT) has been given a $73.00 target price by investment analysts at HC Wainwright in a research note issued on Thursday. The firm presently has a “buy” rating on the stock. HC Wainwright’s price target indicates a potential upside of 31.65% from the stock’s previous close.

Several other analysts have also issued reports on the company. Zacks Investment Research raised Global Blood Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, December 6th. Cowen reissued a “buy” rating and set a $83.00 target price on shares of Global Blood Therapeutics in a report on Thursday, November 9th. Wedbush reissued an “ourperform” rating and set a $73.00 target price on shares of Global Blood Therapeutics in a report on Monday, September 18th. Nomura increased their target price on Global Blood Therapeutics to $91.00 and gave the stock a “buy” rating in a report on Monday, December 11th. Finally, Oppenheimer set a $79.00 target price on Global Blood Therapeutics and gave the stock a “buy” rating in a report on Tuesday, December 12th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $62.07.

Shares of Global Blood Therapeutics (NASDAQ GBT) opened at $55.45 on Thursday. The stock has a market capitalization of $2,550.00 and a price-to-earnings ratio of -21.75. Global Blood Therapeutics has a 1-year low of $14.70 and a 1-year high of $55.65.

Global Blood Therapeutics (NASDAQ:GBT) last released its earnings results on Thursday, November 2nd. The company reported ($0.66) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.62) by ($0.04). During the same period in the prior year, the business earned ($0.58) earnings per share. equities research analysts anticipate that Global Blood Therapeutics will post -2.54 EPS for the current year.

In other Global Blood Therapeutics news, VP Peter Radovich sold 12,500 shares of the 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 in the company, valued at $93,940. The transaction was disclosed in a 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 dated Tuesday, October 17th. The shares were sold at an average price of $32.65, for a total value of $97,950.00. Following the completion of the transaction, the insider now owns 138,455 shares of the company’s stock, valued at $4,520,555.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 88,500 shares of company stock valued at $3,023,000. 5.30% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of GBT. Schwab Charles Investment Management Inc. raised its position in Global Blood Therapeutics by 35.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 149,634 shares of the company’s stock valued at $4,093,000 after purchasing an additional 38,829 shares during the last quarter. Rhumbline Advisers raised its position in Global Blood Therapeutics by 118.5% in the second quarter. Rhumbline Advisers now owns 41,801 shares of the company’s stock valued at $1,143,000 after purchasing an additional 22,670 shares during the last quarter. SG Americas Securities LLC raised its position in Global Blood Therapeutics by 93.9% in the second quarter. SG Americas Securities LLC now owns 8,288 shares of the company’s stock valued at $227,000 after purchasing an additional 4,014 shares during the last quarter. Bank of New York Mellon Corp raised its position in Global Blood Therapeutics by 32.1% in the second quarter. Bank of New York Mellon Corp now owns 184,173 shares of the company’s stock valued at $5,037,000 after purchasing an additional 44,784 shares during the last quarter. Finally, Legal & General Group Plc raised its position in Global Blood Therapeutics by 93.4% in the second quarter. Legal & General Group Plc now owns 9,315 shares of the company’s stock valued at $256,000 after purchasing an additional 4,499 shares during the last quarter. Hedge funds and other institutional investors own 85.72% of the company’s stock.

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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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