Shares of Global Blood Therapeutics, Inc. (NASDAQ:GBT) have received a consensus recommendation of “Buy” from the fifteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and twelve have given a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $52.91.

Several brokerages have recently commented on GBT. 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. Janney Montgomery Scott began coverage on Global Blood Therapeutics in a report on Monday, May 1st. They issued a “buy” rating and a $37.00 target price on the stock. BidaskClub raised Global Blood Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, August 5th. Cowen and Company reissued an “outperform” rating and issued a $83.00 target price on shares of Global Blood Therapeutics in a report on Monday. Finally, SunTrust Banks, Inc. began coverage on Global Blood Therapeutics in a report on Monday, April 17th. They issued a “buy” rating and a $56.00 target price on the stock.

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

Several hedge funds have recently added to or reduced their stakes in the stock. FMR LLC boosted its stake in Global Blood Therapeutics by 2.9% in the first quarter. FMR LLC now owns 5,759,471 shares of the company’s stock worth $212,236,000 after buying an additional 162,004 shares in the last quarter. Perceptive Advisors LLC boosted 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 worth $142,203,000 after buying an additional 730,000 shares in the last quarter. BlackRock Inc. boosted its stake in Global Blood Therapeutics by 30.0% in the second quarter. BlackRock Inc. now owns 3,404,538 shares of the company’s stock worth $93,114,000 after buying an additional 785,691 shares in the last quarter. Vanguard Group Inc. boosted its stake in Global Blood Therapeutics by 15.7% in the second quarter. Vanguard Group Inc. now owns 2,933,251 shares of the company’s stock worth $80,224,000 after buying an additional 397,271 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in Global Blood Therapeutics by 10.8% in the first quarter. Wellington Management Group LLP now owns 2,321,123 shares of the company’s stock worth $85,534,000 after buying an additional 225,994 shares in the last quarter. Institutional investors and hedge funds own 72.65% of the company’s stock.

Shares of Global Blood Therapeutics (GBT) traded down 2.73% during mid-day trading on Tuesday, hitting $28.50. The company had a trading volume of 384,514 shares. Global Blood Therapeutics has a 12-month low of $13.35 and a 12-month high of $41.15. The firm’s market cap is $1.24 billion. The firm’s 50 day moving average is $28.13 and its 200-day moving average is $29.00.

Global Blood Therapeutics (NASDAQ:GBT) last released its quarterly earnings data on Monday, August 7th. The company reported ($0.55) earnings per share for the quarter, beating the consensus estimate of ($0.61) by $0.06. During the same period in the prior year, the business earned ($0.58) earnings per share. On average, equities analysts expect that Global Blood Therapeutics will post ($2.48) EPS for the current year.

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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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