Global Blood Therapeutics (NASDAQ:GBT) was upgraded by BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued on Tuesday.

A number of other equities analysts have also commented on the company. Cowen reaffirmed a “buy” rating and issued a $83.00 price target on shares of Global Blood Therapeutics in a report on Thursday, November 9th. Wedbush reaffirmed an “ourperform” rating and issued a $73.00 price target on shares of Global Blood Therapeutics in a report on Monday, September 18th. Zacks Investment Research lowered Global Blood Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday, November 7th. Oppenheimer set a $53.00 price target on Global Blood Therapeutics and gave the stock a “buy” rating in a report on Monday, November 13th. Finally, SunTrust Banks raised their price target on Global Blood Therapeutics to $67.00 and gave the stock a “buy” rating in a report on Monday, November 6th. One analyst has rated the stock with a sell rating, one has given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $60.71.

Global Blood Therapeutics (NASDAQ GBT) traded down $6.38 during trading on Tuesday, hitting $38.40. The stock had a trading volume of 2,834,680 shares, compared to its average volume of 1,011,651. Global Blood Therapeutics has a 52-week low of $13.35 and a 52-week high of $45.85.

Global Blood Therapeutics (NASDAQ:GBT) last posted its quarterly earnings results on Thursday, November 2nd. The company reported ($0.66) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.62) by ($0.04). During the same period in the previous year, the company earned ($0.58) earnings per share. research analysts anticipate that Global Blood Therapeutics will post -2.55 EPS for the current fiscal year.

In other Global Blood Therapeutics news, Director Charles J. Homcy sold 70,000 shares of Global Blood Therapeutics stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $33.97, for a total transaction of $2,377,900.00. Following the completion of the sale, the director now owns 83,328 shares of the company’s stock, valued at $2,830,652.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jung Choi sold 3,000 shares of Global Blood Therapeutics 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 sale, the insider now directly owns 140,055 shares of the company’s stock, valued at approximately $4,201,650. The disclosure for this sale can be found here. Insiders have sold 88,500 shares of company stock valued at $3,003,350 in the last three months. 5.30% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of GBT. Schwab Charles Investment Management Inc. lifted its stake in Global Blood Therapeutics by 66.8% during the first quarter. Schwab Charles Investment Management Inc. now owns 110,805 shares of the company’s stock worth $4,084,000 after purchasing an additional 44,383 shares during the last quarter. Bank of America Corp DE lifted its stake in Global Blood Therapeutics by 103.6% during the first quarter. Bank of America Corp DE now owns 7,141 shares of the company’s stock worth $263,000 after purchasing an additional 3,633 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Global Blood Therapeutics by 53.0% during the second quarter. Russell Investments Group Ltd. now owns 44,014 shares of the company’s stock worth $1,203,000 after purchasing an additional 15,253 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in Global Blood Therapeutics during the second quarter worth about $211,000. Finally, Rhumbline Advisers lifted its stake in Global Blood Therapeutics by 118.5% during the second quarter. Rhumbline Advisers now owns 41,801 shares of the company’s stock worth $1,143,000 after purchasing an additional 22,670 shares during 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).

Analyst Recommendations for Global Blood Therapeutics (NASDAQ:GBT)

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