Global Blood Therapeutics (GBT) Stock Rating Reaffirmed by William Blair

Global Blood Therapeutics (NASDAQ:GBT)‘s stock had its “buy” rating reissued by investment analysts at William Blair in a research note issued to investors on Thursday.

Several other research firms also recently weighed in on GBT. Cantor Fitzgerald upped their price objective on shares of Global Blood Therapeutics from $69.00 to $96.00 and gave the stock an “overweight” rating in a report on Wednesday, June 27th. Wells Fargo & Co upped their price objective on shares of Global Blood Therapeutics from $78.00 to $85.00 and gave the stock an “outperform” rating in a report on Wednesday, June 27th. HC Wainwright upped their price objective on shares of Global Blood Therapeutics from $73.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, June 27th. Nomura upped their price objective on shares of Global Blood Therapeutics from $91.00 to $109.00 and gave the stock a “buy” rating in a report on Thursday, June 28th. Finally, Zacks Investment Research raised shares of Global Blood Therapeutics from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a report on Thursday, July 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $79.67.

Shares of GBT traded up $2.05 during midday trading on Thursday, hitting $37.90. 57,222 shares of the stock traded hands, compared to its average volume of 1,033,453. Global Blood Therapeutics has a 1-year low of $29.95 and a 1-year high of $68.05. The company has a market cap of $1.98 billion, a price-to-earnings ratio of -13.83 and a beta of 4.33.

Global Blood Therapeutics (NASDAQ:GBT) last announced its quarterly earnings results on Thursday, August 2nd. The company reported ($0.78) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.87) by $0.09. During the same quarter last year, the company posted ($0.55) EPS. On average, equities analysts expect that Global Blood Therapeutics will post -3.38 EPS for the current fiscal year.

In other Global Blood Therapeutics news, insider Lesley Ann Calhoun sold 2,004 shares of the business’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $49.89, for a total value of $99,979.56. Following the sale, the insider now directly owns 1,342 shares in the company, valued at $66,952.38. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.40% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the business. Janus Henderson Group PLC raised its holdings in Global Blood Therapeutics by 12.2% during the 2nd quarter. Janus Henderson Group PLC now owns 4,154,385 shares of the company’s stock worth $187,778,000 after buying an additional 452,843 shares during the period. BlackRock Inc. raised its holdings in Global Blood Therapeutics by 27.7% during the 2nd quarter. BlackRock Inc. now owns 4,142,762 shares of the company’s stock worth $187,252,000 after buying an additional 898,162 shares during the period. Northern Trust Corp raised its holdings in Global Blood Therapeutics by 25.1% during the 2nd quarter. Northern Trust Corp now owns 602,689 shares of the company’s stock worth $27,241,000 after buying an additional 121,043 shares during the period. Nexthera Capital LP raised its holdings in Global Blood Therapeutics by 28.2% during the 2nd quarter. Nexthera Capital LP now owns 404,092 shares of the company’s stock worth $18,265,000 after buying an additional 88,945 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its holdings in Global Blood Therapeutics by 21.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 258,143 shares of the company’s stock worth $11,669,000 after buying an additional 45,038 shares during the period. Hedge funds and other institutional investors own 98.79% of the company’s stock.

About Global Blood Therapeutics

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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Analyst Recommendations for Global Blood Therapeutics (NASDAQ:GBT)

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