Global Blood Therapeutics (NASDAQ:GBT) had its price target lifted by equities researchers at SunTrust Banks to $90.00 in a report released on Tuesday, The Fly reports. The firm currently has a “positive” rating on the stock. SunTrust Banks’ price target would indicate a potential upside of 98.02% from the company’s previous close. SunTrust Banks also issued estimates for Global Blood Therapeutics’ FY2018 earnings at ($3.45) EPS, FY2020 earnings at ($3.41) EPS, FY2021 earnings at ($2.32) EPS and FY2022 earnings at ($0.23) EPS.
GBT has been the subject of several other reports. Cantor Fitzgerald set a $96.00 target price on Global Blood Therapeutics and gave the stock a “buy” rating in a report on Tuesday, October 2nd. BidaskClub cut Global Blood Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, September 19th. Zacks Investment Research cut Global Blood Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, October 4th. HC Wainwright reiterated a “buy” rating and issued a $150.00 price target on shares of Global Blood Therapeutics in a research note on Wednesday, November 28th. Finally, ValuEngine cut Global Blood Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $83.20.
Shares of GBT stock opened at $45.45 on Tuesday. Global Blood Therapeutics has a twelve month low of $30.15 and a twelve month high of $68.05. The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of -16.47 and a beta of 3.65.
Hedge funds have recently made changes to their positions in the company. Amalgamated Bank grew its holdings in Global Blood Therapeutics by 46.5% during the second quarter. Amalgamated Bank now owns 7,624 shares of the company’s stock worth $345,000 after acquiring an additional 2,420 shares during the period. Bainco International Investors acquired a new stake in Global Blood Therapeutics during the second quarter worth about $271,000. TD Asset Management Inc. grew its holdings in Global Blood Therapeutics by 5.4% during the second quarter. TD Asset Management Inc. now owns 50,661 shares of the company’s stock worth $2,290,000 after acquiring an additional 2,600 shares during the period. Los Angeles Capital Management & Equity Research Inc. grew its holdings in Global Blood Therapeutics by 935.8% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 72,300 shares of the company’s stock worth $3,268,000 after acquiring an additional 65,320 shares during the period. Finally, Alps Advisors Inc. grew its holdings in Global Blood Therapeutics by 21.1% during the second quarter. Alps Advisors Inc. now owns 74,716 shares of the company’s stock worth $3,377,000 after acquiring an additional 13,010 shares during the period.
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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