Global Blood Therapeutics, Inc. (NASDAQ:GBT) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

A number of other research analysts have also recently commented on the stock. Cowen and Company reissued an “outperform” rating and set a $83.00 target price on shares of Global Blood Therapeutics in a research report on Monday, August 14th. J P Morgan Chase & Co reissued an “overweight” rating and set a $46.00 target price (up from $44.00) on shares of Global Blood Therapeutics in a research report on Tuesday, August 8th. Oppenheimer Holdings, Inc. began coverage on shares of Global Blood Therapeutics in a research report on Friday, August 4th. They set an “outperform” rating and a $53.00 target price on the stock. Morgan Stanley reaffirmed an “overweight” rating on shares of Global Blood Therapeutics in a report on Tuesday, July 11th. Finally, ValuEngine raised shares of Global Blood Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $49.73.

Global Blood Therapeutics (GBT) traded up 6.06% on Thursday, hitting $28.00. 1,684,553 shares of the company were exchanged. Global Blood Therapeutics has a 52-week low of $13.35 and a 52-week high of $41.15. The stock’s market cap is $1.22 billion. The firm has a 50 day moving average of $27.76 and a 200-day moving average of $30.02.

Global Blood Therapeutics (NASDAQ:GBT) last posted its earnings results on Monday, August 7th. The company reported ($0.55) EPS for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.06. During the same quarter last year, the firm earned ($0.58) EPS. On average, equities analysts expect that Global Blood Therapeutics will post ($2.45) earnings per share for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “Global Blood Therapeutics, Inc. (GBT) Cut to “Sell” at BidaskClub” was reported by American Banking News and is the property of of American Banking News. If you are reading this story on another website, it was illegally copied and reposted in violation of international trademark and copyright laws. The correct version of this story can be viewed at https://www.americanbankingnews.com/2017/09/16/global-blood-therapeutics-inc-gbt-cut-to-sell-at-bidaskclub.html.

In other Global Blood Therapeutics news, Director Deval L. Patrick sold 27,053 shares of the business’s stock in a transaction on Tuesday, July 25th. The shares were 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 owns 12,053 shares in the company, valued at $357,853.57. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jung Choi sold 3,000 shares of the business’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 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. Insiders sold 33,053 shares of company stock worth $983,204 over the last ninety days. 5.30% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in GBT. BlackRock Inc. increased its stake in Global Blood Therapeutics by 4,675.5% during the first quarter. BlackRock Inc. now owns 2,618,847 shares of the company’s stock valued at $96,503,000 after purchasing an additional 2,564,008 shares during the last quarter. State Street Corp increased its stake in Global Blood Therapeutics by 217.9% during the second quarter. State Street Corp now owns 2,138,323 shares of the company’s stock valued at $58,479,000 after purchasing an additional 1,465,595 shares during the last quarter. White Square Capital LLP bought a new stake in Global Blood Therapeutics during the first quarter valued at $53,593,000. Janus Henderson Group PLC bought a new stake in Global Blood Therapeutics during the second quarter valued at $26,919,000. Finally, Perceptive Advisors LLC increased its stake in Global Blood Therapeutics by 23.3% during the first quarter. Perceptive Advisors LLC now owns 3,858,978 shares of the company’s stock valued at $142,203,000 after purchasing an additional 730,000 shares during the last quarter. Hedge funds and other institutional investors own 86.07% 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).

Analyst Recommendations for Global Blood Therapeutics (NASDAQ:GBT)

Receive News & Ratings for Global Blood Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Blood Therapeutics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.