BidaskClub upgraded shares of Global Blood Therapeutics (NASDAQ:GBT) from a buy rating to a strong-buy rating in a research report sent to investors on Tuesday.

A number of other brokerages have also recently weighed in on GBT. Cantor Fitzgerald set a $61.00 target price on shares of Global Blood Therapeutics and gave the stock a buy rating in a report on Monday. HC Wainwright set a $73.00 target price on shares of Global Blood Therapeutics and gave the stock a buy rating in a report on Monday. Nomura raised their target price on shares of Global Blood Therapeutics to $91.00 and gave the stock a buy rating in a report on Monday. ValuEngine cut shares of Global Blood Therapeutics from a hold rating to a sell rating in a report on Friday, December 1st. Finally, Wedbush restated an outperform rating and set a $73.00 target price on shares of Global Blood Therapeutics in a report on Monday, December 4th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of Buy and an average target price of $62.07.

Shares of Global Blood Therapeutics (NASDAQ:GBT) traded up $1.05 during trading hours on Tuesday, reaching $39.40. 2,547,200 shares of the company were exchanged, compared to its average volume of 1,029,104. Global Blood Therapeutics has a 1 year low of $13.35 and a 1 year high of $45.85.

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 the Zacks’ consensus estimate of ($0.62) by ($0.04). During the same period in the previous year, the company posted ($0.58) EPS. equities research analysts predict that Global Blood Therapeutics will post -2.55 EPS for the current fiscal year.

In related news, Director Charles J. Homcy sold 70,000 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $33.97, for a total value of $2,377,900.00. Following the completion of the sale, the director now owns 83,328 shares in the company, valued at approximately $2,830,652.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jung Choi sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, September 29th. The shares were 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 owns 140,055 shares of the company’s stock, valued at approximately $4,201,650. The disclosure for this sale can be found here. In the last 90 days, insiders sold 88,500 shares of company stock valued at $3,003,350. 5.30% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. lifted its position in Global Blood Therapeutics by 189.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,022,700 shares of the company’s stock worth $62,805,000 after buying an additional 1,323,934 shares in the last quarter. Perceptive Advisors LLC lifted its position in Global Blood Therapeutics by 8.4% in the 3rd quarter. Perceptive Advisors LLC now owns 4,264,066 shares of the company’s stock worth $132,399,000 after buying an additional 330,139 shares in the last quarter. Orbimed Advisors LLC lifted its position in Global Blood Therapeutics by 10.2% in the 3rd quarter. Orbimed Advisors LLC now owns 2,393,635 shares of the company’s stock worth $74,322,000 after buying an additional 221,700 shares in the last quarter. Janus Henderson Group PLC lifted its position in Global Blood Therapeutics by 43.8% in the 3rd quarter. Janus Henderson Group PLC now owns 1,415,558 shares of the company’s stock worth $43,953,000 after buying an additional 431,325 shares in the last quarter. Finally, Jane Street Group LLC purchased a new stake in Global Blood Therapeutics in the 3rd quarter worth approximately $200,000. Institutional investors own 90.48% of the company’s stock.

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About Global Blood Therapeutics

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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