BidaskClub Lowers Global Blood Therapeutics (NASDAQ:GBT) to Sell

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BidaskClub lowered shares of Global Blood Therapeutics (NASDAQ:GBT) from a hold rating to a sell rating in a report published on Saturday morning, BidAskClub reports.

GBT has been the subject of a number of other research reports. Wedbush set a $103.00 price target on Global Blood Therapeutics and gave the company a buy rating in a research report on Friday, June 28th. HC Wainwright reissued a buy rating on shares of Global Blood Therapeutics in a report on Tuesday, June 25th. Oppenheimer raised their price objective on Global Blood Therapeutics from $82.00 to $89.00 and gave the company an outperform rating in a report on Thursday, May 9th. Cantor Fitzgerald set a $110.00 price objective on Global Blood Therapeutics and gave the company a buy rating in a report on Friday, June 14th. Finally, Goldman Sachs Group reissued a neutral rating and set a $75.00 price objective on shares of Global Blood Therapeutics in a report on Wednesday, May 29th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $87.46.

Shares of GBT opened at $49.90 on Friday. The company has a quick ratio of 14.51, a current ratio of 14.51 and a debt-to-equity ratio of 0.04. The firm’s 50-day simple moving average is $56.19. Global Blood Therapeutics has a 12-month low of $30.15 and a 12-month high of $64.94.

Global Blood Therapeutics (NASDAQ:GBT) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.87) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.94) by $0.07. On average, equities analysts forecast that Global Blood Therapeutics will post -3.81 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in GBT. Taylor Wealth Management Partners increased its stake in Global Blood Therapeutics by 0.5% in the 2nd quarter. Taylor Wealth Management Partners now owns 44,801 shares of the company’s stock worth $2,357,000 after purchasing an additional 217 shares during the period. State Board of Administration of Florida Retirement System increased its stake in Global Blood Therapeutics by 1.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 25,279 shares of the company’s stock worth $1,338,000 after purchasing an additional 310 shares during the period. BNP Paribas Arbitrage SA increased its stake in Global Blood Therapeutics by 3.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 12,522 shares of the company’s stock worth $663,000 after purchasing an additional 447 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Global Blood Therapeutics by 17.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,265 shares of the company’s stock worth $172,000 after purchasing an additional 482 shares during the period. Finally, Steward Partners Investment Advisory LLC purchased a new position in Global Blood Therapeutics in the 2nd quarter worth approximately $27,000.

Global Blood Therapeutics Company Profile

Global Blood Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and delivery of treatments for underserved patient communities. It is developing its lead product candidate, voxelotor, an oral, once-daily therapy for sickle cell disease (SCD). The company is evaluating voxelotor in SCD in a Phase III clinical trial in adult and adolescent patients with SCD.

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Analyst Recommendations for Global Blood Therapeutics (NASDAQ:GBT)

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