Global Blood Therapeutics (NASDAQ:GBT) Rating Lowered to Sell at BidaskClub

BidaskClub cut shares of Global Blood Therapeutics (NASDAQ:GBT) from a hold rating to a sell rating in a report published on Tuesday, BidAskClub reports.

Several other brokerages also recently weighed in on GBT. Goldman Sachs Group reissued a neutral rating and set a $75.00 price target on shares of Global Blood Therapeutics in a research report on Wednesday, May 29th. Wedbush reissued a buy rating and set a $107.00 price target (up previously from $95.00) on shares of Global Blood Therapeutics in a research report on Monday, June 3rd. HC Wainwright set a $150.00 price target on shares of Global Blood Therapeutics and gave the company a buy rating in a research report on Friday, April 12th. Oppenheimer raised their price target 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. Finally, Cantor Fitzgerald set a $110.00 price target on shares of Global Blood Therapeutics and gave the company a buy rating in a research report on Friday, June 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of Buy and an average target price of $89.29.

Shares of GBT opened at $63.00 on Tuesday. The company has a market cap of $3.35 billion, a P/E ratio of -18.48 and a beta of 1.79. The company has a quick ratio of 14.51, a current ratio of 14.51 and a debt-to-equity ratio of 0.04. Global Blood Therapeutics has a twelve month low of $30.15 and a twelve month high of $63.05.

Global Blood Therapeutics (NASDAQ:GBT) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.87) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.94) by $0.07. On average, sell-side analysts anticipate that Global Blood Therapeutics will post -3.82 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of GBT. FMR LLC lifted its stake in shares of Global Blood Therapeutics by 1.1% during the 1st quarter. FMR LLC now owns 8,417,709 shares of the company’s stock valued at $445,549,000 after buying an additional 88,310 shares in the last quarter. Perceptive Advisors LLC lifted 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 valued at $222,726,000 after buying an additional 276,816 shares in the last quarter. BlackRock Inc. lifted 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 valued at $173,492,000 after buying an additional 40,076 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of Global Blood Therapeutics by 75.6% during the 4th quarter. Bank of America Corp DE now owns 2,543,161 shares of the company’s stock valued at $104,397,000 after buying an additional 1,094,742 shares in the last quarter. Finally, Great Point Partners LLC purchased a new position in shares of Global Blood Therapeutics during the 4th quarter valued at $48,439,000.

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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