Global Blood Therapeutics (NASDAQ:GBT) received a $83.00 target price from analysts at Cowen in a research report issued on Wednesday, TipRanks reports. The firm presently has a “buy” rating on the stock. Cowen’s price target would suggest a potential upside of 78.38% from the company’s current price.
GBT has been the topic of a number of other reports. Cantor Fitzgerald set a $110.00 price target on Global Blood Therapeutics and gave the company a “buy” rating in a report on Friday, June 14th. Wedbush reiterated a “buy” rating and issued a $120.00 price target on shares of Global Blood Therapeutics in a report on Wednesday. Wells Fargo & Co lifted their price target on Global Blood Therapeutics from $96.00 to $104.00 and gave the company an “outperform” rating in a report on Wednesday. ValuEngine downgraded Global Blood Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Morgan Stanley set a $60.00 price target on Global Blood Therapeutics and gave the company a “hold” rating in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $90.42.
Shares of NASDAQ:GBT traded up $0.56 on Wednesday, reaching $46.53. The company had a trading volume of 930,883 shares, compared to its average volume of 782,501. Global Blood Therapeutics has a 52-week low of $30.15 and a 52-week high of $64.94. The firm’s 50 day simple moving average is $49.66 and its 200-day simple moving average is $54.29. The firm has a market capitalization of $2.76 billion, a PE ratio of -13.65 and a beta of 1.58. The company has a current ratio of 16.79, a quick ratio of 16.79 and a debt-to-equity ratio of 0.03.
Global Blood Therapeutics (NASDAQ:GBT) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($1.01) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.96) by ($0.05). During the same quarter last year, the firm posted ($0.78) earnings per share. As a group, equities research analysts predict that Global Blood Therapeutics will post -3.98 earnings per share for the current year.
In related news, Director Deval L. Patrick sold 5,357 shares of the business’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $45.05, for a total transaction of $241,332.85. Following the transaction, the director now directly owns 5,357 shares in the company, valued at approximately $241,332.85. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Tricia Borga Suvari sold 3,249 shares of Global Blood Therapeutics stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $48.70, for a total value of $158,226.30. Following the sale, the insider now directly owns 13,513 shares of the company’s stock, valued at approximately $658,083.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,371 shares of company stock worth $549,865. 4.30% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Steward Partners Investment Advisory LLC acquired a new stake in Global Blood Therapeutics during the 2nd quarter worth about $27,000. Captrust Financial Advisors acquired a new stake in Global Blood Therapeutics during the 2nd quarter worth about $42,000. Truvestments Capital LLC lifted its position in Global Blood Therapeutics by 48.0% during the 3rd quarter. Truvestments Capital LLC now owns 925 shares of the company’s stock worth $45,000 after acquiring an additional 300 shares during the period. NumerixS Investment Technologies Inc acquired a new stake in Global Blood Therapeutics during the 2nd quarter worth about $63,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Global Blood Therapeutics by 17.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,265 shares of the company’s stock worth $172,000 after acquiring an additional 482 shares during the period. 97.99% of the stock is owned by institutional investors.
About Global Blood Therapeutics
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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