Global Blood Therapeutics, Inc. (NASDAQ:GBT) Receives Average Rating of “Buy” from Analysts

Shares of Global Blood Therapeutics, Inc. (NASDAQ:GBT) have been given an average rating of “Buy” by the twenty brokerages that are covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $85.82.

Several research firms have recently weighed in on GBT. HC Wainwright reaffirmed a “buy” rating and set a $75.00 price objective on shares of Global Blood Therapeutics in a report on Tuesday, December 15th. Piper Sandler lowered shares of Global Blood Therapeutics from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $75.00 to $50.00 in a report on Wednesday, January 20th. William Blair lowered shares of Global Blood Therapeutics from an “outperform” rating to a “market perform” rating in a report on Thursday, February 25th. Wolfe Research assumed coverage on shares of Global Blood Therapeutics in a report on Wednesday, March 17th. They set an “outperform” rating and a $67.00 price objective for the company. Finally, Morgan Stanley decreased their price target on shares of Global Blood Therapeutics from $67.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 16th.

NASDAQ:GBT traded down $1.06 during mid-day trading on Thursday, hitting $41.22. The company’s stock had a trading volume of 961,885 shares, compared to its average volume of 996,965. Global Blood Therapeutics has a fifty-two week low of $36.49 and a fifty-two week high of $83.69. The company has a current ratio of 7.63, a quick ratio of 7.20 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $2.56 billion, a price-to-earnings ratio of -9.12 and a beta of 1.39. The stock has a fifty day moving average of $43.44 and a 200-day moving average of $47.77.

Global Blood Therapeutics (NASDAQ:GBT) last posted its quarterly earnings results on Tuesday, February 23rd. The company reported ($1.00) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.97) by ($0.03). Global Blood Therapeutics had a negative return on equity of 56.43% and a negative net margin of 332.94%. On average, equities analysts anticipate that Global Blood Therapeutics will post -3.98 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the stock. Treasurer of the State of North Carolina boosted its holdings in Global Blood Therapeutics by 1.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 21,820 shares of the company’s stock valued at $945,000 after purchasing an additional 350 shares during the period. tru Independence LLC bought a new stake in Global Blood Therapeutics in the 4th quarter valued at about $17,324,000. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Global Blood Therapeutics by 8.0% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,910 shares of the company’s stock valued at $343,000 after purchasing an additional 585 shares during the period. Calton & Associates Inc. boosted its holdings in Global Blood Therapeutics by 10.4% in the 4th quarter. Calton & Associates Inc. now owns 6,288 shares of the company’s stock valued at $272,000 after purchasing an additional 593 shares during the period. Finally, Swiss National Bank boosted its holdings in Global Blood Therapeutics by 0.5% in the 4th quarter. Swiss National Bank now owns 124,900 shares of the company’s stock valued at $5,409,000 after purchasing an additional 600 shares during the period.

Global Blood Therapeutics Company Profile

Global Blood Therapeutics, Inc, a biopharmaceutical company, engages in the discovery, development, and delivery of treatments for underserved patient communities. The company offers Oxbryta tablets, an oral, once-daily therapy for sickle cell disease (SCD). It is evaluating the safety and pharmacokinetics of single and multiple doses of Oxbryta in a Phase 2a clinical trial of adolescent and pediatric patients with SCD.

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