Global Blood Therapeutics, Inc. (GBT) PT Set at $53.00 by Oppenheimer Holdings, Inc.
Global Blood Therapeutics, Inc. (NASDAQ:GBT) has been given a $53.00 price objective by Oppenheimer Holdings, Inc. in a research report issued on Monday. The brokerage currently has a “buy” rating on the stock. Oppenheimer Holdings, Inc.’s price objective indicates a potential upside of 64.85% from the stock’s current price.
A number of other research firms have also recently commented on GBT. Cowen and Company reaffirmed an “outperform” rating and set a $83.00 target price on shares of Global Blood Therapeutics in a research note on Monday, August 14th. Wedbush reaffirmed an “ourperform” rating and set a $73.00 target price on shares of Global Blood Therapeutics in a research note on Monday, September 18th. Morgan Stanley reaffirmed an “overweight” rating on shares of Global Blood Therapeutics in a research note on Tuesday, July 11th. BidaskClub raised Global Blood Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, August 17th. Finally, Zacks Investment Research cut Global Blood Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday, October 16th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Global Blood Therapeutics has an average rating of “Buy” and an average price target of $54.08.
Global Blood Therapeutics (NASDAQ GBT) traded down 1.23% during trading on Monday, reaching $32.15. The company had a trading volume of 1,824,015 shares. Global Blood Therapeutics has a one year low of $13.35 and a one year high of $41.15. The firm’s 50 day moving average is $29.99 and its 200 day moving average is $29.15. The company’s market capitalization is $1.40 billion.
Global Blood Therapeutics (NASDAQ:GBT) last released its earnings results on Monday, August 7th. The company reported ($0.55) EPS for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.06. During the same period in the prior year, the firm posted ($0.58) EPS. On average, equities research analysts predict that Global Blood Therapeutics will post ($2.44) earnings per share for the current year.
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In other Global Blood Therapeutics news, insider Jung Choi sold 3,000 shares of the company’s stock in a transaction on Friday, September 29th. The stock was 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 140,055 shares in the company, valued at $4,201,650. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Deval L. Patrick sold 27,053 shares of the company’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $29.69, for a total value of $803,203.57. Following the sale, the director now owns 12,053 shares of the company’s stock, valued at approximately $357,853.57. The disclosure for this sale can be found here. Insiders sold 36,053 shares of company stock valued at $1,081,154 in the last quarter. 5.30% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of the business. Parametric Portfolio Associates LLC lifted its holdings in Global Blood Therapeutics by 0.9% during the second quarter. Parametric Portfolio Associates LLC now owns 30,943 shares of the company’s stock worth $846,000 after buying an additional 284 shares during the period. Legal & General Group Plc lifted its holdings in Global Blood Therapeutics by 10.1% during the first quarter. Legal & General Group Plc now owns 4,816 shares of the company’s stock worth $178,000 after buying an additional 440 shares during the period. American International Group Inc. lifted its holdings in Global Blood Therapeutics by 24.1% during the first quarter. American International Group Inc. now owns 10,031 shares of the company’s stock worth $370,000 after buying an additional 1,945 shares during the period. Alps Advisors Inc. lifted its holdings in Global Blood Therapeutics by 7.9% during the second quarter. Alps Advisors Inc. now owns 39,366 shares of the company’s stock worth $1,077,000 after buying an additional 2,874 shares during the period. Finally, Great West Life Assurance Co. Can purchased a new stake in Global Blood Therapeutics during the first quarter worth $129,000. 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).
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