Global Blood Therapeutics (GBT) Raised to Strong-Buy at ValuEngine

ValuEngine upgraded shares of Global Blood Therapeutics (NASDAQ:GBT) from a buy rating to a strong-buy rating in a research report report published on Wednesday morning.

Other equities research analysts also recently issued research reports about the company. Zacks Investment Research raised Global Blood Therapeutics from a hold rating to a buy rating and set a $52.00 target price on the stock in a report on Friday, August 10th. HC Wainwright set a $125.00 target price on Global Blood Therapeutics and gave the company a buy rating in a report on Wednesday, August 8th. Cantor Fitzgerald reaffirmed a buy rating and issued a $96.00 target price on shares of Global Blood Therapeutics in a report on Wednesday, August 8th. SunTrust Banks set a $70.00 target price on Global Blood Therapeutics and gave the company a buy rating in a report on Sunday, August 5th. Finally, JPMorgan Chase & Co. reaffirmed a buy rating and issued a $75.00 target price on shares of Global Blood Therapeutics in a report on Sunday, August 5th. One analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Global Blood Therapeutics currently has a consensus rating of Buy and a consensus price target of $80.20.

Shares of GBT stock traded down $0.90 during trading hours on Wednesday, reaching $39.89. The company’s stock had a trading volume of 714,032 shares, compared to its average volume of 1,245,308. The company has a market cap of $2.18 billion, a PE ratio of -14.45 and a beta of 3.70. Global Blood Therapeutics has a fifty-two week low of $31.50 and a fifty-two week high of $68.05.

Global Blood Therapeutics (NASDAQ:GBT) last issued its earnings results on Tuesday, November 6th. The company reported ($0.83) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.85) by $0.02. During the same period last year, the company posted ($0.66) earnings per share. Analysts expect that Global Blood Therapeutics will post -3.39 EPS for the current fiscal year.

In other news, insider Lesley Ann Calhoun sold 2,004 shares of the stock in a transaction on Friday, August 17th. The stock was sold at an average price of $49.89, for a total value of $99,979.56. Following the completion of the transaction, the insider now directly owns 1,342 shares in the company, valued at approximately $66,952.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.40% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in the stock. FMR LLC raised its position in Global Blood Therapeutics by 21.0% during the 3rd quarter. FMR LLC now owns 7,807,836 shares of the company’s stock worth $296,698,000 after purchasing an additional 1,357,642 shares during the last quarter. BlackRock Inc. raised its position in Global Blood Therapeutics by 1.1% during the 3rd quarter. BlackRock Inc. now owns 4,186,269 shares of the company’s stock worth $159,079,000 after purchasing an additional 43,507 shares during the last quarter. Janus Henderson Group PLC raised its position in Global Blood Therapeutics by 12.2% during the 2nd quarter. Janus Henderson Group PLC now owns 4,154,385 shares of the company’s stock worth $187,778,000 after purchasing an additional 452,843 shares during the last quarter. Northern Trust Corp raised its position in Global Blood Therapeutics by 25.1% during the 2nd quarter. Northern Trust Corp now owns 602,689 shares of the company’s stock worth $27,241,000 after purchasing an additional 121,043 shares during the last quarter. Finally, Nexthera Capital LP raised its position in Global Blood Therapeutics by 28.2% during the 2nd quarter. Nexthera Capital LP now owns 404,092 shares of the company’s stock worth $18,265,000 after purchasing an additional 88,945 shares during the last quarter. 99.01% of the stock is owned by institutional investors and hedge funds.

Global Blood Therapeutics Company Profile

Global Blood Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and delivery of treatments for underserved patient communities. It is developing its lead product candidate, voxelotor, an oral, once-daily therapy for sickle cell disease (SCD). The company is evaluating voxelotor in SCD in a Phase III clinical trial in adult and adolescent patients with SCD.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Global Blood Therapeutics (NASDAQ:GBT)

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