Global Blood Therapeutics (NASDAQ:GBT)‘s stock had its “outperform” rating restated by analysts at Wedbush in a research note issued on Wednesday, March 14th, MarketBeat.com reports. They presently have a $73.00 price objective on the stock. Wedbush’s target price would indicate a potential upside of 56.99% from the stock’s current price.

A number of other equities research analysts also recently issued reports on the stock. Zacks Investment Research raised shares of Global Blood Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, December 6th. Nomura boosted their price target on shares of Global Blood Therapeutics to $91.00 and gave the company a “buy” rating in a research note on Monday, December 11th. Oppenheimer set a $79.00 price target on shares of Global Blood Therapeutics and gave the company a “buy” rating in a research note on Tuesday, December 12th. Cantor Fitzgerald set a $61.00 price target on shares of Global Blood Therapeutics and gave the company a “buy” rating in a research note on Monday, December 11th. Finally, BidaskClub raised shares of Global Blood Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, December 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the stock. Global Blood Therapeutics has an average rating of “Buy” and an average target price of $70.69.

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Shares of Global Blood Therapeutics stock traded down $1.80 on Wednesday, reaching $46.50. The company had a trading volume of 126,479 shares, compared to its average volume of 1,097,177. Global Blood Therapeutics has a 52-week low of $24.02 and a 52-week high of $68.05.

Global Blood Therapeutics (NASDAQ:GBT) last released its quarterly earnings results on Tuesday, February 27th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.22). research analysts forecast that Global Blood Therapeutics will post -3.72 EPS for the current year.

In related news, insider Peter Radovich sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $50.00, for a total transaction of $750,000.00. Following the sale, the insider now directly owns 17,684 shares of the company’s stock, valued at approximately $884,200. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jung Choi sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $62.95, for a total transaction of $188,850.00. Following the sale, the insider now directly owns 140,877 shares in the company, valued at $8,868,207.15. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 54,911 shares of company stock worth $3,112,352. 5.30% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in GBT. Parametric Portfolio Associates LLC increased its position in shares of Global Blood Therapeutics by 0.9% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 30,943 shares of the company’s stock valued at $846,000 after purchasing an additional 284 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Global Blood Therapeutics by 100.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 28,978 shares of the company’s stock valued at $792,000 after purchasing an additional 14,509 shares during the last quarter. California State Teachers Retirement System increased its position in shares of Global Blood Therapeutics by 65.6% in the 2nd quarter. California State Teachers Retirement System now owns 65,390 shares of the company’s stock valued at $1,788,000 after purchasing an additional 25,900 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Global Blood Therapeutics in the 3rd quarter valued at approximately $230,000. Finally, State Board of Administration of Florida Retirement System increased its position in shares of Global Blood Therapeutics by 38.6% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 17,759 shares of the company’s stock valued at $551,000 after purchasing an additional 4,950 shares during the last quarter. 85.40% of the stock is currently owned by institutional investors.

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Global Blood Therapeutics Company Profile

Global Blood Therapeutics Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of novel therapeutics to treat grievous blood-based disorders. Its lead product candidate is voxelotor, an oral once-daily therapy that modulates hemoglobin's affinity for oxygen, which is in Phase 3 clinical trials in adult and adolescent patients with sickle cell disease (SCD), as well as in evaluating the safety and pharmacokinetics of single and multiple doses of voxelotor in a Phase 2a clinical trial of adolescent and pediatric patients with SCD.

Analyst Recommendations for Global Blood Therapeutics (NASDAQ:GBT)

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