Global Blood Therapeutics (GBT) Upgraded at ValuEngine

ValuEngine upgraded shares of Global Blood Therapeutics (NASDAQ:GBT) from a hold rating to a buy rating in a research note released on Monday.

A number of other brokerages have also commented on GBT. BidaskClub upgraded shares of Global Blood Therapeutics from a buy rating to a strong-buy rating in a report on Saturday, February 17th. Morgan Stanley boosted their price objective on shares of Global Blood Therapeutics from $58.00 to $61.00 and gave the stock an overweight rating in a report on Tuesday, March 6th. Zacks Investment Research lowered shares of Global Blood Therapeutics from a hold rating to a sell rating in a report on Tuesday, March 6th. Cantor Fitzgerald set a $72.00 price objective on shares of Global Blood Therapeutics and gave the stock an overweight rating in a report on Tuesday, February 27th. Finally, HC Wainwright set a $73.00 price objective on shares of Global Blood Therapeutics and gave the stock a buy rating in a report on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $70.69.

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Global Blood Therapeutics stock traded down $1.35 during trading on Monday, reaching $42.65. 237,010 shares of the company’s stock were exchanged, compared to its average volume of 1,081,887. Global Blood Therapeutics has a 52-week low of $24.02 and a 52-week high of $68.05. The stock has a market cap of $2,290.54, a price-to-earnings ratio of -15.53 and a beta of 4.37.

Global Blood Therapeutics (NASDAQ:GBT) last issued its quarterly earnings data on Tuesday, February 27th. The company reported ($0.94) EPS for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.22). analysts predict that Global Blood Therapeutics will post -3.72 earnings per share for the current year.

In other news, insider Peter Radovich sold 15,000 shares of the company’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $50.00, for a total value of $750,000.00. Following the sale, the insider now owns 17,684 shares in the company, valued at approximately $884,200. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jung Choi sold 3,000 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $62.95, for a total transaction of $188,850.00. Following the completion of the sale, the insider now owns 140,877 shares in the company, valued at approximately $8,868,207.15. The disclosure for this sale can be found here. In the last 90 days, insiders sold 54,911 shares of company stock worth $3,112,352. Company insiders own 5.30% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Perceptive Advisors LLC raised its stake in Global Blood Therapeutics by 14.7% during the fourth quarter. Perceptive Advisors LLC now owns 4,889,066 shares of the company’s stock worth $192,384,000 after acquiring an additional 625,000 shares during the period. Orbimed Advisors LLC boosted its holdings in shares of Global Blood Therapeutics by 10.2% in the third quarter. Orbimed Advisors LLC now owns 2,393,635 shares of the company’s stock valued at $74,322,000 after acquiring an additional 221,700 shares in the last quarter. Point72 Asset Management L.P. boosted its holdings in shares of Global Blood Therapeutics by 189.5% in 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 acquiring an additional 1,323,934 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Global Blood Therapeutics by 43.8% in the third quarter. Janus Henderson Group PLC now owns 1,415,558 shares of the company’s stock valued at $43,953,000 after acquiring an additional 431,325 shares in the last quarter. Finally, Citadel Advisors LLC boosted its holdings in shares of Global Blood Therapeutics by 161.7% in the fourth quarter. Citadel Advisors LLC now owns 716,611 shares of the company’s stock valued at $28,199,000 after acquiring an additional 442,828 shares in the last quarter. Institutional investors and hedge funds own 85.40% of the company’s stock.

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About Global Blood Therapeutics

Global Blood Therapeutics Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of novel therapeutics to treat grievous blood-based disorders. Its lead product candidate is voxelotor, an oral once-daily therapy that modulates hemoglobin's affinity for oxygen, which is in Phase 3 clinical trials in adult and adolescent patients with sickle cell disease (SCD), as well as in evaluating the safety and pharmacokinetics of single and multiple doses of voxelotor in a Phase 2a clinical trial of adolescent and pediatric patients with SCD.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Global Blood Therapeutics (NASDAQ:GBT)

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