BidaskClub Lowers Global Blood Therapeutics (NASDAQ:GBT) to Buy

Global Blood Therapeutics (NASDAQ:GBT) was downgraded by equities research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Tuesday, BidAskClub reports.

GBT has been the topic of a number of other research reports. Wedbush restated an “outperform” rating and set a $95.00 price objective on shares of Global Blood Therapeutics in a research report on Thursday, April 18th. Goldman Sachs Group restated a “neutral” rating and set a $75.00 price objective on shares of Global Blood Therapeutics in a research report on Wednesday, May 29th. ValuEngine upgraded shares of Global Blood Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 1st. Wells Fargo & Co increased their price objective on shares of Global Blood Therapeutics from $85.00 to $96.00 and gave the company an “outperform” rating in a research report on Monday, April 1st. Finally, Oppenheimer increased their price objective on shares of Global Blood Therapeutics from $82.00 to $89.00 and gave the company an “outperform” rating in a research report on Thursday, May 9th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Global Blood Therapeutics has a consensus rating of “Buy” and a consensus target price of $88.29.

NASDAQ:GBT opened at $54.82 on Tuesday. Global Blood Therapeutics has a 52 week low of $30.15 and a 52 week high of $63.00. The company has a debt-to-equity ratio of 0.04, a quick ratio of 14.51 and a current ratio of 14.51. The company has a market cap of $3.15 billion, a PE ratio of -16.08 and a beta of 1.79.

Global Blood Therapeutics (NASDAQ:GBT) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.87) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.94) by $0.07. As a group, equities analysts predict that Global Blood Therapeutics will post -3.58 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of Montreal Can grew its stake in Global Blood Therapeutics by 61.9% in the fourth quarter. Bank of Montreal Can now owns 1,582 shares of the company’s stock valued at $65,000 after acquiring an additional 605 shares during the period. Strs Ohio acquired a new position in Global Blood Therapeutics in the fourth quarter valued at about $65,000. Xact Kapitalforvaltning AB grew its stake in Global Blood Therapeutics by 8.9% in the fourth quarter. Xact Kapitalforvaltning AB now owns 8,544 shares of the company’s stock valued at $351,000 after acquiring an additional 700 shares during the period. Rhumbline Advisers grew its stake in Global Blood Therapeutics by 47.2% in the fourth quarter. Rhumbline Advisers now owns 66,481 shares of the company’s stock valued at $2,729,000 after acquiring an additional 21,302 shares during the period. Finally, SG Americas Securities LLC acquired a new position in Global Blood Therapeutics in the fourth quarter valued at about $462,000.

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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