Wedbush Reaffirms “Buy” Rating for Global Blood Therapeutics (NASDAQ:GBT)

Wedbush restated their buy rating on shares of Global Blood Therapeutics (NASDAQ:GBT) in a research report released on Wednesday, AnalystRatings.com reports. They currently have a $120.00 target price on the stock.

Other equities analysts have also issued research reports about the stock. Cowen set a $83.00 price objective on shares of Global Blood Therapeutics and gave the stock a buy rating in a report on Thursday, September 5th. BidaskClub lowered shares of Global Blood Therapeutics from a hold rating to a sell rating in a report on Tuesday, October 1st. Cantor Fitzgerald set a $110.00 price objective on shares of Global Blood Therapeutics and gave the stock a buy rating in a report on Friday, June 14th. ValuEngine lowered shares of Global Blood Therapeutics from a buy rating to a hold rating in a report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. reissued a buy rating on shares of Global Blood Therapeutics in a research report on Thursday, September 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $90.42.

GBT stock traded up $0.56 during trading on Wednesday, reaching $46.53. The stock had a trading volume of 930,883 shares, compared to its average volume of 781,552. Global Blood Therapeutics has a 1-year low of $30.15 and a 1-year high of $64.94. The company has a debt-to-equity ratio of 0.03, a quick ratio of 16.79 and a current ratio of 16.79. The firm has a fifty day moving average price of $49.66 and a 200 day moving average price of $54.28.

Global Blood Therapeutics (NASDAQ:GBT) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($1.01) EPS for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.05). During the same period in the previous year, the business posted ($0.78) EPS. On average, research analysts anticipate that Global Blood Therapeutics will post -4 earnings per share for the current fiscal year.

In related news, Director Deval L. Patrick sold 5,357 shares of the business’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $45.05, for a total transaction of $241,332.85. Following the completion of the sale, the director now owns 5,357 shares of the company’s stock, valued at approximately $241,332.85. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Lesley Ann Calhoun sold 2,765 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $54.36, for a total transaction of $150,305.40. Following the sale, the insider now directly owns 887 shares of the company’s stock, valued at approximately $48,217.32. The disclosure for this sale can be found here. Insiders sold a total of 11,371 shares of company stock valued at $549,865 in the last three months. Insiders own 4.30% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. Taylor Wealth Management Partners grew its position in shares of Global Blood Therapeutics by 0.5% during the 2nd quarter. Taylor Wealth Management Partners now owns 44,801 shares of the company’s stock valued at $2,357,000 after buying an additional 217 shares during the last quarter. Truvestments Capital LLC grew its position in shares of Global Blood Therapeutics by 48.0% during the 3rd quarter. Truvestments Capital LLC now owns 925 shares of the company’s stock valued at $45,000 after buying an additional 300 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Global Blood Therapeutics by 17.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,265 shares of the company’s stock valued at $172,000 after buying an additional 482 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new stake in shares of Global Blood Therapeutics during the 2nd quarter valued at about $27,000. Finally, Prudential Financial Inc. grew its position in shares of Global Blood Therapeutics by 11.1% during the 2nd quarter. Prudential Financial Inc. now owns 5,623 shares of the company’s stock valued at $296,000 after buying an additional 560 shares during the last quarter. 97.99% of the stock is owned by institutional investors and hedge funds.

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.

See Also: Recession

Analyst Recommendations for Global Blood Therapeutics (NASDAQ:GBT)

Receive News & Ratings for Global Blood Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Blood Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.