Global Blood Therapeutics, Inc. (GBT) Given Average Recommendation of “Buy” by Analysts
Global Blood Therapeutics, Inc. (NASDAQ:GBT) has earned a consensus rating of “Buy” from the fifteen research firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $55.70.
A number of equities analysts have recently weighed in on the company. BidaskClub downgraded Global Blood Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, September 14th. Morgan Stanley reaffirmed an “overweight” rating on shares of Global Blood Therapeutics in a research report on Tuesday, July 11th. J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $46.00 price target (up from $44.00) on shares of Global Blood Therapeutics in a research report on Tuesday, August 8th. Needham & Company LLC started coverage on Global Blood Therapeutics in a report on Wednesday, September 20th. They set a “buy” rating and a $51.00 price target on the stock. Finally, Wedbush reiterated an “ourperform” rating and set a $73.00 price target on shares of Global Blood Therapeutics in a report on Monday, September 18th.
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In related news, insider Jung Choi sold 3,000 shares of Global Blood Therapeutics stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $30.00, for a total value 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Deval L. Patrick sold 27,053 shares of Global Blood Therapeutics stock in a transaction dated Tuesday, July 25th. The stock was 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 directly owns 12,053 shares of the company’s stock, valued at approximately $357,853.57. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,053 shares of company stock worth $1,073,204. 5.30% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Asset Management One Co. Ltd. purchased a new stake in Global Blood Therapeutics during the first quarter valued at about $130,000. Great West Life Assurance Co. Can bought a new position in Global Blood Therapeutics during the first quarter worth about $129,000. BNP Paribas Arbitrage SA increased its stake in shares of Global Blood Therapeutics by 694.9% in the second quarter. BNP Paribas Arbitrage SA now owns 4,547 shares of the company’s stock worth $124,000 after purchasing an additional 3,975 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Global Blood Therapeutics by 10.1% in the first quarter. Legal & General Group Plc now owns 4,816 shares of the company’s stock worth $178,000 after purchasing an additional 440 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in shares of Global Blood Therapeutics in the first quarter worth about $230,000. 86.07% of the stock is currently owned by institutional investors and hedge funds.
Global Blood Therapeutics (GBT) traded up 8.92% on Wednesday, hitting $32.35. The company had a trading volume of 2,250,749 shares. The stock has a 50 day moving average of $28.26 and a 200-day moving average of $29.61. Global Blood Therapeutics has a one year low of $13.35 and a one year high of $41.15. The stock’s market capitalization is $1.41 billion.
Global Blood Therapeutics (NASDAQ:GBT) last posted its quarterly earnings data on Monday, August 7th. The company reported ($0.55) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.61) by $0.06. During the same quarter in the previous year, the business posted ($0.58) earnings per share. Equities analysts anticipate that Global Blood Therapeutics will post ($2.44) EPS for the current year.
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).
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