Global Blood Therapeutics (NASDAQ:GBT) Rating Reiterated by Wedbush

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Wedbush reiterated their outperform rating on shares of Global Blood Therapeutics (NASDAQ:GBT) in a research report sent to investors on Monday morning, RTT News reports. They currently have a $103.00 target price on the stock. Wedbush also issued estimates for Global Blood Therapeutics’ Q3 2019 earnings at ($1.04) EPS, Q4 2019 earnings at ($1.06) EPS, FY2019 earnings at ($3.99) EPS, Q1 2020 earnings at ($0.96) EPS, Q2 2020 earnings at ($0.96) EPS, Q3 2020 earnings at ($0.87) EPS, Q4 2020 earnings at ($0.79) EPS, FY2020 earnings at ($3.57) EPS, FY2021 earnings at ($1.86) EPS and FY2023 earnings at $5.28 EPS.

GBT has been the subject of a number of other research reports. Cantor Fitzgerald set a $110.00 price target on Global Blood Therapeutics and gave the stock a buy rating in a research report on Friday, June 14th. Goldman Sachs Group reaffirmed a neutral rating and issued a $75.00 price target on shares of Global Blood Therapeutics in a research report on Wednesday, May 29th. BidaskClub cut Global Blood Therapeutics from a hold rating to a sell rating in a research report on Saturday, August 3rd. Oppenheimer boosted their price target on Global Blood Therapeutics from $82.00 to $89.00 and gave the stock an outperform rating in a research report on Thursday, May 9th. Finally, HC Wainwright reaffirmed a buy rating and issued a $150.00 price target on shares of Global Blood Therapeutics in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Global Blood Therapeutics currently has a consensus rating of Buy and an average price target of $88.33.

Shares of NASDAQ GBT opened at $46.68 on Monday. The business’s 50-day moving average price is $53.99 and its two-hundred day moving average price is $54.82. The company has a debt-to-equity ratio of 0.03, a current ratio of 16.79 and a quick ratio of 16.79. Global Blood Therapeutics has a one year low of $30.15 and a one year high of $64.94. The company has a market capitalization of $2.90 billion, a P/E ratio of -13.69 and a beta of 1.51.

Global Blood Therapeutics (NASDAQ:GBT) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($1.01) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.05). During the same period in the prior year, the business earned ($0.78) earnings per share. On average, equities analysts anticipate that Global Blood Therapeutics will post -3.93 EPS for the current year.

Several hedge funds have recently added to or reduced their stakes in GBT. Price T Rowe Associates Inc. MD grew its stake in shares of Global Blood Therapeutics by 15.9% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 4,176,942 shares of the company’s stock valued at $219,707,000 after purchasing an additional 572,808 shares during the period. Vanguard Group Inc. grew its stake in shares of Global Blood Therapeutics by 10.0% in the 2nd quarter. Vanguard Group Inc. now owns 5,366,126 shares of the company’s stock valued at $282,258,000 after purchasing an additional 485,866 shares during the period. Eagle Asset Management Inc. bought a new stake in shares of Global Blood Therapeutics in the 2nd quarter valued at approximately $22,984,000. Norges Bank bought a new stake in shares of Global Blood Therapeutics in the 4th quarter valued at approximately $17,826,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Global Blood Therapeutics by 497.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 492,420 shares of the company’s stock valued at $20,214,000 after purchasing an additional 409,934 shares during the period.

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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