Global Blood Therapeutics Inc. (GBT) Upgraded 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 research note issued on Tuesday. The firm currently has a $20.00 target price on the stock. Zacks Investment Research’s target price indicates 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. “
GBT has been the topic of several other research reports. Wedbush reaffirmed an “outperform” rating and set a $66.00 price target on shares of Global Blood Therapeutics in a research report on Monday, August 22nd. Wells Fargo & Co. initiated coverage on shares of Global Blood Therapeutics in a report on Friday, September 30th. They issued an “outperform” rating and a $23.05 target price on the stock. Finally, Morgan Stanley reissued a “buy” rating and issued a $62.00 target price on shares of Global Blood Therapeutics in a report on Sunday, August 14th. Five equities research analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and an average target price of $46.18.
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Shares of Global Blood Therapeutics (NASDAQ:GBT) traded down 1.88% during midday trading on Tuesday, hitting $18.25. The stock had a trading volume of 435,572 shares. Global Blood Therapeutics has a 12-month low of $12.24 and a 12-month high of $55.74. The stock has a 50-day moving average price of $20.06 and a 200-day moving average price of $19.48. The stock’s market cap is $680.45 million.
Global Blood Therapeutics (NASDAQ:GBT) last issued its quarterly earnings results on Wednesday, August 10th. The company reported ($0.58) EPS for the quarter, topping the consensus estimate of ($0.63) by $0.05. During the same quarter in the prior year, the firm posted ($4.84) EPS. Equities analysts forecast that Global Blood Therapeutics will post $0.74 earnings per share for the current year.
Several large investors have recently made changes to their positions in the stock. LMR Partners LLP purchased a new stake in shares of Global Blood Therapeutics during the second quarter valued at approximately $1,054,000. FNY Managed Accounts LLC purchased a new stake in shares of Global Blood Therapeutics during the second quarter valued at approximately $1,671,000. Candriam Luxembourg S.C.A. purchased a new stake in shares of Global Blood Therapeutics during the second quarter valued at approximately $581,000. Marcus Capital LLC purchased a new stake in shares of Global Blood Therapeutics during the second quarter valued at approximately $499,000. Finally, Iguana Healthcare Management LLC raised its stake in shares of Global Blood Therapeutics by 120.2% in the first quarter. Iguana Healthcare Management LLC now owns 242,274 shares of the company’s stock valued at $3,842,000 after buying an additional 132,274 shares during the last quarter. Institutional investors own 62.67% of the company’s stock.
About Global Blood Therapeutics
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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