Global Blood Therapeutics Inc (NASDAQ:GBT)’s share price shot up 6.1% during trading on Tuesday . The company traded as high as $60.60 and last traded at $59.80. 1,448,173 shares traded hands during trading, a decline of 6% from the average session volume of 1,548,793 shares. The stock had previously closed at $56.35.

A number of brokerages have recently commented on GBT. William Blair began coverage on shares of Global Blood Therapeutics in a report on Tuesday. They set an “outperform” rating and a $80.00 price target on the stock. Oppenheimer set a $53.00 price target on shares of Global Blood Therapeutics and gave the stock a “buy” rating in a report on Monday, October 23rd. BidaskClub upgraded shares of Global Blood Therapeutics from a “hold” rating to a “buy” rating in a report on Wednesday, November 1st. ValuEngine lowered shares of Global Blood Therapeutics from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Finally, Zacks Investment Research upgraded shares of Global Blood Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, December 6th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and fifteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $63.27.

The company has a market cap of $2,750.00 and a price-to-earnings ratio of -23.45.

Global Blood Therapeutics (NASDAQ:GBT) last released its earnings results on Thursday, November 2nd. The company reported ($0.66) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.62) by ($0.04). During the same quarter last year, the business posted ($0.58) EPS. sell-side analysts predict that Global Blood Therapeutics Inc will post -2.53 earnings per share for the current year.

In related news, insider Jung Choi sold 3,000 shares of the business’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $52.85, for a total value of $158,550.00. Following the transaction, the insider now owns 137,255 shares in the company, valued at $7,253,926.75. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Charles J. Homcy sold 70,000 shares of the business’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $33.97, for a total transaction of $2,377,900.00. Following the completion of the transaction, the director now owns 83,328 shares in the company, valued at approximately $2,830,652.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 103,500 shares of company stock worth $3,833,600. 5.30% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in GBT. Schwab Charles Investment Management Inc. lifted its holdings in Global Blood Therapeutics by 35.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 149,634 shares of the company’s stock valued at $4,093,000 after buying an additional 38,829 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Global Blood Therapeutics by 32.1% during the second quarter. Bank of New York Mellon Corp now owns 184,173 shares of the company’s stock valued at $5,037,000 after purchasing an additional 44,784 shares during the period. Legal & General Group Plc raised its holdings in shares of Global Blood Therapeutics by 93.4% during the second quarter. Legal & General Group Plc now owns 9,315 shares of the company’s stock valued at $256,000 after purchasing an additional 4,499 shares during the period. BNP Paribas Arbitrage SA raised its holdings in shares of Global Blood Therapeutics by 694.9% during the second quarter. BNP Paribas Arbitrage SA now owns 4,547 shares of the company’s stock valued at $124,000 after purchasing an additional 3,975 shares during the period. Finally, Prudential Financial Inc. raised its holdings in shares of Global Blood Therapeutics by 46.2% during the second quarter. Prudential Financial Inc. now owns 109,995 shares of the company’s stock valued at $3,008,000 after purchasing an additional 34,749 shares during the period. Institutional investors and hedge funds own 85.71% of the company’s stock.

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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).

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