Global Blood Therapeutics (NASDAQ:GBT) had its price objective increased by equities research analysts at Needham & Company LLC from $51.00 to $70.00 in a report issued on Thursday. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s price objective points to a potential upside of 82.53% from the stock’s previous close.
GBT has been the subject of a number of other reports. Oppenheimer set a $53.00 price objective on shares of Global Blood Therapeutics and gave the company a “buy” rating in a research note on Monday, October 30th. Cantor Fitzgerald set a $61.00 price objective on shares of Global Blood Therapeutics and gave the company a “buy” rating in a research note on Monday. J P Morgan Chase & Co reiterated a “buy” rating on shares of Global Blood Therapeutics in a report on Monday, October 23rd. BidaskClub downgraded Global Blood Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, September 14th. Finally, Zacks Investment Research upgraded Global Blood Therapeutics from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a report on Tuesday, October 10th. One equities research 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 company’s stock. The company presently has an average rating of “Buy” and an average price target of $62.07.
Shares of Global Blood Therapeutics (NASDAQ:GBT) opened at $38.35 on Thursday. Global Blood Therapeutics has a 52 week low of $13.35 and a 52 week high of $45.85.
In related news, VP Peter Radovich sold 12,500 shares of the stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $35.00, for a total value of $437,500.00. Following the transaction, the vice president now owns 2,684 shares in the company, valued at $93,940. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Charles J. Homcy sold 70,000 shares of the stock in a transaction that occurred on 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 owns 83,328 shares in the company, valued at approximately $2,830,652.16. The disclosure for this sale can be found here. Insiders sold 88,500 shares of company stock worth $3,003,350 in the last 90 days. 5.30% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the stock. State Street Corp grew its holdings in Global Blood Therapeutics by 217.9% during the second quarter. State Street Corp now owns 2,138,323 shares of the company’s stock valued at $58,479,000 after purchasing an additional 1,465,595 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in Global Blood Therapeutics by 189.5% during the third quarter. Point72 Asset Management L.P. now owns 2,022,700 shares of the company’s stock valued at $62,805,000 after purchasing an additional 1,323,934 shares during the last quarter. Janus Henderson Group PLC acquired a new position in Global Blood Therapeutics during the second quarter valued at approximately $26,919,000. BlackRock Inc. grew its holdings in Global Blood Therapeutics by 30.0% during the second quarter. BlackRock Inc. now owns 3,404,538 shares of the company’s stock valued at $93,114,000 after purchasing an additional 785,691 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in Global Blood Therapeutics by 15.7% during the second quarter. Vanguard Group Inc. now owns 2,933,251 shares of the company’s stock valued at $80,224,000 after purchasing an additional 397,271 shares during the last quarter. Hedge funds and other institutional investors own 90.48% of the company’s stock.
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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).
