Global Blood Therapeutics, Inc. (NASDAQ:GBT)‘s stock had its “overweight” rating reiterated by equities researchers at J P Morgan Chase & Co in a report issued on Tuesday, MarketBeat reports. They presently have a $46.00 price target on the stock, up from their previous price target of $44.00. J P Morgan Chase & Co’s target price would suggest a potential upside of 69.74% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. Wedbush reiterated an “outperform” rating and issued a $73.00 target price on shares of Global Blood Therapeutics in a research note on Tuesday, May 2nd. 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 price objective for the company. BidaskClub upgraded shares of Global Blood Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, August 5th. SunTrust Banks, Inc. initiated coverage on shares of Global Blood Therapeutics in a report on Monday, April 17th. They set a “buy” rating and a $56.00 target price for the company. Finally, ValuEngine raised shares of Global Blood Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the company’s stock. Global Blood Therapeutics currently has a consensus rating of “Buy” and an average price target of $50.75.

Global Blood Therapeutics (NASDAQ GBT) opened at 27.05 on Tuesday. The stock’s market cap is $1.18 billion. Global Blood Therapeutics has a 12 month low of $13.35 and a 12 month high of $41.15. The company’s 50 day moving average is $28.27 and its 200 day moving average is $28.65.

Global Blood Therapeutics (NASDAQ:GBT) last posted its quarterly earnings results on Monday, August 7th. The company reported ($0.55) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.61) by $0.06. During the same quarter in the previous year, the company posted ($0.58) earnings per share. On average, analysts anticipate that Global Blood Therapeutics will post ($2.48) EPS for the current fiscal year.

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

A number of large investors have recently added to or reduced their stakes in the stock. Fiduciary Trust Co. boosted its position in shares of Global Blood Therapeutics by 57.3% in the second quarter. Fiduciary Trust Co. now owns 21,879 shares of the company’s stock worth $598,000 after buying an additional 7,970 shares in the last quarter. Sphera Funds Management LTD. bought a new stake in Global Blood Therapeutics during the second quarter worth approximately $4,103,000. JPMorgan Chase & Co. boosted its stake in Global Blood Therapeutics by 5.1% in the second quarter. JPMorgan Chase & Co. now owns 235,675 shares of the company’s stock worth $6,446,000 after buying an additional 11,468 shares in the last quarter. Prudential Financial Inc. boosted its stake in Global Blood Therapeutics by 46.2% in the second quarter. Prudential Financial Inc. now owns 109,995 shares of the company’s stock worth $3,008,000 after buying an additional 34,749 shares in the last quarter. Finally, University of Texas Investment Managment Co. bought a new stake in Global Blood Therapeutics during the second quarter worth approximately $487,000. 72.29% of the stock is owned by institutional investors.

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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