Global Blood Therapeutics (GBT) Upgraded to Sell at BidaskClub

BidaskClub upgraded shares of Global Blood Therapeutics (NASDAQ:GBT) from a strong sell rating to a sell rating in a research note published on Wednesday.

Several other research firms also recently weighed in on GBT. Cantor Fitzgerald set a $96.00 price target on Global Blood Therapeutics and gave the stock a buy rating in a research note on Tuesday, October 2nd. Zacks Investment Research cut Global Blood Therapeutics from a buy rating to a hold rating in a research report on Thursday, October 4th. HC Wainwright reiterated a buy rating and set a $150.00 price objective on shares of Global Blood Therapeutics in a research report on Wednesday, November 28th. Morgan Stanley upped their price objective on Global Blood Therapeutics from $54.00 to $55.00 and gave the company an equal weight rating in a research report on Wednesday, December 19th. Finally, ValuEngine cut Global Blood Therapeutics from a strong-buy rating to a buy rating in a research report on Tuesday, October 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have issued a buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $82.80.

NASDAQ:GBT traded up $1.06 during mid-day trading on Wednesday, reaching $43.96. 16,403 shares of the company were exchanged, compared to its average volume of 913,767. Global Blood Therapeutics has a 12 month low of $30.15 and a 12 month high of $68.05. The firm has a market cap of $2.20 billion, a P/E ratio of -16.07 and a beta of 2.12.

Global Blood Therapeutics (NASDAQ:GBT) last posted its quarterly earnings data on Tuesday, November 6th. The company reported ($0.83) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.85) by $0.02. During the same quarter last year, the company earned ($0.66) earnings per share. As a group, analysts expect that Global Blood Therapeutics will post -3.36 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GBT. Bainco International Investors bought a new stake in Global Blood Therapeutics during the 2nd quarter worth about $271,000. Sei Investments Co. raised its stake in Global Blood Therapeutics by 12.1% during the second quarter. Sei Investments Co. now owns 13,850 shares of the company’s stock worth $626,000 after acquiring an additional 1,499 shares in the last quarter. Rhumbline Advisers raised its stake in Global Blood Therapeutics by 35.1% during the second quarter. Rhumbline Advisers now owns 48,618 shares of the company’s stock worth $2,198,000 after acquiring an additional 12,622 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Global Blood Therapeutics by 6.9% during the second quarter. Bank of New York Mellon Corp now owns 236,471 shares of the company’s stock worth $10,689,000 after acquiring an additional 15,211 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in Global Blood Therapeutics by 21.1% during the second quarter. Schwab Charles Investment Management Inc. now owns 258,143 shares of the company’s stock worth $11,669,000 after acquiring an additional 45,038 shares in the last quarter.

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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