Global Blood Therapeutics (NASDAQ:GBT) PT Set at $74.00 by Wedbush

Wedbush set a $74.00 price target on Global Blood Therapeutics (NASDAQ:GBT – Get Rating) in a report published on Monday, Stock Target Advisor reports.

Other analysts have also issued reports about the company. Oppenheimer reduced their price objective on Global Blood Therapeutics from $86.00 to $71.00 in a research note on Thursday, May 5th. Morgan Stanley lifted their price target on Global Blood Therapeutics from $28.00 to $31.00 and gave the company an equal weight rating in a research note on Monday, February 28th. Cantor Fitzgerald started coverage on Global Blood Therapeutics in a research note on Thursday, April 28th. They set a buy rating and a $75.00 price target on the stock. HC Wainwright reissued a buy rating and set a $75.00 price target on shares of Global Blood Therapeutics in a research note on Thursday, February 24th. Finally, StockNews.com raised Global Blood Therapeutics from a sell rating to a hold rating in a research note on Thursday, May 5th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $58.67.

Shares of NASDAQ GBT opened at $30.93 on Monday. The stock’s fifty day moving average is $27.77 and its 200 day moving average is $29.58. The stock has a market capitalization of $2.01 billion, a P/E ratio of -6.35 and a beta of 1.11. The company has a debt-to-equity ratio of 4.34, a quick ratio of 7.74 and a current ratio of 8.52. Global Blood Therapeutics has a 52 week low of $21.65 and a 52 week high of $40.69.

Global Blood Therapeutics (NASDAQ:GBT – Get Rating) last released its quarterly earnings data on Wednesday, May 4th. The company reported ($1.26) earnings per share for the quarter, beating the consensus estimate of ($1.29) by $0.03. The business had revenue of $55.20 million for the quarter, compared to analyst estimates of $56.13 million. Global Blood Therapeutics had a negative return on equity of 129.74% and a negative net margin of 146.82%. Global Blood Therapeutics’s revenue was up 41.5% compared to the same quarter last year. During the same period last year, the firm posted ($1.21) earnings per share. Equities research analysts forecast that Global Blood Therapeutics will post -4.64 earnings per share for the current year.

In related news, Director Philip A. Pizzo sold 1,260 shares of the company’s stock in a transaction on Tuesday, June 21st. The stock was sold at an average price of $27.25, for a total transaction of $34,335.00. Following the completion of the sale, the director now owns 9,112 shares in the company, valued at $248,302. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 4.70% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Eubel Brady & Suttman Asset Management Inc. bought a new stake in Global Blood Therapeutics during the first quarter worth $17,322,000. Janus Henderson Group PLC grew its holdings in Global Blood Therapeutics by 1.7% during the third quarter. Janus Henderson Group PLC now owns 6,272,682 shares of the company’s stock worth $159,826,000 after buying an additional 104,532 shares in the last quarter. Vanguard Group Inc. grew its holdings in Global Blood Therapeutics by 0.5% during the first quarter. Vanguard Group Inc. now owns 6,024,262 shares of the company’s stock worth $208,680,000 after buying an additional 31,120 shares in the last quarter. Perceptive Advisors LLC grew its holdings in Global Blood Therapeutics by 6.1% during the third quarter. Perceptive Advisors LLC now owns 4,407,399 shares of the company’s stock worth $112,300,000 after buying an additional 254,710 shares in the last quarter. Finally, State Street Corp grew its holdings in Global Blood Therapeutics by 9.0% during the first quarter. State Street Corp now owns 3,456,012 shares of the company’s stock worth $119,716,000 after buying an additional 284,877 shares in the last quarter.

About Global Blood Therapeutics (Get Rating)

Global Blood Therapeutics, Inc, a biopharmaceutical company, engages in the discovery, development, and delivery of treatments for underserved patient communities with sickle cell disease (SCD). The company offers Oxbryta tablets, an oral, once-daily therapy for SCD. It also evaluates the safety and pharmacokinetics of single and multiple doses of Oxbryta in a Phase II a clinical trial of adolescent and pediatric patients with SCD.

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