Global Blood Therapeutics (GBT) Downgraded by ValuEngine

ValuEngine cut shares of Global Blood Therapeutics (NASDAQ:GBT) from a hold rating to a sell rating in a research note released on Friday morning.

Other analysts have also recently issued research reports about the company. Oppenheimer began coverage on Global Blood Therapeutics in a research report on Friday, August 4th. They issued an outperform rating and a $53.00 price target for the company. BidaskClub raised Global Blood Therapeutics from a sell rating to a hold rating in a research report on Thursday, August 17th. Cowen reaffirmed an outperform rating and issued a $83.00 price target on shares of Global Blood Therapeutics in a research report on Monday, August 14th. Wedbush reaffirmed an ourperform rating and issued a $73.00 price target on shares of Global Blood Therapeutics in a research report on Monday, September 18th. Finally, Needham & Company LLC began coverage on Global Blood Therapeutics in a research report on Wednesday, September 20th. They issued a buy rating and a $51.00 price target for the company. Two equities research analysts have rated the stock with a sell rating and fourteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $56.38.

Shares of Global Blood Therapeutics (NASDAQ:GBT) opened at $39.75 on Friday. Global Blood Therapeutics has a 12-month low of $13.35 and a 12-month high of $43.95.

Global Blood Therapeutics (NASDAQ:GBT) last announced its quarterly earnings results on Thursday, November 2nd. The company reported ($0.66) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.04). During the same period in the prior year, the business earned ($0.58) earnings per share. research analysts anticipate that Global Blood Therapeutics will post -2.53 EPS for the current fiscal year.

In other news, Director Charles J. Homcy sold 70,000 shares of Global Blood Therapeutics stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $33.97, for a total value of $2,377,900.00. Following the transaction, the director now directly owns 83,328 shares in the company, valued at $2,830,652.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Peter Radovich sold 12,500 shares of Global Blood Therapeutics stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $35.00, for a total value of $437,500.00. Following the completion of the transaction, the vice president now owns 2,684 shares in the company, valued at $93,940. The disclosure for this sale can be found here. Insiders sold 88,500 shares of company stock worth $3,003,350 over the last quarter. 5.30% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the company. Legal & General Group Plc increased its stake in Global Blood Therapeutics by 10.1% during the first quarter. Legal & General Group Plc now owns 4,816 shares of the company’s stock valued at $178,000 after acquiring an additional 440 shares during the period. Schwab Charles Investment Management Inc. increased its stake in Global Blood Therapeutics by 66.8% during the first quarter. Schwab Charles Investment Management Inc. now owns 110,805 shares of the company’s stock valued at $4,084,000 after acquiring an additional 44,383 shares during the period. Bank of America Corp DE increased its stake in Global Blood Therapeutics by 103.6% during the first quarter. Bank of America Corp DE now owns 7,141 shares of the company’s stock valued at $263,000 after acquiring an additional 3,633 shares during the period. State Street Corp increased its stake in Global Blood Therapeutics by 132.0% during the first quarter. State Street Corp now owns 672,728 shares of the company’s stock valued at $24,788,000 after acquiring an additional 382,744 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in Global Blood Therapeutics by 53.0% during the second quarter. Russell Investments Group Ltd. now owns 44,014 shares of the company’s stock valued at $1,203,000 after acquiring an additional 15,253 shares during the period. Institutional investors and hedge funds own 90.48% of the company’s stock.

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About Global Blood Therapeutics

Global Blood Therapeutics, Inc is a clinical-stage biopharmaceutical company. The Company is engaged in discovering, developing and commercializing therapeutics to treat blood-based disorders. The Company is developing its initial product candidate, GBT440, as an oral, once-daily therapy for sickle cell disease (SCD).

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Global Blood Therapeutics (NASDAQ:GBT)

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