Global Blood Therapeutics (GBT) Price Target Increased to $57.00 by Analysts at Morgan Stanley

Global Blood Therapeutics (NASDAQ:GBT) had its target price hoisted by Morgan Stanley from $55.00 to $57.00 in a research note released on Monday morning. The firm currently has an equal weight rating on the stock.

GBT has been the topic of a number of other research reports. 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 Monday, November 5th. ValuEngine upgraded shares of Global Blood Therapeutics from a buy rating to a strong-buy rating in a report on Wednesday, November 7th. 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 Monday, December 3rd. BidaskClub upgraded shares of Global Blood Therapeutics from a sell rating to a hold rating in a report on Monday, February 4th. Finally, Guggenheim began coverage on shares of Global Blood Therapeutics in a report on Friday, February 22nd. They issued a buy rating and a $75.00 target price on the stock. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Global Blood Therapeutics has a consensus rating of Buy and a consensus target price of $85.79.

NASDAQ:GBT opened at $49.34 on Monday. Global Blood Therapeutics has a 52 week low of $30.15 and a 52 week high of $62.25. The company has a market cap of $2.65 billion, a PE ratio of -14.47 and a beta of 2.12.

Global Blood Therapeutics (NASDAQ:GBT) last posted its quarterly earnings results on Wednesday, February 27th. The company reported ($0.93) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.89) by ($0.04). During the same quarter in the previous year, the firm posted ($0.95) EPS. As a group, sell-side analysts forecast that Global Blood Therapeutics will post -3.8 EPS for the current year.

A number of hedge funds have recently modified their holdings of the stock. FMR LLC boosted its stake in shares of Global Blood Therapeutics by 6.7% during the 4th quarter. FMR LLC now owns 8,329,399 shares of the company’s stock worth $341,921,000 after acquiring an additional 521,563 shares during the last quarter. Perceptive Advisors LLC boosted its stake in shares of Global Blood Therapeutics by 5.4% during the 4th quarter. Perceptive Advisors LLC now owns 5,425,726 shares of the company’s stock worth $222,726,000 after acquiring an additional 276,816 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Global Blood Therapeutics by 1.0% during the 4th quarter. BlackRock Inc. now owns 4,226,345 shares of the company’s stock worth $173,492,000 after acquiring an additional 40,076 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Global Blood Therapeutics by 2.6% during the 3rd 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. Finally, Vanguard Group Inc boosted its stake in shares of Global Blood Therapeutics by 2.6% during the 3rd 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. Institutional investors own 99.96% 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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