Global Blood Therapeutics (GBT) Stock Rating Upgraded by ValuEngine

ValuEngine upgraded shares of Global Blood Therapeutics (NASDAQ:GBT) from a buy rating to a strong-buy rating in a research note published on Thursday morning.

Other equities analysts have also issued reports about the stock. Cantor Fitzgerald raised their price target on shares of Global Blood Therapeutics from $69.00 to $96.00 and gave the stock an overweight rating in a research report on Wednesday, June 27th. Wells Fargo & Co raised their price target on shares of Global Blood Therapeutics from $78.00 to $85.00 and gave the stock an outperform rating in a research report on Wednesday, June 27th. HC Wainwright raised their price target on shares of Global Blood Therapeutics from $73.00 to $125.00 and gave the stock a buy rating in a research report on Wednesday, June 27th. Nomura raised their price target on shares of Global Blood Therapeutics from $91.00 to $109.00 and gave the stock a buy rating in a research 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 target on the stock in a research report on Thursday, July 19th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of Buy and an average target price of $79.67.

Shares of GBT traded up $0.71 during trading hours on Thursday, hitting $38.87. The company had a trading volume of 57,691 shares, compared to its average volume of 954,778. The firm has a market capitalization of $1.87 billion, a PE ratio of -14.30 and a beta of 4.32. Global Blood Therapeutics has a 12 month low of $29.95 and a 12 month high of $68.05.

Global Blood Therapeutics (NASDAQ:GBT) last issued its quarterly earnings data on Thursday, August 2nd. The company reported ($0.78) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.87) by $0.09. During the same quarter in the prior year, the business earned ($0.55) earnings per share. As a group, sell-side analysts expect that Global Blood Therapeutics will post -3.38 EPS for the current year.

In other Global Blood Therapeutics news, insider Lesley Ann Calhoun sold 2,004 shares of the firm’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 transaction, the insider now directly owns 1,342 shares of the company’s stock, valued at approximately $66,952.38. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 4.40% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in GBT. BlackRock Inc. increased its holdings in Global Blood Therapeutics by 27.7% in the 2nd quarter. BlackRock Inc. now owns 4,142,762 shares of the company’s stock valued at $187,252,000 after buying an additional 898,162 shares during the period. Janus Henderson Group PLC increased its holdings in Global Blood Therapeutics by 12.2% in the 2nd quarter. Janus Henderson Group PLC now owns 4,154,385 shares of the company’s stock valued at $187,778,000 after buying an additional 452,843 shares during the period. Northern Trust Corp increased its holdings in Global Blood Therapeutics by 25.1% in the 2nd quarter. Northern Trust Corp now owns 602,689 shares of the company’s stock valued at $27,241,000 after buying an additional 121,043 shares during the period. Royal Bank of Canada increased its holdings in Global Blood Therapeutics by 195.0% in the 1st quarter. Royal Bank of Canada now owns 175,113 shares of the company’s stock valued at $8,458,000 after buying an additional 115,746 shares during the period. Finally, grace capital bought a new position in Global Blood Therapeutics in the 2nd quarter valued at about $13,970,000. 98.79% of the stock is currently owned by hedge funds and other institutional investors.

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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