Global Blood Therapeutics (NASDAQ:GBT) Receives “Buy” Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Global Blood Therapeutics (NASDAQ:GBT) in a report issued on Wednesday morning, AnalystRatings.com reports. HC Wainwright currently has a $150.00 price objective on the stock.

Several other equities research analysts have also commented on GBT. Cantor Fitzgerald set a $110.00 price target on shares of Global Blood Therapeutics and gave the company a buy rating in a research note on Friday, June 14th. JPMorgan Chase & Co. reiterated a buy rating on shares of Global Blood Therapeutics in a research report on Thursday, September 5th. BidaskClub downgraded shares of Global Blood Therapeutics from a hold rating to a sell rating in a research report on Tuesday, October 1st. Cowen set a $83.00 target price on shares of Global Blood Therapeutics and gave the stock a buy rating in a research report on Thursday, September 5th. Finally, ValuEngine downgraded shares of Global Blood Therapeutics from a buy rating to a hold rating in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $90.42.

GBT traded down $1.07 during trading on Wednesday, reaching $46.08. The company’s stock had a trading volume of 240,124 shares, compared to its average volume of 734,681. Global Blood Therapeutics has a 52-week low of $30.15 and a 52-week high of $64.94. The company’s fifty day moving average price is $49.67 and its 200-day moving average price is $54.31. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of -13.51 and a beta of 1.58. The company has a debt-to-equity ratio of 0.03, a quick ratio of 16.79 and a current ratio of 16.79.

Global Blood Therapeutics (NASDAQ:GBT) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($1.01) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.96) by ($0.05). During the same period last year, the firm earned ($0.78) earnings per share. Equities analysts predict that Global Blood Therapeutics will post -3.98 earnings per share for the current year.

In related news, insider Lesley Ann Calhoun sold 2,765 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $54.36, for a total value of $150,305.40. Following the completion of the sale, the insider now owns 887 shares of the company’s stock, valued at $48,217.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Tricia Borga Suvari sold 3,249 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $48.70, for a total value of $158,226.30. Following the completion of 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. 4.30% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of GBT. Price T Rowe Associates Inc. MD grew its position in Global Blood Therapeutics by 15.9% in the second quarter. Price T Rowe Associates Inc. MD now owns 4,176,942 shares of the company’s stock worth $219,707,000 after acquiring an additional 572,808 shares during the period. Vanguard Group Inc. grew its position in Global Blood Therapeutics by 10.0% in the second quarter. Vanguard Group Inc. now owns 5,366,126 shares of the company’s stock worth $282,258,000 after acquiring an additional 485,866 shares during the period. Eagle Asset Management Inc. purchased a new position in shares of Global Blood Therapeutics during the second quarter worth $22,984,000. Bank of America Corp DE boosted its position in shares of Global Blood Therapeutics by 13.6% during the second quarter. Bank of America Corp DE now owns 3,271,277 shares of the company’s stock worth $172,069,000 after buying an additional 392,104 shares during the period. Finally, Luminus Management LLC purchased a new position in shares of Global Blood Therapeutics during the second quarter worth $20,368,000. 97.99% of the stock is owned by hedge funds and other 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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Analyst Recommendations for Global Blood Therapeutics (NASDAQ:GBT)

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