Global Blood Therapeutics (NASDAQ:GBT) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Friday.

A number of other research firms also recently issued reports on GBT. SunTrust Banks lifted their price objective on shares of Global Blood Therapeutics to $67.00 and gave the stock a “buy” rating in a report on Monday, November 6th. BidaskClub raised shares of Global Blood Therapeutics from a “hold” rating to a “buy” rating in a report on Wednesday, November 1st. HC Wainwright assumed coverage on shares of Global Blood Therapeutics in a report on Friday. They issued a “buy” rating and a $73.00 price target on the stock. Zacks Investment Research downgraded shares of Global Blood Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday, November 7th. Finally, Cowen reissued a “buy” rating and issued a $83.00 price target on shares of Global Blood Therapeutics in a report on Thursday, November 9th. Two equities research analysts have rated the stock with a sell rating and thirteen have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $56.38.

Global Blood Therapeutics (GBT) traded up $2.25 on Friday, reaching $41.70. 1,418,577 shares of the company’s stock were exchanged, compared to its average volume of 723,061. Global Blood Therapeutics has a 1 year low of $13.35 and a 1 year high of $43.95.

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

In related news, Director Charles J. Homcy sold 70,000 shares of the business’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $33.97, for a total value of $2,377,900.00. Following the sale, the director now directly owns 83,328 shares in the company, valued at approximately $2,830,652.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jung Choi sold 3,000 shares of the business’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $30.00, for a total value 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 disclosure for this sale can be found here. Insiders sold a total of 88,500 shares of company stock worth $3,003,350 over the last three months. 5.30% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA raised its stake in 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 acquiring an additional 3,975 shares during the period. Legal & General Group Plc raised its stake in 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 acquiring an additional 440 shares during the period. Jane Street Group LLC bought a new stake in Global Blood Therapeutics in the 3rd quarter valued at about $200,000. Trexquant Investment LP bought a new stake in Global Blood Therapeutics in the 3rd quarter valued at about $202,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Global Blood Therapeutics in the 3rd quarter valued at about $205,000. Institutional investors and hedge funds own 90.47% of the company’s stock.

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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).

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Global Blood Therapeutics (NASDAQ:GBT)

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