Global Blood Therapeutics (NASDAQ:GBT) Downgraded to Sell at BidaskClub

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BidaskClub downgraded shares of Global Blood Therapeutics (NASDAQ:GBT) from a hold rating to a sell rating in a report published on Wednesday, September 19th.

Other equities research analysts also recently issued reports about the company. Wells Fargo & Co increased their price objective on Global Blood Therapeutics from $78.00 to $85.00 and gave the company an outperform rating in a report on Wednesday, June 27th. HC Wainwright increased their price target on Global Blood Therapeutics from $73.00 to $125.00 and gave the stock a buy rating in a report on Wednesday, June 27th. SunTrust Banks set a $70.00 price target on Global Blood Therapeutics and gave the stock a buy rating in a report on Sunday, August 5th. Piper Jaffray Companies began coverage on Global Blood Therapeutics in a report on Monday, August 6th. They set an overweight rating and a $80.00 price target for the company. Finally, Cantor Fitzgerald increased their price target on Global Blood Therapeutics from $69.00 to $96.00 and gave the stock an overweight rating in a report on Wednesday, June 27th. One analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Global Blood Therapeutics has a consensus rating of Buy and a consensus target price of $79.67.

Global Blood Therapeutics stock traded up $1.45 during mid-day trading on Wednesday, hitting $33.02. The company had a trading volume of 765,172 shares, compared to its average volume of 1,033,975. The firm has a market capitalization of $1.98 billion, a P/E ratio of -11.96 and a beta of 4.33. Global Blood Therapeutics has a 1 year low of $29.95 and a 1 year high of $68.05.

Global Blood Therapeutics (NASDAQ:GBT) last announced its quarterly earnings results on Thursday, August 2nd. The company reported ($0.78) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.87) by $0.09. During the same quarter in the previous year, the business earned ($0.55) earnings per share. As a group, sell-side analysts predict that Global Blood Therapeutics will post -3.38 earnings per share for the current year.

In other Global Blood Therapeutics news, insider Lesley Ann Calhoun sold 2,004 shares of the firm’s stock in a transaction on Friday, August 17th. The stock was sold at an average price of $49.89, for a total value of $99,979.56. Following the completion of the sale, the insider now owns 1,342 shares of the company’s stock, valued at $66,952.38. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 4.40% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in the company. Daiwa SB Investments Ltd. increased its position in shares of Global Blood Therapeutics by 5.8% in the third quarter. Daiwa SB Investments Ltd. now owns 34,521 shares of the company’s stock valued at $1,312,000 after buying an additional 1,891 shares in the last quarter. Northern Trust Corp increased its position in shares of Global Blood Therapeutics by 25.1% in the second quarter. Northern Trust Corp now owns 602,689 shares of the company’s stock valued at $27,241,000 after buying an additional 121,043 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Global Blood Therapeutics by 6.9% in the second quarter. Bank of New York Mellon Corp now owns 236,471 shares of the company’s stock valued at $10,689,000 after buying an additional 15,211 shares in the last quarter. California Public Employees Retirement System increased its position in shares of Global Blood Therapeutics by 646.9% in the second quarter. California Public Employees Retirement System now owns 57,645 shares of the company’s stock valued at $2,606,000 after buying an additional 49,927 shares in the last quarter. Finally, Nexthera Capital LP increased its position in shares of Global Blood Therapeutics by 28.2% in the second 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. Institutional investors and hedge funds own 98.79% of the company’s stock.

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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Analyst Recommendations for Global Blood Therapeutics (NASDAQ:GBT)

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