Global Blood Therapeutics Inc. (GBT) Lifted to Buy at Zacks Investment Research
Global Blood Therapeutics Inc. (NASDAQ:GBT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The firm presently has a $20.00 price objective on the stock. Zacks Investment Research’s price target points to a potential upside of 9.59% from the company’s current price.
According to Zacks, “Global Blood Therapeutics, Inc. is a biopharmaceutical company which is engaged in discovering, developing and commercializing novel therapeutics to treat grievous blood-based disorders. Its product candidate consists of GBT440 is an oral, once-daily prophylactic therapy for sickle cell disease which is in clinical trial. The company in addition to GBT is involved in research and development activities targeted hypoxemic pulmonary disorders, including idiopathic pulmonary fibrosis and hereditary angioedema. Global Blood Therapeutics, Inc. is based in South San Francisco, California. “
Other equities analysts also recently issued research reports about the company. Morgan Stanley reissued a “buy” rating and set a $62.00 price target on shares of Global Blood Therapeutics in a research report on Sunday, August 14th. Wells Fargo & Co. started coverage on Global Blood Therapeutics in a research report on Friday, September 30th. They set an “outperform” rating and a $23.05 price target on the stock. Finally, Wedbush reissued an “outperform” rating and set a $66.00 price target on shares of Global Blood Therapeutics in a research report on Monday, August 22nd. Five research analysts have rated the stock with a buy rating, Global Blood Therapeutics has an average rating of “Buy” and a consensus price target of $46.18.
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Global Blood Therapeutics (NASDAQ:GBT) traded down 1.88% during trading on Tuesday, hitting $18.25. The company had a trading volume of 435,572 shares. The stock has a 50-day moving average of $20.06 and a 200 day moving average of $19.48. Global Blood Therapeutics has a one year low of $12.24 and a one year high of $55.74. The company’s market capitalization is $680.45 million.
Global Blood Therapeutics (NASDAQ:GBT) last announced its quarterly earnings results on Wednesday, August 10th. The company reported ($0.58) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.05. During the same period last year, the company posted ($4.84) EPS. Equities analysts forecast that Global Blood Therapeutics will post $0.74 EPS for the current fiscal year.
Institutional investors have recently bought and sold shares of the stock. American International Group Inc. increased its position in Global Blood Therapeutics by 104.2% in the second quarter. American International Group Inc. now owns 8,096 shares of the company’s stock valued at $134,000 after buying an additional 4,131 shares during the last quarter. Nationwide Fund Advisors boosted its stake in shares of Global Blood Therapeutics by 101.7% in the second quarter. Nationwide Fund Advisors now owns 9,100 shares of the company’s stock valued at $151,000 after buying an additional 4,588 shares during the period. GSA Capital Partners LLP bought a new stake in shares of Global Blood Therapeutics during the second quarter valued at about $181,000. Metropolitan Life Insurance Co. NY bought a new stake in shares of Global Blood Therapeutics during the second quarter valued at about $191,000. Finally, Rhumbline Advisers bought a new stake in shares of Global Blood Therapeutics during the second quarter valued at about $194,000. 62.67% of the stock is currently owned by institutional investors.
Global Blood Therapeutics Company Profile
Global Blood Therapeutics, Inc is a clinical-stage biopharmaceutical company. The Company is engaged in discovering, developing and commercializing therapeutics to treat blood-based disorders. The Company’s segment is engaged in discovering, developing and commercializing therapeutics to treat blood-based disorders.
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