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.
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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