Global Blood Therapeutics (GBT) Research Coverage Started at Janney Montgomery Scott

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.

In other news, 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 sale, the insider now directly owns 135,255 shares in the company, valued at $4,943,570.25. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Peter Radovich sold 812 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $57.30, for a total value of $46,527.60. Following the completion of the sale, the insider now owns 6,221 shares in the company, valued at $356,463.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 51,812 shares of company stock worth $2,864,728. Corporate insiders own 5.30% of the company’s stock.

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).

The Fly

Analyst Recommendations for Global Blood Therapeutics (NASDAQ:GBT)

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