Global Blood Therapeutics Inc. (NASDAQ:GBT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.

According to Zacks, “Global Blood Therapeutics, Inc. is a biopharmaceutical company which is engaged in discovering, developing and commercializing novel therapeutics to treat grievous blood-based disorders. Its product candidate consists of GBT440 is an oral, once-daily prophylactic therapy for sickle cell disease which is in clinical trial. The company in addition to GBT is involved in research and development activities targeted hypoxemic pulmonary disorders, including idiopathic pulmonary fibrosis and hereditary angioedema. Global Blood Therapeutics, Inc. is based in South San Francisco, California. “

GBT has been the subject of several other research reports. Roth Capital initiated coverage on shares of Global Blood Therapeutics in a report on Tuesday, November 1st. They set a “buy” rating and a $47.00 price objective for the company. Wedbush reissued an “outperform” rating and set a $66.00 price objective on shares of Global Blood Therapeutics in a report on Monday, August 22nd. Wells Fargo & Co. initiated coverage on shares of Global Blood Therapeutics in a report on Friday, September 30th. They set an “outperform” rating and a $23.05 price objective for the company. Cowen and Company reissued an “outperform” rating and set a $83.00 price objective (up previously from $80.00) on shares of Global Blood Therapeutics in a report on Wednesday, October 26th. Finally, Morgan Stanley reissued a “buy” rating and set a $62.00 price objective on shares of Global Blood Therapeutics in a report on Sunday, August 14th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Global Blood Therapeutics presently has an average rating of “Buy” and an average target price of $47.86.

Analyst Recommendations for Global Blood Therapeutics (NASDAQ:GBT)

Global Blood Therapeutics (NASDAQ:GBT) traded up 1.42% during mid-day trading on Monday, reaching $17.80. The company’s stock had a trading volume of 301,086 shares. Global Blood Therapeutics has a one year low of $12.24 and a one year high of $54.99. The firm’s 50 day moving average is $18.51 and its 200-day moving average is $19.24. The stock’s market cap is $664.22 million.

Global Blood Therapeutics (NASDAQ:GBT) last released its quarterly earnings data on Wednesday, November 9th. The company reported ($0.58) EPS for the quarter, meeting the consensus estimate of ($0.58). During the same quarter in the prior year, the company posted ($0.90) EPS. Equities analysts expect that Global Blood Therapeutics will post ($2.40) earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the stock. Candriam Luxembourg S.C.A. boosted its stake in shares of Global Blood Therapeutics by 71.4% in the third quarter. Candriam Luxembourg S.C.A. now owns 60,000 shares of the company’s stock valued at $1,383,000 after buying an additional 25,000 shares in the last quarter. Highbridge Capital Management LLC acquired a new stake in shares of Global Blood Therapeutics during the third quarter valued at about $483,000. D. E. Shaw & Co. Inc. boosted its stake in shares of Global Blood Therapeutics by 431.4% in the third quarter. D. E. Shaw & Co. Inc. now owns 82,374 shares of the company’s stock valued at $1,899,000 after buying an additional 66,874 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of Global Blood Therapeutics during the third quarter valued at about $276,000. Finally, TLP Group LLC acquired a new stake in shares of Global Blood Therapeutics during the third quarter valued at about $111,000. Hedge funds and other institutional investors own 63.25% of the company’s stock.

Global Blood Therapeutics Company Profile

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’s segment is engaged in discovering, developing and commercializing therapeutics to treat blood-based disorders.

5 Day Chart for NASDAQ:GBT

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