Global Blood Therapeutics (NASDAQ:GBT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

According to Zacks, “Global Blood Therapeutics, Inc. is a biopharmaceutical company which is engaged in discovering, developing and commercializing novel therapeutics to treat grievous blood-based disorders. Its product candidate consists of GBT440 is an oral, once-daily prophylactic therapy for sickle cell disease which is in clinical trial. The company in addition to GBT is involved in research and development activities targeted hypoxemic pulmonary disorders, including idiopathic pulmonary fibrosis and hereditary angioedema. Global Blood Therapeutics, Inc. is based in South San Francisco, California. “

Several other analysts have also issued reports on GBT. BidaskClub lowered Global Blood Therapeutics from a “hold” rating to a “sell” rating in a report on Friday, August 11th. ValuEngine lowered Global Blood Therapeutics from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Wedbush reissued an “outperform” rating and set a $73.00 price target on shares of Global Blood Therapeutics in a report on Monday. 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, HC Wainwright assumed coverage on Global Blood Therapeutics in a report on Friday, December 1st. They set a “buy” rating and a $73.00 price target for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $56.38.

Shares of Global Blood Therapeutics (NASDAQ:GBT) traded up $0.30 on Wednesday, hitting $40.30. The company had a trading volume of 492,667 shares, compared to its average volume of 987,263. Global Blood Therapeutics has a one year low of $13.35 and a one year high of $43.95.

Global Blood Therapeutics (NASDAQ:GBT) last issued 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 company earned ($0.58) earnings per share. analysts forecast that Global Blood Therapeutics will post -2.53 EPS for the current fiscal year.

In other news, VP Peter Radovich sold 12,500 shares of the company’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $35.00, for a total value of $437,500.00. Following the completion of the transaction, the vice president now owns 2,684 shares of the company’s stock, valued at $93,940. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Charles J. Homcy sold 70,000 shares of the company’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 completion of the transaction, the director now directly owns 83,328 shares of the company’s stock, valued at approximately $2,830,652.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 88,500 shares of company stock valued at $3,003,350. Corporate 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. State Street Corp lifted its position in shares of Global Blood Therapeutics by 217.9% in the second quarter. State Street Corp now owns 2,138,323 shares of the company’s stock worth $58,479,000 after buying an additional 1,465,595 shares in the last quarter. Point72 Asset Management L.P. lifted its position in shares of Global Blood Therapeutics by 189.5% in the third quarter. Point72 Asset Management L.P. now owns 2,022,700 shares of the company’s stock worth $62,805,000 after buying an additional 1,323,934 shares in the last quarter. Janus Henderson Group PLC purchased a new stake in shares of Global Blood Therapeutics in the second quarter worth about $26,919,000. BlackRock Inc. lifted its position in shares of Global Blood Therapeutics by 30.0% in the second quarter. BlackRock Inc. now owns 3,404,538 shares of the company’s stock worth $93,114,000 after buying an additional 785,691 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Global Blood Therapeutics by 15.7% in the second quarter. Vanguard Group Inc. now owns 2,933,251 shares of the company’s stock worth $80,224,000 after buying an additional 397,271 shares in the last quarter. 90.48% of the stock is owned by hedge funds and other institutional investors.

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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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