Wedbush Reiterates Outperform Rating for Global Blood Therapeutics (GBT)

Global Blood Therapeutics (NASDAQ:GBT)‘s stock had its “outperform” rating reissued by analysts at Wedbush in a research note issued on Friday. They presently have a $73.00 price objective on the stock. Wedbush’s price target suggests a potential upside of 101.38% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. Oppenheimer set a $53.00 price target on shares of Global Blood Therapeutics and gave the stock a “buy” rating in a report on Monday, October 23rd. BidaskClub raised shares of Global Blood Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, August 17th. ValuEngine lowered shares of Global Blood Therapeutics from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Needham & Company LLC increased their price target on shares of Global Blood Therapeutics from $51.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Zacks Investment Research raised shares of Global Blood Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, December 6th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Global Blood Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $62.07.

Shares of Global Blood Therapeutics (NASDAQ GBT) opened at $36.25 on Friday. Global Blood Therapeutics has a twelve month low of $13.35 and a twelve month high of $45.85.

Global Blood Therapeutics (NASDAQ:GBT) last posted its earnings results on Thursday, November 2nd. The company reported ($0.66) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.62) by ($0.04). During the same period last year, the company earned ($0.58) EPS. equities research analysts anticipate that Global Blood Therapeutics will post -2.55 earnings per share for the current year.

In other news, insider Jung Choi sold 3,000 shares of the company’s stock in a transaction on Tuesday, October 17th. The shares were sold at an average price of $32.65, for a total value of $97,950.00. Following the completion of the sale, the insider now owns 138,455 shares of the company’s stock, valued at approximately $4,520,555.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Peter Radovich sold 12,500 shares of the company’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $35.00, for a total transaction of $437,500.00. Following the completion of the sale, the vice president now directly owns 2,684 shares of the company’s stock, valued at approximately $93,940. The disclosure for this sale can be found here. Insiders sold a total of 88,500 shares of company stock valued at $3,003,350 in the last ninety days. 5.30% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the company. Point72 Asset Management L.P. boosted its stake in shares of Global Blood Therapeutics by 189.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,022,700 shares of the company’s stock valued at $62,805,000 after purchasing an additional 1,323,934 shares in the last quarter. Perceptive Advisors LLC boosted its position in Global Blood Therapeutics by 8.4% during the 3rd quarter. Perceptive Advisors LLC now owns 4,264,066 shares of the company’s stock valued at $132,399,000 after buying an additional 330,139 shares during the period. Orbimed Advisors LLC boosted its position in Global Blood Therapeutics by 10.2% during the 3rd quarter. Orbimed Advisors LLC now owns 2,393,635 shares of the company’s stock valued at $74,322,000 after buying an additional 221,700 shares during the period. Janus Henderson Group PLC boosted its position in Global Blood Therapeutics by 43.8% during the 3rd quarter. Janus Henderson Group PLC now owns 1,415,558 shares of the company’s stock valued at $43,953,000 after buying an additional 431,325 shares during the period. Finally, Jane Street Group LLC purchased a new stake in Global Blood Therapeutics during the 3rd quarter valued at $200,000. 90.48% of the stock is owned by institutional investors.

WARNING: “Wedbush Reiterates Outperform Rating for Global Blood Therapeutics (GBT)” was posted by Sports Perspectives and is owned by of Sports Perspectives. If you are viewing this story on another publication, it was stolen and reposted in violation of US & international trademark and copyright laws. The correct version of this story can be read at https://sportsperspectives.com/2017/12/17/wedbush-reiterates-outperform-rating-for-global-blood-therapeutics-gbt.html.

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

Latest News

Leave a Reply