Global Blood Therapeutics, Inc. (NASDAQ:GBT) received a $51.00 target price from equities researchers at Needham & Company LLC in a report issued on Tuesday. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price objective indicates a potential upside of 53.61% from the stock’s previous close.

GBT has been the subject of a number of other research reports. Morgan Stanley reissued an “overweight” rating and set a $56.00 price target (up previously from $51.00) on shares of Global Blood Therapeutics in a report on Friday, October 6th. BidaskClub cut Global Blood Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, September 14th. Zacks Investment Research cut Global Blood Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, October 16th. Oppenheimer Holdings, Inc. set a $53.00 price target on Global Blood Therapeutics and gave the stock a “buy” rating in a report on Wednesday, October 11th. Finally, J P Morgan Chase & Co reissued an “overweight” rating and set a $46.00 price target (up previously from $44.00) on shares of Global Blood Therapeutics in a report on Tuesday, August 8th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $54.08.

Shares of Global Blood Therapeutics (NASDAQ:GBT) traded up 3.27% during mid-day trading on Tuesday, hitting $33.20. The stock had a trading volume of 1,283,133 shares. The firm’s market cap is $1.45 billion. Global Blood Therapeutics has a 52 week low of $13.35 and a 52 week high of $41.15. The stock has a 50 day moving average price of $29.99 and a 200 day moving average price of $29.15.

Global Blood Therapeutics (NASDAQ:GBT) last posted 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 period last year, the firm posted ($0.58) EPS. Equities research analysts expect that Global Blood Therapeutics will post ($2.44) EPS for the current fiscal 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 dated Friday, September 29th. The stock was sold at an average price of $30.00, for a total value of $90,000.00. Following the completion of the transaction, the insider now owns 140,055 shares of the company’s stock, valued at approximately $4,201,650. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last ninety days, insiders sold 9,000 shares of company stock valued at $277,950. Insiders own 5.30% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GBT. BNP Paribas Arbitrage SA grew its position in shares of Global Blood Therapeutics by 694.9% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,547 shares of the company’s stock valued at $124,000 after buying an additional 3,975 shares during the last quarter. Great West Life Assurance Co. Can bought a new stake in shares of Global Blood Therapeutics in the 1st quarter valued at about $129,000. Legal & General Group Plc grew its position in shares of Global Blood Therapeutics by 10.1% in the 1st quarter. Legal & General Group Plc now owns 4,816 shares of the company’s stock valued at $178,000 after buying an additional 440 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of Global Blood Therapeutics in the 2nd quarter valued at about $211,000. Finally, Virtu KCG Holdings LLC bought a new stake in shares of Global Blood Therapeutics in the 2nd quarter valued at about $219,000. Hedge funds and other institutional investors own 86.18% 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)

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