Global Blood Therapeutics Inc (GBT) Given Average Recommendation of “Buy” by Brokerages

Global Blood Therapeutics Inc (NASDAQ:GBT) has been assigned an average rating of “Buy” from the sixteen research firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and fourteen have given a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $65.58.

GBT has been the topic of a number of research analyst reports. Morgan Stanley restated 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. BidaskClub downgraded Global Blood Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, September 14th. 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. Zacks Investment Research downgraded Global Blood Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, October 16th. Finally, HC Wainwright set a $73.00 price objective on Global Blood Therapeutics and gave the company a “buy” rating in a report on Monday, December 11th.

Global Blood Therapeutics (NASDAQ GBT) traded up $0.15 during trading hours on Friday, reaching $56.60. The company’s stock had a trading volume of 968,595 shares, compared to its average volume of 1,824,577. Global Blood Therapeutics has a 12 month low of $14.70 and a 12 month high of $57.75. The stock has a market capitalization of $2,600.00 and a P/E ratio of -22.20.

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

In related news, major shareholder Perceptive Advisors Llc bought 175,000 shares of the stock in a transaction that occurred on Tuesday, December 19th. The stock was purchased at an average cost of $38.00 per share, with a total value of $6,650,000.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Charles J. Homcy sold 70,000 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 83,328 shares of the company’s stock, valued at $2,830,652.16. The disclosure for this sale can be found here. Insiders sold a total of 103,500 shares of company stock worth $3,773,000 in the last quarter. Company insiders own 5.30% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Parametric Portfolio Associates LLC boosted its position in shares of Global Blood Therapeutics by 0.9% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 30,943 shares of the company’s stock worth $846,000 after acquiring an additional 284 shares in the last quarter. Fiduciary Trust Co. boosted its position in shares of Global Blood Therapeutics by 7.8% during the 3rd quarter. Fiduciary Trust Co. now owns 23,580 shares of the company’s stock worth $732,000 after acquiring an additional 1,701 shares in the last quarter. American International Group Inc. boosted its position in shares of Global Blood Therapeutics by 8.1% during the 3rd quarter. American International Group Inc. now owns 24,752 shares of the company’s stock worth $769,000 after acquiring an additional 1,850 shares in the last quarter. Alps Advisors Inc. boosted its position in shares of Global Blood Therapeutics by 9.3% during the 3rd quarter. Alps Advisors Inc. now owns 43,015 shares of the company’s stock worth $1,336,000 after acquiring an additional 3,649 shares in the last quarter. Finally, ProShare Advisors LLC boosted its position in shares of Global Blood Therapeutics by 17.5% during the 2nd quarter. ProShare Advisors LLC now owns 25,649 shares of the company’s stock worth $702,000 after acquiring an additional 3,827 shares in the last quarter. 85.72% of the stock is owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY NOTICE: This report was originally reported by Community Financial News and is owned by of Community Financial News. If you are accessing this report on another site, it was stolen and republished in violation of United States & international copyright & trademark law. The original version of this report can be viewed at https://www.com-unik.info/2018/01/12/global-blood-therapeutics-inc-gbt-given-average-recommendation-of-buy-by-brokerages.html.

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).

Analyst Recommendations for Global Blood Therapeutics (NASDAQ:GBT)

Receive News & Ratings for Global Blood Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Blood Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit