Brokerages Set Global Blood Therapeutics Inc (NASDAQ:GBT) PT at $96.60

Global Blood Therapeutics Inc (NASDAQ:GBT) has earned a consensus rating of “Buy” from the nineteen ratings firms that are covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold recommendation, twelve have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $96.60.

GBT has been the topic of a number of research analyst reports. Cowen set a $83.00 price objective on shares of Global Blood Therapeutics and gave the stock a “buy” rating in a report on Wednesday, October 9th. ValuEngine lowered shares of Global Blood Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, December 3rd. Oppenheimer reaffirmed a “buy” rating and issued a $100.00 target price on shares of Global Blood Therapeutics in a research note on Monday, December 9th. William Blair reaffirmed a “buy” rating on shares of Global Blood Therapeutics in a research note on Wednesday, December 18th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and issued a $98.00 target price (down previously from $110.00) on shares of Global Blood Therapeutics in a research note on Monday, November 25th.

In other news, insider De Dominicis Robert 490,012 shares of the company’s stock in a transaction on Tuesday, October 22nd. Also, insider Ted W. Love sold 40,000 shares of Global Blood Therapeutics stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $74.97, for a total transaction of $2,998,800.00. Following the completion of the sale, the insider now owns 1,166,580 shares in the company, valued at $87,458,502.60. The disclosure for this sale can be found here. Insiders sold a total of 97,490 shares of company stock worth $7,020,482 over the last quarter. 4.30% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of GBT. Wells Fargo & Company MN raised its holdings in shares of Global Blood Therapeutics by 20.3% in the second quarter. Wells Fargo & Company MN now owns 167,344 shares of the company’s stock valued at $8,802,000 after purchasing an additional 28,203 shares during the last quarter. Allianz Asset Management GmbH raised its holdings in shares of Global Blood Therapeutics by 195.4% in the second quarter. Allianz Asset Management GmbH now owns 29,000 shares of the company’s stock valued at $1,525,000 after purchasing an additional 19,183 shares during the last quarter. Prudential Financial Inc. raised its holdings in shares of Global Blood Therapeutics by 11.1% in the second quarter. Prudential Financial Inc. now owns 5,623 shares of the company’s stock valued at $296,000 after purchasing an additional 560 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Global Blood Therapeutics by 567.5% in the second quarter. Bank of Montreal Can now owns 5,841 shares of the company’s stock valued at $307,000 after purchasing an additional 4,966 shares during the last quarter. Finally, Oppenheimer & Co. Inc. grew its stake in shares of Global Blood Therapeutics by 22.8% in the second quarter. Oppenheimer & Co. Inc. now owns 11,230 shares of the company’s stock valued at $591,000 after buying an additional 2,086 shares in the last quarter. Institutional investors own 98.42% of the company’s stock.

NASDAQ:GBT traded up $3.08 during mid-day trading on Tuesday, reaching $84.31. 1,036,842 shares of the company were exchanged, compared to its average volume of 937,808. Global Blood Therapeutics has a 12 month low of $43.69 and a 12 month high of $86.06. The company has a fifty day moving average of $76.66 and a 200 day moving average of $57.50. The company has a quick ratio of 14.95, a current ratio of 14.95 and a debt-to-equity ratio of 0.04. The stock has a market cap of $4.89 billion, a PE ratio of -24.72 and a beta of 1.75.

Global Blood Therapeutics (NASDAQ:GBT) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($1.07) EPS for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.04). During the same period in the previous year, the company earned ($0.83) EPS. On average, equities research analysts anticipate that Global Blood Therapeutics will post -4.2 EPS for the current fiscal year.

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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Analyst Recommendations for Global Blood Therapeutics (NASDAQ:GBT)

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