Global Blood Therapeutics (GBT) Price Target Raised to $90.00

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.



Global Blood Therapeutics (NASDAQ:GBT) last issued its earnings results on Tuesday, November 6th. The company reported ($0.83) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.85) by $0.02. During the same period in the previous year, the firm earned ($0.66) earnings per share. As a group, sell-side analysts predict that Global Blood Therapeutics will post -3.36 earnings per share for the current fiscal year.

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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