Global Blood Therapeutics (NASDAQ:GBT) was downgraded by BidaskClub from a “strong-buy” rating to a “buy” rating in a note issued to investors on Wednesday, December 20th.
Several other equities research analysts also recently weighed in on GBT. Needham & Company LLC set a $51.00 price target on Global Blood Therapeutics and gave the stock a “buy” rating in a report on Tuesday, October 24th. Oppenheimer set a $53.00 price target on Global Blood Therapeutics and gave the stock a “buy” rating in a report on Wednesday, October 11th. Zacks Investment Research downgraded Global Blood Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, October 16th. HC Wainwright set a $73.00 price target on Global Blood Therapeutics and gave the stock a “buy” rating in a report on Monday, December 11th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $56.00 price target (up from $51.00) on shares of Global Blood Therapeutics in a report on Friday, October 6th. One research analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have issued a buy rating to the stock. Global Blood Therapeutics has an average rating of “Buy” and a consensus target price of $62.07.
Shares of Global Blood Therapeutics (GBT) traded up $0.15 during mid-day trading on Wednesday, reaching $56.60. The company’s stock had a trading volume of 968,500 shares, compared to its average volume of 1,824,567. Global Blood Therapeutics has a fifty-two week low of $14.70 and a fifty-two week high of $57.75. The stock has a market capitalization of $2,600.00 and a P/E ratio of -22.20.
Global Blood Therapeutics (NASDAQ:GBT) last issued its quarterly earnings results on Thursday, November 2nd. The company reported ($0.66) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($0.04). During the same period in the previous year, the firm posted ($0.58) earnings per share. research analysts expect that Global Blood Therapeutics will post -2.54 earnings per share for the current year.
In other Global Blood Therapeutics news, VP Peter Radovich sold 12,500 shares of the stock in a transaction on Monday, October 30th. The stock was sold at an average price of $35.00, for a total transaction of $437,500.00. Following the sale, the vice president now owns 2,684 shares of the company’s stock, valued at approximately $93,940. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jung Choi sold 3,000 shares of the stock in a transaction on Tuesday, October 17th. The shares were sold at an average price of $32.65, for a total value of $97,950.00. Following the sale, the insider now directly owns 138,455 shares in the company, valued at approximately $4,520,555.75. The disclosure for this sale can be found here. Insiders have sold a total of 103,500 shares of company stock worth $3,773,000 over the last 90 days. 5.30% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in GBT. BNP Paribas Arbitrage SA boosted its position in Global Blood Therapeutics by 694.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,547 shares of the company’s stock valued at $124,000 after acquiring an additional 3,975 shares in the last quarter. Jane Street Group LLC bought a new stake in Global Blood Therapeutics during the 3rd quarter valued at $200,000. Trexquant Investment LP bought a new stake in Global Blood Therapeutics during the 3rd quarter valued at $202,000. Dynamic Technology Lab Private Ltd bought a new stake in Global Blood Therapeutics during the 3rd quarter valued at $205,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in Global Blood Therapeutics during the 2nd quarter valued at $211,000. 85.72% of the stock is currently owned by institutional investors and hedge funds.
About Global Blood Therapeutics
Global Blood Therapeutics, Inc is a clinical-stage biopharmaceutical company. The Company is engaged in discovering, developing and commercializing therapeutics to treat blood-based disorders. The Company is developing its initial product candidate, GBT440, as an oral, once-daily therapy for sickle cell disease (SCD).
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