Global Blood Therapeutics (GBT) Research Coverage Started at HC Wainwright
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.
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.
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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).
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