Global Blood Therapeutics (GBT) Stock Rating Reaffirmed by Wedbush

Global Blood Therapeutics (NASDAQ:GBT)‘s stock had its “outperform” rating reaffirmed by research analysts at Wedbush in a note issued to investors on Monday. They currently have a $73.00 price target on the stock. Wedbush’s target price suggests a potential upside of 82.50% from the company’s previous close.

Several other research analysts have also weighed in on the stock. ValuEngine lowered shares of Global Blood Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. HC Wainwright assumed coverage on shares of Global Blood Therapeutics in a research note on Friday, December 1st. They set a “buy” rating and a $73.00 target price for the company. Oppenheimer set a $53.00 target price on shares of Global Blood Therapeutics and gave the stock a “buy” rating in a research note on Monday, November 13th. Cowen reaffirmed a “buy” rating and set a $83.00 target price on shares of Global Blood Therapeutics in a research note on Thursday, November 9th. Finally, Zacks Investment Research lowered shares of Global Blood Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, November 7th. Two investment analysts have rated the stock with a sell rating and fourteen have issued a buy rating to the company’s stock. Global Blood Therapeutics currently has a consensus rating of “Buy” and an average target price of $56.38.

Global Blood Therapeutics (NASDAQ GBT) opened at $40.00 on Monday. Global Blood Therapeutics has a 12 month low of $13.35 and a 12 month high of $43.95.

Global Blood Therapeutics (NASDAQ:GBT) last announced its earnings results on Thursday, November 2nd. The company reported ($0.66) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.62) by ($0.04). During the same period in the prior year, the firm earned ($0.58) EPS. analysts predict that Global Blood Therapeutics will post -2.53 earnings per share for the current year.

In related news, insider Jung Choi sold 3,000 shares of Global Blood Therapeutics stock in a transaction that occurred on Friday, September 29th. 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 owns 140,055 shares in the company, valued at $4,201,650. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Peter Radovich sold 12,500 shares of Global Blood Therapeutics stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $35.00, for a total transaction of $437,500.00. Following the completion of the transaction, the vice president now owns 2,684 shares of the company’s stock, valued at approximately $93,940. The disclosure for this sale can be found here. In the last three months, insiders sold 88,500 shares of company stock valued at $3,003,350. Insiders own 5.30% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SA lifted its stake in Global Blood Therapeutics by 694.9% in the second quarter. BNP Paribas Arbitrage SA now owns 4,547 shares of the company’s stock worth $124,000 after acquiring an additional 3,975 shares during the last quarter. Legal & General Group Plc lifted its stake in Global Blood Therapeutics by 10.1% in the first quarter. Legal & General Group Plc now owns 4,816 shares of the company’s stock worth $178,000 after acquiring an additional 440 shares during the last quarter. Jane Street Group LLC purchased a new position in Global Blood Therapeutics in the third quarter worth approximately $200,000. Trexquant Investment LP purchased a new position in Global Blood Therapeutics in the third quarter worth approximately $202,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Global Blood Therapeutics in the third quarter worth approximately $205,000. Institutional investors own 90.48% of the company’s stock.

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Global Blood Therapeutics Company Profile

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)

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