Global Blood Therapeutics, Inc. (NASDAQ:GBT)‘s stock had its “overweight” rating reaffirmed by equities researchers at Morgan Stanley in a research report issued on Tuesday, July 11th.

A number of other research firms have also weighed in on GBT. BidaskClub lowered shares of Global Blood Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday, June 20th. Janney Montgomery Scott initiated coverage on shares of Global Blood Therapeutics in a research note on Monday, May 1st. They set a “buy” rating and a $37.00 target price for the company. Cantor Fitzgerald started coverage on shares of Global Blood Therapeutics in a research report on Wednesday, March 15th. They set an “overweight” rating and a $61.00 price target for the company. ValuEngine upgraded shares of Global Blood Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Finally, Wedbush reiterated an “outperform” rating and set a $73.00 price target on shares of Global Blood Therapeutics in a research note on Tuesday, May 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $50.59.

Shares of Global Blood Therapeutics (NASDAQ:GBT) opened at 29.45 on Tuesday. The company has a 50-day moving average price of $28.28 and a 200-day moving average price of $28.34. Global Blood Therapeutics has a 12 month low of $13.35 and a 12 month high of $41.15. The company’s market capitalization is $1.28 billion.

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In other news, Director Deval L. Patrick sold 27,053 shares of the company’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $29.69, for a total value of $803,203.57. Following the completion of the sale, the director now owns 12,053 shares of the company’s stock, valued at approximately $357,853.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jung Choi sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $30.00, for a total transaction of $90,000.00. Following the completion of the sale, the insider now directly owns 143,255 shares of the company’s stock, valued at approximately $4,297,650. The disclosure for this sale can be found here. 5.30% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of GBT. BlackRock Inc. raised its position in shares of Global Blood Therapeutics by 4,675.5% in the first quarter. BlackRock Inc. now owns 2,618,847 shares of the company’s stock worth $96,503,000 after buying an additional 2,564,008 shares during the last quarter. White Square Capital LLP acquired a new stake in Global Blood Therapeutics during the first quarter worth $53,593,000. Perceptive Advisors LLC raised its stake in Global Blood Therapeutics by 23.3% in the first quarter. Perceptive Advisors LLC now owns 3,858,978 shares of the company’s stock worth $142,203,000 after buying an additional 730,000 shares during the last quarter. Vanguard Group Inc. raised its stake in Global Blood Therapeutics by 40.1% in the first quarter. Vanguard Group Inc. now owns 2,535,980 shares of the company’s stock worth $93,451,000 after buying an additional 726,366 shares during the last quarter. Finally, Redmile Group LLC raised its stake in Global Blood Therapeutics by 195.3% in the first quarter. Redmile Group LLC now owns 934,343 shares of the company’s stock worth $34,431,000 after buying an additional 617,943 shares during the last quarter. Hedge funds and other institutional investors own 71.86% 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 is developing its initial product candidate, GBT440, as an oral, once-daily therapy for sickle cell disease (SCD).

Analyst Recommendations for Global Blood Therapeutics (NASDAQ:GBT)

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