Global Blood Therapeutics Inc (NASDAQ:GBT) gapped down prior to trading on Thursday . The stock had previously closed at $49.90, but opened at $54.10. Global Blood Therapeutics shares last traded at $54.24, with a volume of 28,983 shares changing hands.
A number of research analysts have commented on GBT shares. Zacks Investment Research lowered Global Blood Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, March 4th. HC Wainwright set a $150.00 price target on Global Blood Therapeutics and gave the company a “buy” rating in a research report on Friday, April 12th. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $75.00 price target on shares of Global Blood Therapeutics in a research report on Thursday, February 28th. BidaskClub lowered Global Blood Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 11th. Finally, Morgan Stanley upped their price target on Global Blood Therapeutics from $55.00 to $57.00 and gave the company an “equal weight” rating in a research report on Monday, March 4th. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $89.29.
The stock’s 50-day moving average is $58.71. The firm has a market capitalization of $3.52 billion, a price-to-earnings ratio of -15.83 and a beta of 1.79. The company has a debt-to-equity ratio of 0.04, a quick ratio of 14.51 and a current ratio of 14.51.
Global Blood Therapeutics (NASDAQ:GBT) last posted its earnings results on Wednesday, May 8th. The company reported ($0.87) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.94) by $0.07. As a group, equities research analysts anticipate that Global Blood Therapeutics Inc will post -3.82 earnings per share for the current fiscal year.
Several hedge funds have recently bought and sold shares of the business. FMR LLC raised its holdings in Global Blood Therapeutics by 1.1% in the 1st quarter. FMR LLC now owns 8,417,709 shares of the company’s stock worth $445,549,000 after purchasing an additional 88,310 shares during the period. Metropolitan Life Insurance Co NY raised its holdings in Global Blood Therapeutics by 3.4% in the 1st quarter. Metropolitan Life Insurance Co NY now owns 16,873 shares of the company’s stock worth $893,000 after purchasing an additional 562 shares during the period. Advisory Services Network LLC bought a new position in Global Blood Therapeutics in the 1st quarter worth $318,000. Botty Investors LLC raised its holdings in Global Blood Therapeutics by 1.4% in the 1st quarter. Botty Investors LLC now owns 141,685 shares of the company’s stock worth $7,499,000 after purchasing an additional 2,000 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its holdings in Global Blood Therapeutics by 22.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 17,500 shares of the company’s stock worth $858,000 after purchasing an additional 3,200 shares during the period.
About Global Blood Therapeutics (NASDAQ:GBT)
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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