Shares of Global Blood Therapeutics (NASDAQ:GBT) have been assigned an average rating of “Buy” from the fifteen analysts that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation, eleven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $74.60.
GBT has been the topic of a number of research reports. BidaskClub downgraded shares of Global Blood Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, March 10th. Morgan Stanley lifted their price target on shares of Global Blood Therapeutics from $58.00 to $61.00 and gave the company an “overweight” rating in a report on Tuesday, March 6th. ValuEngine upgraded shares of Global Blood Therapeutics from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Cantor Fitzgerald set a $69.00 price target on shares of Global Blood Therapeutics and gave the company a “buy” rating in a report on Wednesday, May 9th. Finally, HC Wainwright set a $73.00 price target on shares of Global Blood Therapeutics and gave the company a “buy” rating in a report on Thursday, May 10th.
In other news, insider Jung Choi sold 3,000 shares of the business’s stock in a transaction dated Tuesday, April 17th. The shares were sold at an average price of $45.50, for a total value of $136,500.00. Following the sale, the insider now directly owns 137,677 shares in the company, valued at approximately $6,264,303.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last 90 days, insiders sold 9,099 shares of company stock worth $493,775. Insiders own 4.40% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. Perceptive Advisors LLC boosted its stake in shares of Global Blood Therapeutics by 14.7% during the 4th quarter. Perceptive Advisors LLC now owns 4,889,066 shares of the company’s stock worth $192,384,000 after purchasing an additional 625,000 shares during the period. Citadel Advisors LLC boosted its stake in shares of Global Blood Therapeutics by 161.7% during the 4th quarter. Citadel Advisors LLC now owns 716,611 shares of the company’s stock worth $28,199,000 after purchasing an additional 442,828 shares during the period. Franklin Resources Inc. purchased a new position in shares of Global Blood Therapeutics during the 1st quarter worth about $30,023,000. RTW Investments LP boosted its stake in shares of Global Blood Therapeutics by 2,186.9% during the 4th quarter. RTW Investments LP now owns 601,683 shares of the company’s stock worth $23,676,000 after purchasing an additional 575,373 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of Global Blood Therapeutics by 8.5% during the 1st quarter. Northern Trust Corp now owns 481,646 shares of the company’s stock worth $23,264,000 after purchasing an additional 37,751 shares during the period. 84.36% of the stock is owned by hedge funds and other institutional investors.
Global Blood Therapeutics traded down $0.50, reaching $48.10, on Thursday, according to MarketBeat.com. The company had a trading volume of 647,991 shares, compared to its average volume of 931,508. The company has a market cap of $2.56 billion, a P/E ratio of -17.43 and a beta of 4.40. Global Blood Therapeutics has a 12 month low of $48.80 and a 12 month high of $49.20.
Global Blood Therapeutics (NASDAQ:GBT) last announced its quarterly earnings results on Monday, May 7th. The company reported ($0.87) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.91) by $0.04. During the same quarter in the prior year, the company earned ($0.60) earnings per share. equities analysts anticipate that Global Blood Therapeutics will post -3.68 earnings per share for the current fiscal year.
About Global Blood Therapeutics
Global Blood Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of novel therapeutics to treat grievous blood-based disorders. Its lead product candidate is voxelotor, an oral once-daily therapy that modulates hemoglobin's affinity for oxygen, which is in Phase III clinical trials in adult and adolescent patients with sickle cell disease (SCD).
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