Global Blood Therapeutics Inc (GBT) Receives $88.23 Average Target Price from Analysts

Shares of Global Blood Therapeutics Inc (NASDAQ:GBT) have been assigned a consensus recommendation of “Buy” from the seventeen analysts that are covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $88.23.

GBT has been the subject of a number of recent analyst reports. HC Wainwright set a $150.00 price target on shares of Global Blood Therapeutics and gave the company a “buy” rating in a research report on Tuesday, December 4th. William Blair reissued a “buy” rating on shares of Global Blood Therapeutics in a research note on Monday, December 3rd. Cantor Fitzgerald set a $96.00 price objective on shares of Global Blood Therapeutics and gave the company a “buy” rating in a research note on Monday, December 3rd. Oppenheimer set a $82.00 price objective on shares of Global Blood Therapeutics and gave the company a “buy” rating in a research note on Monday, December 3rd. Finally, Zacks Investment Research raised shares of Global Blood Therapeutics from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research note on Monday, February 4th.

Hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC lifted its stake in Global Blood Therapeutics by 6.7% in the fourth quarter. FMR LLC now owns 8,329,399 shares of the company’s stock worth $341,921,000 after acquiring an additional 521,563 shares during the last quarter. Perceptive Advisors LLC lifted its stake in Global Blood Therapeutics by 5.4% in the fourth quarter. Perceptive Advisors LLC now owns 5,425,726 shares of the company’s stock worth $222,726,000 after acquiring an additional 276,816 shares during the last quarter. BlackRock Inc. lifted its stake in Global Blood Therapeutics by 1.0% in the fourth quarter. BlackRock Inc. now owns 4,226,345 shares of the company’s stock worth $173,492,000 after acquiring an additional 40,076 shares during the last quarter. Vanguard Group Inc. lifted its stake in Global Blood Therapeutics by 2.6% in the third quarter. Vanguard Group Inc. now owns 4,202,443 shares of the company’s stock worth $159,693,000 after acquiring an additional 108,137 shares during the last quarter. Finally, Vanguard Group Inc lifted its stake in Global Blood Therapeutics by 2.6% in the third quarter. Vanguard Group Inc now owns 4,202,443 shares of the company’s stock worth $159,693,000 after acquiring an additional 108,137 shares during the last quarter.

Shares of GBT traded down $1.35 during trading on Wednesday, reaching $50.61. 7,341 shares of the company traded hands, compared to its average volume of 763,651. Global Blood Therapeutics has a twelve month low of $30.15 and a twelve month high of $54.88. The stock has a market cap of $2.93 billion, a PE ratio of -14.96 and a beta of 2.13.

Global Blood Therapeutics (NASDAQ:GBT) last announced its quarterly earnings results on Wednesday, February 27th. The company reported ($0.93) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.05). During the same quarter last year, the business posted ($0.95) EPS. Equities analysts forecast that Global Blood Therapeutics will post -3.89 earnings per share for the current year.

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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Analyst Recommendations for Global Blood Therapeutics (NASDAQ:GBT)

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