William Blair reissued their buy rating on shares of Global Blood Therapeutics (NASDAQ:GBT) in a research note issued to investors on Wednesday morning.

“We note that the company has enrolled another roughly 118 patients with the goal of seeking accelerated approval. As noted in Tuesday’s press release, management expects to provide a regulatory update by the end of the year .”,” William Blair’s analyst wrote.

Several other equities analysts also recently commented on GBT. Zacks Investment Research upgraded shares of Global Blood Therapeutics from a hold rating to a buy rating and set a $47.00 price target on the stock in a report on Thursday, July 19th. HC Wainwright reiterated a buy rating and set a $125.00 price target on shares of Global Blood Therapeutics in a report on Friday, July 27th. BidaskClub downgraded shares of Global Blood Therapeutics from a sell rating to a strong sell rating in a report on Wednesday, August 1st. Cantor Fitzgerald reiterated a buy rating and set a $96.00 price target on shares of Global Blood Therapeutics in a report on Thursday, August 2nd. Finally, JPMorgan Chase & Co. reiterated a buy rating and set a $75.00 price target on shares of Global Blood Therapeutics in a report on Sunday, August 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $80.20.

Shares of NASDAQ GBT traded down $0.90 during mid-day trading on Wednesday, hitting $40.79. 600,092 shares of the company’s stock traded hands, compared to its average volume of 1,053,323. The stock has a market capitalization of $2.06 billion, a price-to-earnings ratio of -14.78 and a beta of 3.70. Global Blood Therapeutics has a 1 year low of $31.50 and a 1 year high of $68.05.

Global Blood Therapeutics (NASDAQ:GBT) last announced its earnings results on Tuesday, November 6th. The company reported ($0.83) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.85) by $0.02. During the same quarter in the previous year, the firm earned ($0.66) EPS. On average, equities analysts forecast that Global Blood Therapeutics will post -3.38 EPS for the current fiscal year.

In other Global Blood Therapeutics news, insider Lesley Ann Calhoun sold 2,004 shares of the company’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $49.89, for a total value of $99,979.56. Following the transaction, the insider now directly owns 1,342 shares in the company, valued at approximately $66,952.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.40% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. California State Teachers Retirement System lifted its position in shares of Global Blood Therapeutics by 1.9% in the 1st quarter. California State Teachers Retirement System now owns 59,314 shares of the company’s stock worth $2,865,000 after purchasing an additional 1,115 shares during the period. First Allied Advisory Services Inc. lifted its position in shares of Global Blood Therapeutics by 21.4% in the 2nd quarter. First Allied Advisory Services Inc. now owns 7,950 shares of the company’s stock worth $359,000 after purchasing an additional 1,400 shares during the period. Great West Life Assurance Co. Can lifted its position in shares of Global Blood Therapeutics by 42.0% in the 2nd quarter. Great West Life Assurance Co. Can now owns 4,969 shares of the company’s stock worth $224,000 after purchasing an additional 1,469 shares during the period. Sei Investments Co. lifted its position in shares of Global Blood Therapeutics by 12.1% in the 2nd quarter. Sei Investments Co. now owns 13,850 shares of the company’s stock worth $626,000 after purchasing an additional 1,499 shares during the period. Finally, Cambridge Investment Research Advisors Inc. lifted its position in shares of Global Blood Therapeutics by 29.3% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 6,855 shares of the company’s stock worth $260,000 after purchasing an additional 1,555 shares during the period. 99.01% of the stock is owned by hedge funds and other institutional investors.

Global Blood Therapeutics Company Profile

Global Blood Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and delivery of treatments for underserved patient communities. It is developing its lead product candidate, voxelotor, an oral, once-daily therapy for sickle cell disease (SCD). The company is evaluating voxelotor in SCD in a Phase III clinical trial in adult and adolescent patients with SCD.

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Analyst Recommendations for Global Blood Therapeutics (NASDAQ:GBT)

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