Global Blood Therapeutics (NASDAQ:GBT) Downgraded by BidaskClub

BidaskClub lowered shares of Global Blood Therapeutics (NASDAQ:GBT) from a strong-buy rating to a buy rating in a research report released on Tuesday, BidAskClub reports.

Other equities analysts also recently issued reports about the stock. Wells Fargo & Co lifted their price target on shares of Global Blood Therapeutics from $85.00 to $96.00 and gave the company an outperform rating in a report on Monday, April 1st. Morgan Stanley lifted their price target on shares of Global Blood Therapeutics from $55.00 to $57.00 and gave the company an equal weight rating in a report on Monday, March 4th. Wedbush reissued a buy rating and set a $107.00 price target (up from $95.00) on shares of Global Blood Therapeutics in a report on Monday, June 3rd. JPMorgan Chase & Co. reissued a buy rating and set a $75.00 price target on shares of Global Blood Therapeutics in a report on Thursday, February 28th. Finally, HC Wainwright set a $150.00 price target on shares of Global Blood Therapeutics and gave the company a buy rating in a report on Friday, April 12th. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Global Blood Therapeutics currently has an average rating of Buy and a consensus price target of $88.29.

NASDAQ:GBT opened at $55.81 on Tuesday. The stock has a market cap of $3.23 billion, a PE ratio of -16.37 and a beta of 1.77. Global Blood Therapeutics has a 52 week low of $30.15 and a 52 week high of $63.00. 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 (NASDAQ:GBT) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.87) EPS for the quarter, topping analysts’ consensus estimates of ($0.94) by $0.07. On average, equities research analysts expect that Global Blood Therapeutics will post -3.58 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. State Board of Administration of Florida Retirement System raised its stake in shares of Global Blood Therapeutics by 1.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 25,279 shares of the company’s stock worth $1,338,000 after acquiring an additional 310 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of Global Blood Therapeutics by 3.7% in the first quarter. BNP Paribas Arbitrage SA now owns 12,522 shares of the company’s stock worth $663,000 after acquiring an additional 447 shares during the last quarter. Metropolitan Life Insurance Co NY raised its stake in shares of Global Blood Therapeutics by 3.4% in the first quarter. Metropolitan Life Insurance Co NY now owns 16,873 shares of the company’s stock worth $893,000 after acquiring an additional 562 shares during the last quarter. Bank of Montreal Can raised its stake in shares of Global Blood Therapeutics by 61.9% in the fourth quarter. Bank of Montreal Can now owns 1,582 shares of the company’s stock worth $65,000 after acquiring an additional 605 shares during the last quarter. Finally, JGP Global Gestao de Recursos Ltda. raised its stake in shares of Global Blood Therapeutics by 10.5% in the first quarter. JGP Global Gestao de Recursos Ltda. now owns 6,370 shares of the company’s stock worth $337,000 after acquiring an additional 606 shares during the last quarter.

Global Blood Therapeutics Company Profile

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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