Global Blood Therapeutics (NASDAQ:GBT) has been given a $150.00 target price by research analysts at HC Wainwright in a research note issued to investors on Tuesday. The firm currently has a “buy” rating on the stock. HC Wainwright’s price objective points to a potential upside of 238.75% from the company’s current price.
GBT has been the subject of several other reports. Zacks Investment Research upgraded shares of Global Blood Therapeutics from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a report on Wednesday, October 3rd. ValuEngine cut shares of Global Blood Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 2nd. Cantor Fitzgerald set a $96.00 price objective on shares of Global Blood Therapeutics and gave the company a “buy” rating in a report on Tuesday, October 2nd. Cowen reiterated a “buy” rating and issued a $83.00 price objective on shares of Global Blood Therapeutics in a report on Monday, August 13th. Finally, William Blair reiterated a “buy” rating on shares of Global Blood Therapeutics in a report on Thursday, October 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $83.20.
GBT traded down $2.39 on Tuesday, hitting $44.28. 1,214,752 shares of the company’s stock were exchanged, compared to its average volume of 1,487,306. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of -16.04 and a beta of 3.65. Global Blood Therapeutics has a twelve month low of $30.15 and a twelve month high of $68.05.
Global Blood Therapeutics (NASDAQ:GBT) last announced its quarterly earnings results on Tuesday, November 6th. The company reported ($0.83) EPS for the quarter, beating the consensus estimate of ($0.85) by $0.02. During the same quarter last year, the business posted ($0.66) earnings per share. Equities analysts anticipate that Global Blood Therapeutics will post -3.36 EPS for the current year.
Large investors have recently modified their holdings of the stock. Focused Wealth Management Inc acquired a new position in Global Blood Therapeutics in the 3rd quarter worth approximately $104,000. PNC Financial Services Group Inc. boosted its stake in Global Blood Therapeutics by 740.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 4,353 shares of the company’s stock worth $165,000 after purchasing an additional 3,835 shares during the period. Rehmann Capital Advisory Group acquired a new position in Global Blood Therapeutics in the 3rd quarter worth approximately $165,000. Tiverton Asset Management LLC acquired a new position in Global Blood Therapeutics in the 2nd quarter worth approximately $166,000. Finally, Quantitative Systematic Strategies LLC acquired a new position in Global Blood Therapeutics in the 2nd quarter worth approximately $203,000.
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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