Global Blood Therapeutics (GBT) Receives New Coverage from Analysts at Janney Montgomery Scott

Janney Montgomery Scott started coverage on shares of Global Blood Therapeutics (NASDAQ:GBT) in a report released on Tuesday. The brokerage issued a buy rating on the stock.

Several other equities analysts have also recently commented on the stock. Zacks Investment Research raised shares of Global Blood Therapeutics from a sell rating to a hold rating in a research note on Wednesday, December 6th. Cowen reaffirmed a buy rating and set a $83.00 price objective on shares of Global Blood Therapeutics in a research note on Thursday, November 9th. Wedbush reissued an outperform rating and issued a $73.00 price target on shares of Global Blood Therapeutics in a research note on Friday, December 15th. Nomura boosted their price target on shares of Global Blood Therapeutics to $91.00 and gave the stock a buy rating in a research note on Monday, December 11th. Finally, Oppenheimer set a $79.00 price target on shares of Global Blood Therapeutics and gave the stock a buy rating in a research note on Tuesday, December 12th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $63.27.

Global Blood Therapeutics (NASDAQ:GBT) opened at $60.35 on Tuesday. Global Blood Therapeutics has a 12 month low of $20.25 and a 12 month high of $65.40.

In other news, insider Peter Radovich sold 812 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $57.30, for a total value of $46,527.60. Following the completion of the sale, the insider now owns 6,221 shares of the company’s stock, valued at approximately $356,463.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jung Choi sold 3,000 shares of the company’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $52.85, for a total transaction of $158,550.00. Following the completion of the sale, the insider now directly owns 137,255 shares of the company’s stock, valued at approximately $7,253,926.75. The disclosure for this sale can be found here. In the last three months, insiders sold 51,812 shares of company stock valued at $2,864,728. Corporate insiders own 5.30% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Perceptive Advisors LLC boosted its stake in shares of Global Blood Therapeutics by 8.4% in the 3rd quarter. Perceptive Advisors LLC now owns 4,264,066 shares of the company’s stock valued at $132,399,000 after purchasing an additional 330,139 shares in the last quarter. BlackRock Inc. raised its holdings in Global Blood Therapeutics by 30.0% during the 2nd quarter. BlackRock Inc. now owns 3,404,538 shares of the company’s stock valued at $93,114,000 after buying an additional 785,691 shares during the last quarter. Vanguard Group Inc. raised its holdings in Global Blood Therapeutics by 15.7% during the 2nd quarter. Vanguard Group Inc. now owns 2,933,251 shares of the company’s stock valued at $80,224,000 after buying an additional 397,271 shares during the last quarter. Orbimed Advisors LLC raised its holdings in Global Blood Therapeutics by 10.2% during the 3rd quarter. Orbimed Advisors LLC now owns 2,393,635 shares of the company’s stock valued at $74,322,000 after buying an additional 221,700 shares during the last quarter. Finally, State Street Corp raised its holdings in Global Blood Therapeutics by 217.9% during the 2nd quarter. State Street Corp now owns 2,138,323 shares of the company’s stock valued at $58,479,000 after buying an additional 1,465,595 shares during the last quarter. 85.95% of the stock is owned by institutional investors.

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Global Blood Therapeutics Company Profile

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).

Analyst Recommendations for Global Blood Therapeutics (NASDAQ:GBT)

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