Zacks Investment Research cut shares of Global Blood Therapeutics (NASDAQ:GBT) from a buy rating to a hold rating in a research note published on Tuesday.

According to Zacks, “Global Blood Therapeutics, Inc. is a biopharmaceutical company which is engaged in discovering, developing and commercializing novel therapeutics to treat grievous blood-based disorders. Its product candidate consists of GBT440 is an oral, once-daily prophylactic therapy for sickle cell disease which is in clinical trial. The company in addition to GBT is involved in research and development activities targeted hypoxemic pulmonary disorders, including idiopathic pulmonary fibrosis and hereditary angioedema. Global Blood Therapeutics, Inc. is based in South San Francisco, California. “

Several other research analysts also recently issued reports on the stock. Cantor Fitzgerald set a $96.00 target price on shares of Global Blood Therapeutics and gave the stock a buy rating in a research note on Thursday, August 23rd. HC Wainwright set a $125.00 target price on shares of Global Blood Therapeutics and gave the stock a buy rating in a research note on Thursday, August 23rd. Cowen reiterated a buy rating and issued a $83.00 target price on shares of Global Blood Therapeutics in a research note on Monday, August 13th. BidaskClub upgraded shares of Global Blood Therapeutics from a strong sell rating to a sell rating in a research note on Wednesday, August 8th. Finally, Wedbush reiterated an outperform rating and issued a $73.00 target price on shares of Global Blood Therapeutics in a research note on Monday, August 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Global Blood Therapeutics has a consensus rating of Buy and a consensus target price of $80.53.

Shares of NASDAQ GBT opened at $49.00 on Tuesday. The company has a market capitalization of $2.61 billion, a PE ratio of -17.75 and a beta of 4.21. Global Blood Therapeutics has a 52-week low of $26.10 and a 52-week high of $68.05.

Global Blood Therapeutics (NASDAQ:GBT) last issued its earnings results on Thursday, August 2nd. The company reported ($0.78) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.87) by $0.09. During the same quarter in the prior year, the company posted ($0.55) earnings per share. research analysts forecast that Global Blood Therapeutics will post -3.38 EPS for the current year.

In other news, insider Lesley Ann Calhoun sold 3,295 shares of the business’s stock in a transaction that occurred on Monday, July 9th. The shares were sold at an average price of $44.19, for a total transaction of $145,606.05. Following the completion of the transaction, the insider now directly owns 1,388 shares of the company’s stock, valued at $61,335.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Deval L. Patrick sold 42,379 shares of the business’s stock in a transaction that occurred on Friday, July 6th. The shares were sold at an average price of $43.40, for a total transaction of $1,839,248.60. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $651,000. The disclosure for this sale can be found here. Insiders have sold 48,678 shares of company stock valued at $2,128,844 over the last three months. 4.40% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in Global Blood Therapeutics by 27.7% during the second quarter. BlackRock Inc. now owns 4,142,762 shares of the company’s stock valued at $187,252,000 after buying an additional 898,162 shares during the last quarter. Franklin Resources Inc. purchased a new stake in Global Blood Therapeutics during the first quarter valued at approximately $30,023,000. Janus Henderson Group PLC increased its holdings in Global Blood Therapeutics by 12.2% during the second quarter. Janus Henderson Group PLC now owns 4,154,385 shares of the company’s stock valued at $187,778,000 after buying an additional 452,843 shares during the last quarter. Frontier Capital Management Co. LLC purchased a new stake in Global Blood Therapeutics during the first quarter valued at approximately $9,268,000. Finally, Columbus Circle Investors purchased a new stake in Global Blood Therapeutics during the first quarter valued at approximately $8,262,000. 98.98% of the stock is owned by hedge funds and other institutional investors.

Global Blood Therapeutics Company Profile

Global Blood Therapeutics, Inc is a clinical-stage biopharmaceutical company, which engages in the discovering, developing and commercializing novel therapeutics to treat grievous blood-based disorders. It also provides oral medicines for sickle cell diseases. The company was founded by Matthew P. Jacobson, Andrej Sali, Jack Taunton, Charles J.

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