Global Blood Therapeutics Inc (GBT) Given Average Recommendation of “Buy” by Brokerages

Global Blood Therapeutics Inc (NASDAQ:GBT) has been assigned an average rating of “Buy” from the seventeen research firms that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $66.69.

A number of research analysts have commented on GBT shares. Wedbush restated an “outperform” rating and issued a $73.00 target price on shares of Global Blood Therapeutics in a research note on Monday, December 4th. BidaskClub upgraded Global Blood Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, December 12th. HC Wainwright set a $73.00 target price on Global Blood Therapeutics and gave the company a “buy” rating in a research note on Monday, December 11th. Oppenheimer set a $53.00 target price on Global Blood Therapeutics and gave the company a “buy” rating in a research note on Monday, November 13th. Finally, Nomura boosted their target price on Global Blood Therapeutics to $91.00 and gave the company a “buy” rating in a research note on Monday, December 11th.

In related news, major shareholder Perceptive Advisors Llc purchased 175,000 shares of Global Blood Therapeutics stock in a transaction on Tuesday, December 19th. The stock was bought at an average price of $38.00 per share, with a total value of $6,650,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jung Choi sold 3,000 shares of the business’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $36.55, for a total value of $109,650.00. Following the completion of the sale, the insider now directly owns 135,255 shares of the company’s stock, valued at approximately $4,943,570.25. The disclosure for this sale can be found here. Insiders sold 51,812 shares of company stock valued at $2,864,728 in the last ninety days. Insiders own 5.30% of the company’s stock.

Several large investors have recently made changes to their positions in GBT. Jane Street Group LLC acquired a new stake in shares of Global Blood Therapeutics in the third quarter worth about $200,000. Trexquant Investment LP acquired a new position in shares of Global Blood Therapeutics during the 3rd quarter worth about $202,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Global Blood Therapeutics during the 3rd quarter worth about $205,000. Virtu KCG Holdings LLC acquired a new position in shares of Global Blood Therapeutics during the 2nd quarter worth about $219,000. Finally, Cubist Systematic Strategies LLC lifted its position in shares of Global Blood Therapeutics by 94.7% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 8,205 shares of the company’s stock worth $224,000 after purchasing an additional 3,991 shares during the last quarter. 85.67% of the stock is owned by institutional investors.

Shares of Global Blood Therapeutics (NASDAQ:GBT) traded up $0.23 during mid-day trading on Tuesday, hitting $57.95. The stock had a trading volume of 895,801 shares, compared to its average volume of 1,243,244. Global Blood Therapeutics has a twelve month low of $16.15 and a twelve month high of $64.50. The stock has a market capitalization of $2,670.00 and a P/E ratio of -22.73.

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

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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).

Analyst Recommendations for Global Blood Therapeutics (NASDAQ:GBT)

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