Analysts at Janney Montgomery Scott started coverage on shares of Global Blood Therapeutics (NASDAQ:GBT) in a report issued on Tuesday, The Fly reports. The firm set a “buy” rating on the stock.
Several other research firms have also weighed in on GBT. Zacks Investment Research lowered Global Blood Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, October 16th. Needham & Company LLC set a $51.00 target price on Global Blood Therapeutics and gave the stock a “buy” rating in a report on Wednesday, October 18th. Oppenheimer set a $53.00 target price on Global Blood Therapeutics and gave the stock a “buy” rating in a report on Monday, October 23rd. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Global Blood Therapeutics in a report on Monday, October 23rd. Finally, BidaskClub upgraded Global Blood Therapeutics from a “hold” rating to a “buy” rating in a report on Wednesday, November 1st. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Global Blood Therapeutics currently has an average rating of “Buy” and a consensus price target of $63.27.
Shares of Global Blood Therapeutics (GBT) traded up $0.40 during trading on Tuesday, hitting $60.35. The company had a trading volume of 414,635 shares, compared to its average volume of 1,176,078. Global Blood Therapeutics has a twelve month low of $20.25 and a twelve month high of $65.40. The firm has a market capitalization of $2,629.32, a PE ratio of -23.67 and a beta of 4.78.
Institutional investors have recently modified their holdings of the company. Focused Wealth Management Inc bought a new stake in shares of Global Blood Therapeutics in the fourth quarter valued at about $252,000. Jane Street Group LLC bought a new stake in shares of Global Blood Therapeutics in the third quarter valued at about $200,000. Trexquant Investment LP bought a new stake in Global Blood Therapeutics during the third quarter worth about $202,000. Dynamic Technology Lab Private Ltd bought a new stake in Global Blood Therapeutics during the third quarter worth about $205,000. Finally, Wedbush Securities Inc. bought a new stake in Global Blood Therapeutics during the fourth quarter worth about $288,000. Institutional investors own 85.95% 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).
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