Global Blood Therapeutics, Inc. (NASDAQ:GBT) has been given a $53.00 target price by analysts at Oppenheimer Holdings, Inc. in a research report issued to clients and investors on Wednesday. The brokerage currently has a “buy” rating on the stock. Oppenheimer Holdings, Inc.’s price target points to a potential upside of 59.64% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. Needham & Company LLC started coverage on shares of Global Blood Therapeutics in a report on Wednesday, September 20th. They set a “buy” rating and a $51.00 price target for the company. Zacks Investment Research upgraded shares of Global Blood Therapeutics from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a report on Tuesday. BidaskClub upgraded shares of Global Blood Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, September 27th. 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. Finally, Cowen and Company reiterated an “outperform” rating and set a $83.00 price target on shares of Global Blood Therapeutics in a report on Monday, August 14th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $54.08.

Global Blood Therapeutics (NASDAQ:GBT) traded up 0.76% during trading on Wednesday, reaching $33.20. 1,149,656 shares of the company’s stock traded hands. The firm’s market capitalization is $1.45 billion. Global Blood Therapeutics has a 1-year low of $13.35 and a 1-year high of $41.15. The firm has a 50 day moving average of $28.91 and a 200 day moving average of $29.41.

Global Blood Therapeutics (NASDAQ:GBT) last issued its quarterly 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 in the previous year, the company earned ($0.58) EPS. Equities analysts forecast that Global Blood Therapeutics will post ($2.44) EPS for the current year.

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In other Global Blood Therapeutics news, insider Jung Choi sold 3,000 shares of Global Blood Therapeutics stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $30.00, for a total transaction of $90,000.00. Following the transaction, the insider now directly owns 140,055 shares of the company’s stock, valued at $4,201,650. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Deval L. Patrick sold 27,053 shares of Global Blood Therapeutics stock in a transaction that occurred 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 transaction, the director now directly owns 12,053 shares in the company, valued at $357,853.57. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,053 shares of company stock valued at $1,073,204. 5.30% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in GBT. BlackRock Inc. lifted its position 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 buying an additional 2,564,008 shares in the last quarter. State Street Corp lifted its position 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 buying an additional 1,465,595 shares in the last quarter. Janus Henderson Group PLC acquired a new position in Global Blood Therapeutics during the second quarter valued at approximately $26,919,000. Perceptive Advisors LLC lifted its position 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 buying an additional 730,000 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in Global Blood Therapeutics by 40.1% during 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. 86.07% of the stock is currently 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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