Research analysts at HC Wainwright started coverage on shares of Global Blood Therapeutics (NASDAQ:GBT) in a report released on Friday. The brokerage set a “buy” rating and a $73.00 price target on the stock. HC Wainwright’s price target points to a potential upside of 85.04% from the stock’s current price.

Several other brokerages have also recently issued reports on GBT. Oppenheimer assumed coverage on Global Blood Therapeutics in a report on Friday, August 4th. They issued an “outperform” rating and a $53.00 price objective for the company. BidaskClub raised Global Blood Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, August 5th. 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. Cowen reissued an “outperform” rating and set a $83.00 price target on shares of Global Blood Therapeutics in a report on Monday, August 14th. Finally, Wedbush reissued an “ourperform” rating and set a $73.00 price target on shares of Global Blood Therapeutics in a report on Monday, September 18th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have assigned a buy rating to the stock. Global Blood Therapeutics has an average rating of “Buy” and an average price target of $56.38.

Global Blood Therapeutics (NASDAQ GBT) opened at $39.45 on Friday. Global Blood Therapeutics has a fifty-two week low of $13.35 and a fifty-two week high of $43.95.

Global Blood Therapeutics (NASDAQ:GBT) last posted its quarterly earnings data on Thursday, November 2nd. The company reported ($0.66) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.62) by ($0.04). During the same period in the prior year, the firm posted ($0.58) earnings per share. research analysts anticipate that Global Blood Therapeutics will post -2.53 EPS for the current fiscal year.

In related news, insider Jung Choi sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 17th. The shares were sold at an average price of $32.65, for a total transaction of $97,950.00. Following the completion of the transaction, the insider now owns 138,455 shares in the company, valued at $4,520,555.75. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Charles J. Homcy sold 70,000 shares of the company’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $33.97, for a total transaction of $2,377,900.00. Following the completion of the transaction, the director now owns 83,328 shares in the company, valued at $2,830,652.16. The disclosure for this sale can be found here. Insiders sold 88,500 shares of company stock valued at $3,003,350 in the last quarter. Corporate insiders own 5.30% of the company’s stock.

Several institutional investors have recently made changes to their positions in the business. Morgan Stanley raised its stake in Global Blood Therapeutics by 140.0% in the first quarter. Morgan Stanley now owns 334,872 shares of the company’s stock valued at $12,340,000 after buying an additional 195,323 shares in the last quarter. Sphera Funds Management LTD. acquired a new stake in shares of Global Blood Therapeutics in the 2nd quarter valued at about $4,103,000. Emory University acquired a new stake in Global Blood Therapeutics during the second quarter worth about $1,442,000. BlackRock Inc. raised its stake in Global Blood Therapeutics by 1.6% during the third quarter. BlackRock Inc. now owns 49,739 shares of the company’s stock worth $1,147,000 after acquiring an additional 775 shares during the period. Finally, Casdin Capital LLC bought a new position in Global Blood Therapeutics in the 4th quarter worth about $2,101,000. 90.47% of the stock is owned by institutional investors and hedge funds.

TRADEMARK VIOLATION NOTICE: “Global Blood Therapeutics (GBT) Research Coverage Started at HC Wainwright” was originally published by American Banking News and is owned by of American Banking News. If you are reading this article on another website, it was stolen and republished in violation of US & international trademark & copyright legislation. The legal version of this article can be viewed at https://www.americanbankingnews.com/2017/12/01/global-blood-therapeutics-gbt-research-coverage-started-at-hc-wainwright.html.

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)

Receive News & Ratings for Global Blood Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Blood Therapeutics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.