Global Blood Therapeutics (GBT) Given New $96.00 Price Target at Wells Fargo & Co

Global Blood Therapeutics (NASDAQ:GBT) had its price target boosted by investment analysts at Wells Fargo & Co from $85.00 to $96.00 in a report released on Monday, The Fly reports. The firm presently has an “outperform” rating on the stock. Wells Fargo & Co‘s price objective would indicate a potential upside of 81.47% from the company’s previous close.

GBT has been the subject of several other reports. Oppenheimer set a $82.00 target price on shares of Global Blood Therapeutics and gave the company a “buy” rating in a research note on Monday, December 3rd. Cantor Fitzgerald set a $96.00 target price on shares of Global Blood Therapeutics and gave the company a “buy” rating in a research note on Monday, December 3rd. William Blair reiterated a “buy” rating on shares of Global Blood Therapeutics in a research note on Monday, December 3rd. HC Wainwright set a $150.00 target price on shares of Global Blood Therapeutics and gave the company a “buy” rating in a research note on Tuesday, December 4th. Finally, SunTrust Banks raised their target price on shares of Global Blood Therapeutics to $90.00 and gave the company a “positive” rating in a research note on Tuesday, December 4th. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $86.57.

Shares of NASDAQ GBT opened at $52.90 on Monday. The stock has a market capitalization of $2.98 billion, a PE ratio of -15.51 and a beta of 2.12. Global Blood Therapeutics has a fifty-two week low of $30.15 and a fifty-two week high of $54.88.

Global Blood Therapeutics (NASDAQ:GBT) last announced its quarterly earnings data on Wednesday, February 27th. The company reported ($0.93) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.88) by ($0.05). During the same quarter in the prior year, the company posted ($0.95) earnings per share. On average, sell-side analysts expect that Global Blood Therapeutics will post -3.89 earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the business. Taylor Wealth Management Partners lifted its position in Global Blood Therapeutics by 6.2% during the fourth quarter. Taylor Wealth Management Partners now owns 44,788 shares of the company’s stock worth $1,839,000 after acquiring an additional 2,605 shares during the last quarter. Emory University lifted its position in Global Blood Therapeutics by 16.1% during the fourth quarter. Emory University now owns 62,643 shares of the company’s stock worth $2,571,000 after acquiring an additional 8,692 shares during the last quarter. Strs Ohio acquired a new stake in Global Blood Therapeutics during the fourth quarter worth approximately $65,000. Creative Planning lifted its position in Global Blood Therapeutics by 222.1% during the fourth quarter. Creative Planning now owns 73,200 shares of the company’s stock worth $3,005,000 after acquiring an additional 50,472 shares during the last quarter. Finally, Vanguard Group Inc lifted its position in Global Blood Therapeutics by 2.6% during 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.

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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