Equities research analysts at Oppenheimer Holdings, Inc. assumed coverage on shares of Global Blood Therapeutics, Inc. (NASDAQ:GBT) in a report issued on Friday. The brokerage set an “outperform” rating and a $53.00 price target on the stock. Oppenheimer Holdings, Inc.’s price objective suggests a potential upside of 79.97% from the stock’s previous close.

Several other analysts also recently weighed in on the company. SunTrust Banks, Inc. initiated coverage on Global Blood Therapeutics in a report on Monday, April 17th. They issued a “buy” rating and a $56.00 target price for the company. Wedbush reissued an “outperform” rating and issued a $73.00 target price on shares of Global Blood Therapeutics in a report on Tuesday, May 2nd. Morgan Stanley reissued an “overweight” rating on shares of Global Blood Therapeutics in a report on Tuesday, July 11th. BidaskClub downgraded Global Blood Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday, June 20th. Finally, Janney Montgomery Scott initiated coverage on Global Blood Therapeutics in a report on Monday, May 1st. They issued a “buy” rating and a $37.00 target price for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $50.59.

Shares of Global Blood Therapeutics (NASDAQ:GBT) traded up 8.27% on Friday, hitting $29.45. The stock had a trading volume of 1,258,784 shares. The company’s market cap is $1.28 billion. Global Blood Therapeutics has a 12-month low of $13.35 and a 12-month high of $41.15. The stock has a 50 day moving average price of $28.28 and a 200-day moving average price of $28.34.

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In other Global Blood Therapeutics news, Director Deval L. Patrick sold 27,053 shares of the company’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $29.69, for a total transaction of $803,203.57. Following the completion of the sale, the director now directly owns 12,053 shares of the company’s stock, valued at approximately $357,853.57. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jung Choi sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $30.00, for a total value of $90,000.00. Following the sale, the insider now directly owns 143,255 shares of the company’s stock, valued at $4,297,650. The disclosure for this sale can be found here. 5.30% of the stock is owned by corporate insiders.

Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. increased its stake in Global Blood Therapeutics by 4,675.5% in the first quarter. BlackRock Inc. now owns 2,618,847 shares of the company’s stock valued at $96,503,000 after buying an additional 2,564,008 shares in the last quarter. White Square Capital LLP bought a new stake in Global Blood Therapeutics during the first quarter valued at approximately $53,593,000. Perceptive Advisors LLC increased its stake in Global Blood Therapeutics by 23.3% in the first quarter. Perceptive Advisors LLC now owns 3,858,978 shares of the company’s stock valued at $142,203,000 after buying an additional 730,000 shares in the last quarter. Vanguard Group Inc. increased its stake in Global Blood Therapeutics by 40.1% in the first quarter. Vanguard Group Inc. now owns 2,535,980 shares of the company’s stock valued at $93,451,000 after buying an additional 726,366 shares in the last quarter. Finally, Redmile Group LLC increased its stake 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. 71.86% of the stock is owned by hedge funds and other institutional investors.

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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