Global Blood Therapeutics (NASDAQ:GBT) Given a $74.00 Price Target by Wedbush Analysts

Wedbush set a $74.00 price target on Global Blood Therapeutics (NASDAQ:GBT – Get Rating) in a report released on Monday, Stock Target Advisor reports.

Several other equities research analysts also recently issued reports on GBT. Oppenheimer cut their price target on Global Blood Therapeutics from $86.00 to $71.00 in a report on Thursday, May 5th. Cantor Fitzgerald started coverage on Global Blood Therapeutics in a report on Thursday, April 28th. They set a buy rating and a $75.00 price target for the company. Morgan Stanley raised their price target on Global Blood Therapeutics from $28.00 to $31.00 and gave the company an equal weight rating in a report on Monday, February 28th. StockNews.com upgraded Global Blood Therapeutics from a sell rating to a hold rating in a research report on Thursday, May 5th. Finally, Cowen lowered their price objective on Global Blood Therapeutics from $72.00 to $67.00 in a research report on Thursday, February 24th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $58.67.

NASDAQ GBT opened at $30.93 on Monday. The stock has a 50 day moving average of $27.77 and a 200-day moving average of $29.58. Global Blood Therapeutics has a 12 month low of $21.65 and a 12 month high of $40.69. The company has a market cap of $2.01 billion, a PE ratio of -6.35 and a beta of 1.11. The company has a current ratio of 8.52, a quick ratio of 7.74 and a debt-to-equity ratio of 4.34.

Global Blood Therapeutics (NASDAQ:GBT – Get Rating) last announced its quarterly earnings results on Wednesday, May 4th. The company reported ($1.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.29) by $0.03. Global Blood Therapeutics had a negative return on equity of 129.74% and a negative net margin of 146.82%. The business had revenue of $55.20 million during the quarter, compared to the consensus estimate of $56.13 million. During the same quarter last year, the firm posted ($1.21) EPS. The company’s quarterly revenue was up 41.5% on a year-over-year basis. As a group, sell-side analysts predict that Global Blood Therapeutics will post -4.64 EPS for the current fiscal year.

In related news, Director Philip A. Pizzo sold 1,260 shares of the firm’s stock in a transaction on Tuesday, June 21st. The stock was sold at an average price of $27.25, for a total value of $34,335.00. Following the transaction, the director now owns 9,112 shares in the company, valued at $248,302. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.70% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Eubel Brady & Suttman Asset Management Inc. bought a new position in shares of Global Blood Therapeutics in the first quarter worth $17,322,000. Janus Henderson Group PLC boosted its stake in Global Blood Therapeutics by 1.7% in the third quarter. Janus Henderson Group PLC now owns 6,272,682 shares of the company’s stock valued at $159,826,000 after buying an additional 104,532 shares in the last quarter. Vanguard Group Inc. boosted its stake in Global Blood Therapeutics by 0.5% in the first quarter. Vanguard Group Inc. now owns 6,024,262 shares of the company’s stock valued at $208,680,000 after buying an additional 31,120 shares in the last quarter. Perceptive Advisors LLC boosted its stake in Global Blood Therapeutics by 6.1% in the third quarter. Perceptive Advisors LLC now owns 4,407,399 shares of the company’s stock valued at $112,300,000 after buying an additional 254,710 shares in the last quarter. Finally, State Street Corp boosted its stake in Global Blood Therapeutics by 9.0% in the first quarter. State Street Corp now owns 3,456,012 shares of the company’s stock valued at $119,716,000 after buying an additional 284,877 shares in the last quarter.

Global Blood Therapeutics Company Profile (Get Rating)

Global Blood Therapeutics, Inc, a biopharmaceutical company, engages in the discovery, development, and delivery of treatments for underserved patient communities with sickle cell disease (SCD). The company offers Oxbryta tablets, an oral, once-daily therapy for SCD. It also evaluates the safety and pharmacokinetics of single and multiple doses of Oxbryta in a Phase II a clinical trial of adolescent and pediatric patients with SCD.

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