Global Blood Therapeutics Inc (NASDAQ:GBT) has earned an average recommendation of “Buy” from the twelve analysts that are presently covering the firm. One analyst has rated the stock with a sell rating and eleven have issued a buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $50.34.

Several analysts have weighed in on the stock. Roth Capital set a $47.00 price target on shares of Global Blood Therapeutics and gave the stock a “buy” rating in a research note on Saturday, February 18th. SunTrust Banks, Inc. began coverage on shares of Global Blood Therapeutics in a research report on Monday, April 17th. They issued a “buy” rating and a $56.00 price objective on the stock. Zacks Investment Research cut shares of Global Blood Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, January 17th. Janney Montgomery Scott began coverage on shares of Global Blood Therapeutics in a research report on Monday. They issued a “buy” rating and a $37.00 price objective on the stock. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of Global Blood Therapeutics in a research report on Tuesday, January 10th.

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Global Blood Therapeutics (NASDAQ:GBT) traded down 2.69% during mid-day trading on Friday, reaching $28.95. The company had a trading volume of 40,301 shares. Global Blood Therapeutics has a 12-month low of $13.35 and a 12-month high of $41.15. The firm’s market capitalization is $1.26 billion. The firm has a 50-day moving average price of $33.36 and a 200 day moving average price of $23.11.

Global Blood Therapeutics (NASDAQ:GBT) last posted its quarterly earnings results on Monday, May 1st. The company reported ($0.60) earnings per share for the quarter, topping the consensus estimate of ($0.71) by $0.11. During the same quarter in the prior year, the company earned ($0.56) earnings per share. Analysts expect that Global Blood Therapeutics will post ($2.69) EPS for the current year.

In other Global Blood Therapeutics news, major shareholder Robert I. Tepper sold 31,225 shares of the company’s stock in a transaction dated Thursday, April 6th. The shares were sold at an average price of $33.23, for a total value of $1,037,606.75. Following the sale, the insider now owns 229,773 shares in the company, valued at $7,635,356.79. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 6.10% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of GBT. UBS Asset Management Americas Inc. purchased a new position in shares of Global Blood Therapeutics during the first quarter valued at about $597,000. Swiss National Bank increased its position in shares of Global Blood Therapeutics by 55.5% in the first quarter. Swiss National Bank now owns 52,400 shares of the company’s stock valued at $1,931,000 after buying an additional 18,700 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Global Blood Therapeutics by 79.2% in the first quarter. Bank of New York Mellon Corp now owns 139,389 shares of the company’s stock valued at $5,137,000 after buying an additional 61,593 shares in the last quarter. ING Groep NV purchased a new position in shares of Global Blood Therapeutics during the first quarter valued at about $1,618,000. Finally, Great West Life Assurance Co. Can purchased a new position in shares of Global Blood Therapeutics during the first quarter valued at about $129,000. Hedge funds and other institutional investors own 56.36% of the company’s stock.

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 is developing its initial product candidate, GBT440, as an oral, once-daily therapy for sickle cell disease (SCD).

5 Day Chart for NASDAQ:GBT

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