Global Blood Therapeutics (GBT) PT Set at $125.00 by HC Wainwright

Global Blood Therapeutics (NASDAQ:GBT) has been given a $125.00 target price by equities researchers at HC Wainwright in a note issued to investors on Thursday. The firm presently has a “buy” rating on the stock. HC Wainwright’s price objective suggests a potential upside of 197.27% from the company’s previous close.

Other analysts have also issued research reports about the stock. SunTrust Banks set a $70.00 price target on shares of Global Blood Therapeutics and gave the company a “buy” rating in a research report on Sunday, August 5th. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $75.00 price target on shares of Global Blood Therapeutics in a research report on Sunday, August 5th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $96.00 price target on shares of Global Blood Therapeutics in a research report on Thursday, August 2nd. Zacks Investment Research raised shares of Global Blood Therapeutics from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a research report on Thursday, July 19th. Finally, Nomura lifted their price target on shares of Global Blood Therapeutics from $91.00 to $109.00 and gave the company a “buy” rating in a research report on Thursday, June 28th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $80.53.

GBT opened at $42.05 on Thursday. Global Blood Therapeutics has a 1-year low of $26.50 and a 1-year high of $68.05. The company has a market capitalization of $2.39 billion, a price-to-earnings ratio of -15.24 and a beta of 4.26.

Global Blood Therapeutics (NASDAQ:GBT) last released its quarterly earnings results on Thursday, August 2nd. The company reported ($0.78) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.87) by $0.09. During the same quarter in the previous year, the business posted ($0.55) EPS. sell-side analysts predict that Global Blood Therapeutics will post -3.38 earnings per share for the current fiscal year.

In related news, Director Deval L. Patrick sold 42,379 shares of Global Blood Therapeutics stock in a transaction that occurred on Friday, July 6th. The shares were sold at an average price of $43.40, for a total value of $1,839,248.60. Following the completion of the sale, the director now owns 15,000 shares in the company, valued at approximately $651,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lesley Ann Calhoun sold 2,004 shares of the business’s stock in a transaction on Friday, August 17th. The stock was sold at an average price of $49.89, for a total transaction of $99,979.56. Following the completion of the transaction, the insider now owns 1,342 shares of the company’s stock, valued at approximately $66,952.38. The disclosure for this sale can be found here. Insiders sold a total of 48,678 shares of company stock valued at $2,128,844 in the last quarter. 4.40% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of the business. Janus Henderson Group PLC grew its stake in shares of Global Blood Therapeutics by 12.2% in the second quarter. Janus Henderson Group PLC now owns 4,154,385 shares of the company’s stock worth $187,778,000 after acquiring an additional 452,843 shares in the last quarter. BlackRock Inc. grew its stake in shares of Global Blood Therapeutics by 27.7% in the second quarter. BlackRock Inc. now owns 4,142,762 shares of the company’s stock worth $187,252,000 after acquiring an additional 898,162 shares in the last quarter. Franklin Resources Inc. acquired a new position in shares of Global Blood Therapeutics in the first quarter worth $30,023,000. Northern Trust Corp grew its stake in shares of Global Blood Therapeutics by 8.5% in the first quarter. Northern Trust Corp now owns 481,646 shares of the company’s stock worth $23,264,000 after acquiring an additional 37,751 shares in the last quarter. Finally, Nexthera Capital LP grew its stake in shares of Global Blood Therapeutics by 28.2% in the second quarter. Nexthera Capital LP now owns 404,092 shares of the company’s stock worth $18,265,000 after acquiring an additional 88,945 shares in the last quarter. Institutional investors and hedge funds own 99.02% of the company’s stock.

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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