Global Blood Therapeutics (GBT) Stock Rating Lowered by BidaskClub

BidaskClub cut shares of Global Blood Therapeutics (NASDAQ:GBT) from a sell rating to a strong sell rating in a report published on Friday morning.

GBT has been the topic of a number of other research reports. Cantor Fitzgerald set a $96.00 target price on shares of Global Blood Therapeutics and gave the stock a buy rating in a report on Thursday, August 23rd. HC Wainwright set a $125.00 target price on shares of Global Blood Therapeutics and gave the stock a buy rating in a report on Monday, November 5th. ValuEngine raised shares of Global Blood Therapeutics from a buy rating to a strong-buy rating in a report on Wednesday, November 7th. Zacks Investment Research lowered shares of Global Blood Therapeutics from a buy rating to a hold rating in a report on Tuesday, August 28th. Finally, SunTrust Banks set a $70.00 target price on shares of Global Blood Therapeutics and gave the stock a buy rating in a report on Sunday, August 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $81.87.

NASDAQ GBT opened at $46.62 on Friday. Global Blood Therapeutics has a 12-month low of $30.15 and a 12-month high of $68.05. The company has a market capitalization of $1.65 billion, a PE ratio of -16.89 and a beta of 3.67.

Global Blood Therapeutics (NASDAQ:GBT) last posted its quarterly earnings results on Tuesday, November 6th. The company reported ($0.83) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.85) by $0.02. During the same quarter in the prior year, the business posted ($0.66) earnings per share. On average, sell-side analysts expect that Global Blood Therapeutics will post -3.36 EPS for the current year.

A number of hedge funds have recently added to or reduced their stakes in GBT. Amalgamated Bank grew its stake in Global Blood Therapeutics by 46.5% in the 2nd quarter. Amalgamated Bank now owns 7,624 shares of the company’s stock worth $345,000 after buying an additional 2,420 shares in the last quarter. Bainco International Investors purchased a new position in Global Blood Therapeutics in the 2nd quarter worth approximately $271,000. TD Asset Management Inc. grew its stake in Global Blood Therapeutics by 5.4% in the 2nd quarter. TD Asset Management Inc. now owns 50,661 shares of the company’s stock worth $2,290,000 after buying an additional 2,600 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. grew its stake in Global Blood Therapeutics by 935.8% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 72,300 shares of the company’s stock worth $3,268,000 after buying an additional 65,320 shares in the last quarter. Finally, First Midwest Bank Trust Division purchased a new position in Global Blood Therapeutics in the 2nd quarter worth approximately $541,000.

About Global Blood Therapeutics

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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Analyst Recommendations for Global Blood Therapeutics (NASDAQ:GBT)

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