Global Blood Therapeutics, Inc. (NASDAQ:GBT)‘s stock had its “buy” rating reaffirmed by equities researchers at J P Morgan Chase & Co in a report issued on Monday.

GBT has been the topic of several other research reports. Morgan Stanley reiterated an “overweight” rating and issued a $56.00 price target (up previously from $51.00) on shares of Global Blood Therapeutics in a report on Friday, October 6th. BidaskClub lowered Global Blood Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, September 14th. Needham & Company LLC set a $51.00 target price on Global Blood Therapeutics and gave the company a “buy” rating in a report on Wednesday, October 18th. Zacks Investment Research lowered Global Blood Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, October 16th. Finally, Oppenheimer Holdings, Inc. set a $53.00 target price on Global Blood Therapeutics and gave the company a “buy” rating in a report on Wednesday, October 11th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $54.08.

Global Blood Therapeutics (GBT) traded up 2.95% during trading on Monday, hitting $33.10. The stock had a trading volume of 807,047 shares. Global Blood Therapeutics has a one year low of $13.35 and a one year high of $41.15. The stock has a 50 day moving average of $29.99 and a 200 day moving average of $29.15. The firm’s market capitalization is $1.45 billion.

Global Blood Therapeutics (NASDAQ:GBT) last released its earnings results on Monday, August 7th. The company reported ($0.55) EPS for the quarter, topping the consensus estimate of ($0.61) by $0.06. During the same period last year, the firm posted ($0.58) EPS. Equities research analysts expect that Global Blood Therapeutics will post ($2.44) earnings per share for the current fiscal year.

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In related news, insider Jung Choi sold 3,000 shares of the stock in a transaction that occurred 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 directly owns 140,055 shares of the company’s stock, valued at $4,201,650. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 9,000 shares of company stock valued at $277,950 over the last ninety days. 5.30% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Hershey Trust Co. increased its position in shares of Global Blood Therapeutics by 29.6% during the third quarter. Hershey Trust Co. now owns 54,010 shares of the company’s stock valued at $1,677,000 after acquiring an additional 12,335 shares during the last quarter. Quantitative Systematic Strategies LLC purchased a new stake in shares of Global Blood Therapeutics during the third quarter valued at approximately $237,000. California State Teachers Retirement System increased its position in shares of Global Blood Therapeutics by 65.6% during the second quarter. California State Teachers Retirement System now owns 65,390 shares of the company’s stock valued at $1,788,000 after acquiring an additional 25,900 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Global Blood Therapeutics by 100.3% during the second quarter. The Manufacturers Life Insurance Company now owns 28,978 shares of the company’s stock valued at $792,000 after acquiring an additional 14,509 shares during the last quarter. Finally, Cubist Systematic Strategies LLC increased its position in shares of Global Blood Therapeutics by 94.7% during the second quarter. Cubist Systematic Strategies LLC now owns 8,205 shares of the company’s stock valued at $224,000 after acquiring an additional 3,991 shares during the last quarter. 86.18% of the stock is owned by 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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