Global Blood Therapeutics (NASDAQ:GBT) has been assigned a $125.00 price objective by stock analysts at HC Wainwright in a report issued on Thursday, September 13th. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price objective would indicate a potential upside of 252.31% from the stock’s previous close.
Several other equities analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Global Blood Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, August 28th. Cantor Fitzgerald set a $96.00 price target on shares of Global Blood Therapeutics and gave the company a “buy” rating in a report on Thursday, August 23rd. Cowen reissued a “buy” rating and set a $83.00 price target on shares of Global Blood Therapeutics in a report on Monday, August 13th. BidaskClub upgraded shares of Global Blood Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 8th. Finally, Wedbush restated an “outperform” rating and set a $73.00 price objective on shares of Global Blood Therapeutics in a research note on Monday, August 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $79.67.
Shares of GBT traded up $0.43 during midday trading on Thursday, hitting $35.48. 1,131,300 shares of the stock traded hands, compared to its average volume of 1,036,814. Global Blood Therapeutics has a 1-year low of $29.95 and a 1-year high of $68.05. The company has a market cap of $1.98 billion, a price-to-earnings ratio of -12.86 and a beta of 4.33.
Global Blood Therapeutics (NASDAQ:GBT) last announced its quarterly earnings results on Thursday, August 2nd. The company reported ($0.78) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.87) by $0.09. During the same quarter last year, the company posted ($0.55) EPS. On average, equities analysts expect that Global Blood Therapeutics will post -3.38 EPS for the current fiscal year.
In other Global Blood Therapeutics news, insider Lesley Ann Calhoun sold 2,004 shares of Global Blood Therapeutics stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $49.89, for a total transaction of $99,979.56. Following the transaction, the insider now owns 1,342 shares of the company’s stock, valued at approximately $66,952.38. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 4.40% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. State of Wisconsin Investment Board grew its stake in shares of Global Blood Therapeutics by 40.6% in the 2nd quarter. State of Wisconsin Investment Board now owns 52,300 shares of the company’s stock valued at $2,364,000 after buying an additional 15,100 shares in the last quarter. Nexthera Capital LP grew its stake in shares of Global Blood Therapeutics by 28.2% in the 2nd quarter. Nexthera Capital LP now owns 404,092 shares of the company’s stock valued at $18,265,000 after buying an additional 88,945 shares in the last quarter. American Century Companies Inc. bought a new stake in shares of Global Blood Therapeutics in the 2nd quarter valued at approximately $2,680,000. State Board of Administration of Florida Retirement System lifted its holdings in Global Blood Therapeutics by 19.7% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 23,669 shares of the company’s stock worth $1,070,000 after purchasing an additional 3,900 shares during the last quarter. Finally, ING Groep NV acquired a new stake in Global Blood Therapeutics in the 2nd quarter worth approximately $1,965,000. 98.79% of the stock is currently owned by institutional investors.
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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