Global Blood Therapeutics, Inc. (NASDAQ:GBT)‘s stock had its “overweight” rating reiterated by analysts at Morgan Stanley in a research note issued to investors on Tuesday.

Other equities research analysts have also recently issued reports about the company. Janney Montgomery Scott initiated coverage on Global Blood Therapeutics in a research note on Monday, May 1st. They issued a “buy” rating and a $37.00 target price for the company. SunTrust Banks, Inc. initiated coverage on Global Blood Therapeutics in a research note on Monday, April 17th. They issued a “buy” rating and a $56.00 target price for the company. Roth Capital set a $47.00 target price on Global Blood Therapeutics and gave the company a “buy” rating in a research note on Monday, March 20th. J P Morgan Chase & Co reissued a “buy” rating and issued a $44.00 target price on shares of Global Blood Therapeutics in a research note on Wednesday, March 15th. Finally, ValuEngine raised Global Blood Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and eleven have assigned a buy rating to the company. Global Blood Therapeutics has an average rating of “Buy” and a consensus target price of $50.37.

Shares of Global Blood Therapeutics (GBT) opened at 28.10 on Tuesday. The stock has a 50 day moving average price of $29.04 and a 200 day moving average price of $26.27. Global Blood Therapeutics has a one year low of $13.35 and a one year high of $41.15. The firm’s market cap is $1.23 billion.

Global Blood Therapeutics (NASDAQ:GBT) last released its earnings results on Monday, May 1st. The company reported ($0.60) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.71) by $0.11. During the same period last year, the firm earned ($0.56) earnings per share. On average, equities research analysts forecast that Global Blood Therapeutics will post ($2.54) EPS for the current year.

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Several hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. raised its position in Global Blood Therapeutics by 27.5% in the first quarter. JPMorgan Chase & Co. now owns 224,207 shares of the company’s stock valued at $8,262,000 after buying an additional 48,382 shares in the last quarter. Redmile Group LLC raised its position in Global Blood Therapeutics by 195.3% in the first quarter. Redmile Group LLC now owns 934,343 shares of the company’s stock valued at $34,431,000 after buying an additional 617,943 shares in the last quarter. Bank of Montreal Can bought a new position in Global Blood Therapeutics during the first quarter valued at about $597,000. MARSHALL WACE ASIA Ltd bought a new position in Global Blood Therapeutics during the first quarter valued at about $694,000. Finally, State Street Corp raised its position in Global Blood Therapeutics by 1.4% in the fourth quarter. State Street Corp now owns 289,984 shares of the company’s stock valued at $4,174,000 after buying an additional 4,024 shares in the last quarter. Institutional investors and hedge funds own 71.65% 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 is developing its initial product candidate, GBT440, as an oral, once-daily therapy for sickle cell disease (SCD).

Analyst Recommendations for Global Blood Therapeutics (NASDAQ:GBT)

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