Global Blood Therapeutics Inc (NASDAQ:GBT) Receives $96.43 Consensus Target Price from Analysts

Shares of Global Blood Therapeutics Inc (NASDAQ:GBT) have been given an average rating of “Buy” by the seventeen ratings firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $96.43.

Several equities research analysts have recently issued reports on the stock. ValuEngine upgraded shares of Global Blood Therapeutics from a “hold” rating to a “buy” rating in a research note on Tuesday, March 3rd. Nomura lifted their target price on shares of Global Blood Therapeutics from $109.00 to $112.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Oppenheimer cut their target price on shares of Global Blood Therapeutics from to in a research note on Wednesday, March 18th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $120.00 target price on shares of Global Blood Therapeutics in a research note on Monday, December 23rd. Finally, Morgan Stanley cut their target price on shares of Global Blood Therapeutics from $80.00 to $71.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 3rd.

NASDAQ:GBT traded up $2.73 during midday trading on Friday, reaching $52.00. 1,116,416 shares of the company traded hands, compared to its average volume of 972,688. The company has a debt-to-equity ratio of 0.25, a current ratio of 8.79 and a quick ratio of 8.77. Global Blood Therapeutics has a twelve month low of $39.95 and a twelve month high of $87.54. The company has a fifty day moving average price of $62.42 and a 200 day moving average price of $62.72. The firm has a market capitalization of $2.74 billion, a price-to-earnings ratio of -11.45 and a beta of 1.62.

Global Blood Therapeutics (NASDAQ:GBT) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($1.73) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.24) by ($0.49). The company had revenue of $2.11 million during the quarter, compared to analysts’ expectations of $0.51 million. On average, equities research analysts forecast that Global Blood Therapeutics will post -5.49 earnings per share for the current fiscal year.

In other news, insider Ted W. Love sold 40,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $82.20, for a total transaction of $3,288,000.00. Following the completion of the sale, the insider now owns 1,112,673 shares in the company, valued at approximately $91,461,720.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Willie L. Jr. Brown purchased 10,000 shares of the firm’s stock in a transaction dated Friday, March 13th. The shares were bought at an average price of $52.37 per share, with a total value of $523,700.00. Following the purchase, the director now owns 31,428 shares in the company, valued at approximately $1,645,884.36. The disclosure for this purchase can be found here. Insiders have sold 53,885 shares of company stock worth $4,244,155 in the last three months. 4.30% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its holdings in shares of Global Blood Therapeutics by 3.6% during the fourth quarter. Victory Capital Management Inc. now owns 7,257 shares of the company’s stock worth $474,000 after purchasing an additional 249 shares during the period. Guggenheim Capital LLC lifted its holdings in shares of Global Blood Therapeutics by 0.6% in the fourth quarter. Guggenheim Capital LLC now owns 47,117 shares of the company’s stock valued at $3,745,000 after buying an additional 278 shares during the period. Advisor Group Inc. lifted its holdings in shares of Global Blood Therapeutics by 36.6% in the fourth quarter. Advisor Group Inc. now owns 1,145 shares of the company’s stock valued at $91,000 after buying an additional 307 shares during the period. Evolution Wealth Advisors LLC lifted its holdings in shares of Global Blood Therapeutics by 1,383.3% in the fourth quarter. Evolution Wealth Advisors LLC now owns 356 shares of the company’s stock valued at $28,000 after buying an additional 332 shares during the period. Finally, Point72 Hong Kong Ltd lifted its holdings in shares of Global Blood Therapeutics by 3,290.9% in the fourth quarter. Point72 Hong Kong Ltd now owns 373 shares of the company’s stock valued at $30,000 after buying an additional 362 shares during the period. Institutional investors own 97.79% of the company’s stock.

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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