Global Blood Therapeutics, Inc. (NASDAQ:GBT) has been assigned a $53.00 price objective by Oppenheimer Holdings, Inc. in a report released on Monday. The brokerage currently has a “buy” rating on the stock. Oppenheimer Holdings, Inc.’s target price points to a potential upside of 37.84% from the company’s current price.

Several other equities research analysts have also issued reports on GBT. BidaskClub lowered Global Blood Therapeutics from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Zacks Investment Research downgraded Global Blood Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, November 7th. Cowen and Company reiterated a “buy” rating and set a $83.00 price target on shares of Global Blood Therapeutics in a research note on Thursday. J P Morgan Chase & Co reiterated an “overweight” rating and set a $46.00 price target (up previously from $44.00) on shares of Global Blood Therapeutics in a research note on Tuesday, August 8th. Finally, SunTrust Banks, Inc. raised their target price on Global Blood Therapeutics to $67.00 and gave the stock a “buy” rating in a research note on Monday, November 6th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $55.00.

Shares of Global Blood Therapeutics (NASDAQ:GBT) traded down $0.70 during mid-day trading on Monday, reaching $38.45. The company had a trading volume of 466,200 shares, compared to its average volume of 1,112,269. Global Blood Therapeutics has a 1-year low of $13.35 and a 1-year high of $43.95.

Global Blood Therapeutics (NASDAQ:GBT) last issued its earnings results on Thursday, November 2nd. The company reported ($0.66) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.04). During the same period in the prior year, the business earned ($0.58) earnings per share. equities analysts predict that Global Blood Therapeutics will post -2.49 EPS for the current fiscal year.

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In other Global Blood Therapeutics news, VP Peter Radovich sold 12,500 shares of the business’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $35.00, for a total value of $437,500.00. Following the sale, the vice president now directly owns 2,684 shares of the company’s stock, valued at $93,940. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jung Choi sold 3,000 shares of the business’s stock in a transaction 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 directly owns 141,655 shares in the company, valued at $4,249,650. The disclosure for this sale can be found here. Insiders sold a total of 91,500 shares of company stock worth $3,093,350 over the last ninety days. Insiders own 5.30% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Morgan Stanley boosted its holdings in Global Blood Therapeutics by 140.0% in the first quarter. Morgan Stanley now owns 334,872 shares of the company’s stock worth $12,340,000 after acquiring an additional 195,323 shares in the last quarter. Sphera Funds Management LTD. bought a new stake in Global Blood Therapeutics in the second quarter worth $4,103,000. Emory University bought a new stake in Global Blood Therapeutics in the second quarter worth $1,442,000. Marcus Capital LLC boosted its holdings in Global Blood Therapeutics by 25.7% in the second quarter. Marcus Capital LLC now owns 65,350 shares of the company’s stock worth $1,787,000 after acquiring an additional 13,350 shares in the last quarter. Finally, Citigroup Inc. boosted its holdings in Global Blood Therapeutics by 1,544.9% in the second quarter. Citigroup Inc. now owns 87,819 shares of the company’s stock worth $2,402,000 after acquiring an additional 82,480 shares in the last quarter. 86.76% of the stock is currently owned by institutional investors and hedge funds.

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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