Global Blood Therapeutics, Inc. (GBT) Stock Rating Upgraded by Zacks Investment Research

Global Blood Therapeutics, Inc. (NASDAQ:GBT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The firm presently has a $36.00 target price on the stock. Zacks Investment Research‘s target price indicates a potential upside of 8.43% from the stock’s current price.

According to Zacks, “Global Blood Therapeutics, Inc. is a biopharmaceutical company which is engaged in discovering, developing and commercializing novel therapeutics to treat grievous blood-based disorders. Its product candidate consists of GBT440 is an oral, once-daily prophylactic therapy for sickle cell disease which is in clinical trial. The company in addition to GBT is involved in research and development activities targeted hypoxemic pulmonary disorders, including idiopathic pulmonary fibrosis and hereditary angioedema. Global Blood Therapeutics, Inc. is based in South San Francisco, California. “

A number of other research analysts have also recently commented on the stock. Morgan Stanley reissued an “overweight” rating on shares of Global Blood Therapeutics in a report on Tuesday, July 11th. BidaskClub cut shares of Global Blood Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Wedbush reissued an “ourperform” rating and issued a $73.00 target price on shares of Global Blood Therapeutics in a report on Monday, September 18th. Oppenheimer Holdings, Inc. started coverage on shares of Global Blood Therapeutics in a report on Friday, August 4th. They issued an “outperform” rating and a $53.00 target price for the company. Finally, Needham & Company LLC started coverage on shares of Global Blood Therapeutics in a report on Wednesday, September 20th. They issued a “buy” rating and a $51.00 target price for the company. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Global Blood Therapeutics currently has an average rating of “Buy” and a consensus target price of $54.08.

Shares of Global Blood Therapeutics (GBT) opened at 33.20 on Tuesday. Global Blood Therapeutics has a 52-week low of $13.35 and a 52-week high of $41.15. The firm has a 50-day moving average of $29.08 and a 200 day moving average of $29.44. The firm’s market cap is $1.45 billion.

Global Blood Therapeutics (NASDAQ:GBT) last posted its earnings results on Monday, August 7th. The company reported ($0.55) EPS for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.06. During the same quarter in the prior year, the firm posted ($0.58) earnings per share. On average, equities analysts predict that Global Blood Therapeutics will post ($2.44) earnings per share for the current year.

ILLEGAL ACTIVITY NOTICE: This piece of content was posted by Sports Perspectives and is owned by of Sports Perspectives. If you are accessing this piece of content on another publication, it was illegally stolen and republished in violation of United States & international trademark & copyright law. The correct version of this piece of content can be viewed at https://sportsperspectives.com/2017/10/12/global-blood-therapeutics-inc-gbt-stock-rating-upgraded-by-zacks-investment-research.html.

In other news, Director Deval L. Patrick sold 27,053 shares of the company’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $29.69, for a total value of $803,203.57. Following the completion of the transaction, the director now owns 12,053 shares of the company’s stock, valued at $357,853.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jung Choi sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $30.00, for a total value of $90,000.00. Following the completion of the transaction, the insider now directly owns 143,255 shares of the company’s stock, valued at approximately $4,297,650. The disclosure for this sale can be found here. Insiders sold 36,053 shares of company stock valued at $1,073,204 in the last ninety days. 5.30% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in GBT. BNP Paribas Arbitrage SA increased its position in Global Blood Therapeutics by 694.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,547 shares of the company’s stock valued at $124,000 after purchasing an additional 3,975 shares during the period. Great West Life Assurance Co. Can acquired a new stake in Global Blood Therapeutics during the 1st quarter valued at approximately $129,000. Asset Management One Co. Ltd. acquired a new stake in Global Blood Therapeutics during the 1st quarter valued at approximately $130,000. Legal & General Group Plc increased its position in Global Blood Therapeutics by 10.1% during the 1st quarter. Legal & General Group Plc now owns 4,816 shares of the company’s stock valued at $178,000 after purchasing an additional 440 shares during the period. Finally, DekaBank Deutsche Girozentrale acquired a new stake in Global Blood Therapeutics during the 2nd quarter valued at approximately $211,000. 86.07% of the stock is owned by institutional investors and hedge funds.

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

Latest News

Leave a Reply