Global Blood Therapeutics (NASDAQ:GBT) received a $74.00 price objective from equities research analysts at Oppenheimer in a research report issued on Thursday. The firm currently has a “buy” rating on the stock. Oppenheimer’s target price would suggest a potential upside of 91.96% from the company’s current price.
Several other equities research analysts have also issued reports on GBT. ValuEngine raised shares of Global Blood Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 18th. BidaskClub raised shares of Global Blood Therapeutics from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 8th. Cantor Fitzgerald set a $96.00 price target on shares of Global Blood Therapeutics and gave the company a “buy” rating in a report on Tuesday, October 23rd. HC Wainwright set a $125.00 price target on shares of Global Blood Therapeutics and gave the company a “buy” rating in a report on Thursday, August 23rd. Finally, Piper Jaffray Companies started coverage on shares of Global Blood Therapeutics in a research report on Monday, August 6th. They set an “overweight” rating and a $80.00 target price on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued 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 Global Blood Therapeutics stock traded down $0.86 during midday trading on Thursday, hitting $38.55. 1,223,321 shares of the company traded hands, compared to its average volume of 1,207,239. The firm has a market capitalization of $1.83 billion, a PE ratio of -13.97 and a beta of 3.68. Global Blood Therapeutics has a 12 month low of $31.50 and a 12 month high of $68.05.
In related news, insider Lesley Ann Calhoun sold 2,004 shares of Global Blood Therapeutics stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $49.89, for a total transaction of $99,979.56. Following the sale, the insider now directly owns 1,342 shares in the company, valued at approximately $66,952.38. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 4.40% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of GBT. Tiverton Asset Management LLC acquired a new position in shares of Global Blood Therapeutics in the 2nd quarter worth approximately $166,000. Quantitative Systematic Strategies LLC acquired a new position in shares of Global Blood Therapeutics in the 2nd quarter worth approximately $203,000. Public Employees Retirement Association of Colorado lifted its position in shares of Global Blood Therapeutics by 148.3% in the 3rd quarter. Public Employees Retirement Association of Colorado now owns 5,512 shares of the company’s stock worth $209,000 after purchasing an additional 3,292 shares during the period. Great West Life Assurance Co. Can lifted its position in shares of Global Blood Therapeutics by 42.0% in the 2nd quarter. Great West Life Assurance Co. Can now owns 4,969 shares of the company’s stock worth $224,000 after purchasing an additional 1,469 shares during the period. Finally, Federated Investors Inc. PA acquired a new position in shares of Global Blood Therapeutics in the 2nd quarter worth approximately $226,000. Institutional investors and hedge funds own 98.93% 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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