Wedbush reaffirmed their ourperform rating on shares of Global Blood Therapeutics, Inc. (NASDAQ:GBT) in a report published on Monday. Wedbush currently has a $73.00 price target on the stock.

A number of other equities analysts have also weighed in on GBT. BidaskClub lowered Global Blood Therapeutics from a hold rating to a sell rating in a research note on Thursday, September 14th. Morgan Stanley restated an overweight rating on shares of Global Blood Therapeutics in a research note on Tuesday, July 11th. ValuEngine lowered Global Blood Therapeutics from a hold rating to a sell rating in a research note on Saturday, June 3rd. J P Morgan Chase & Co restated an overweight rating and issued a $46.00 target price (up from $44.00) on shares of Global Blood Therapeutics in a research note on Tuesday, August 8th. Finally, Cowen and Company restated an outperform rating and issued a $83.00 target price on shares of Global Blood Therapeutics in a research note on Monday, August 14th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and eleven have issued a buy rating to the company. Global Blood Therapeutics currently has an average rating of Buy and an average target price of $49.73.

Global Blood Therapeutics (NASDAQ:GBT) opened at 27.80 on Monday. The company’s market cap is $1.21 billion. Global Blood Therapeutics has a 12 month low of $13.35 and a 12 month high of $41.15. The company has a 50 day moving average price of $27.80 and a 200-day moving average price of $30.05.

Global Blood Therapeutics (NASDAQ:GBT) last issued its quarterly earnings data on Monday, August 7th. The company reported ($0.55) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.06. During the same period in the previous year, the firm posted ($0.58) EPS. Equities analysts predict that Global Blood Therapeutics will post ($2.45) earnings per share for the current fiscal year.

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In other Global Blood Therapeutics news, insider Jung Choi sold 3,000 shares of the stock in a transaction that occurred on Thursday, August 31st. 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 141,655 shares in the company, valued at approximately $4,249,650. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Deval L. Patrick sold 27,053 shares of the stock in a transaction that occurred on Tuesday, July 25th. The stock was 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 disclosure for this sale can be found here. In the last quarter, insiders sold 33,053 shares of company stock valued at $983,204. Company insiders own 5.30% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Morgan Stanley lifted its stake in shares of Global Blood Therapeutics by 140.0% in the 1st quarter. Morgan Stanley now owns 334,872 shares of the company’s stock valued at $12,340,000 after purchasing an additional 195,323 shares during the period. Sphera Funds Management LTD. purchased a new position in shares of Global Blood Therapeutics in the 2nd quarter valued at approximately $4,103,000. Creative Planning lifted its stake in shares of Global Blood Therapeutics by 3,380.5% in the 2nd quarter. Creative Planning now owns 41,801 shares of the company’s stock valued at $1,143,000 after purchasing an additional 40,600 shares during the period. MARSHALL WACE ASIA Ltd purchased a new position in shares of Global Blood Therapeutics in the 1st quarter valued at approximately $694,000. Finally, Marcus Capital LLC lifted its stake in shares of Global Blood Therapeutics by 25.7% in the 2nd quarter. Marcus Capital LLC now owns 65,350 shares of the company’s stock valued at $1,787,000 after purchasing an additional 13,350 shares during the period. Institutional investors own 86.07% 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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