Global Blood Therapeutics (NASDAQ:GBT) Price Target Raised to $104.00 at Wells Fargo & Co

Global Blood Therapeutics (NASDAQ:GBT) had its price target lifted by Wells Fargo & Co from $96.00 to $104.00 in a research note released on Wednesday, The Fly reports. They currently have an outperform rating on the stock.

Other analysts have also recently issued research reports about the company. JPMorgan Chase & Co. reaffirmed a buy rating on shares of Global Blood Therapeutics in a research report on Thursday, September 5th. ValuEngine cut Global Blood Therapeutics from a buy rating to a hold rating in a research report on Wednesday, October 2nd. Morgan Stanley set a $60.00 price target on Global Blood Therapeutics and gave the stock a hold rating in a research report on Friday, August 9th. Cowen set a $83.00 price target on Global Blood Therapeutics and gave the stock a buy rating in a research report on Thursday, September 5th. Finally, BidaskClub cut Global Blood Therapeutics from a hold rating to a sell rating in a research report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $90.42.

GBT traded up $0.56 on Wednesday, reaching $46.53. 930,883 shares of the stock were exchanged, compared to its average volume of 781,552. The company’s 50-day moving average price is $49.66 and its 200 day moving average price is $54.28. Global Blood Therapeutics has a fifty-two week low of $30.15 and a fifty-two week high of $64.94. The company has a debt-to-equity ratio of 0.03, a quick ratio of 16.79 and a current ratio of 16.79.

Global Blood Therapeutics (NASDAQ:GBT) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($1.01) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.96) by ($0.05). During the same period in the prior year, the business earned ($0.78) earnings per share. As a group, research analysts predict that Global Blood Therapeutics will post -4 EPS for the current year.

In other Global Blood Therapeutics news, Director Deval L. Patrick sold 5,357 shares of Global Blood Therapeutics stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $45.05, for a total transaction of $241,332.85. Following the completion of the transaction, the director now owns 5,357 shares in the company, valued at approximately $241,332.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Tricia Borga Suvari sold 3,249 shares of Global Blood Therapeutics stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $48.70, for a total value of $158,226.30. Following the transaction, the insider now owns 13,513 shares of the company’s stock, valued at approximately $658,083.10. The disclosure for this sale can be found here. Insiders have sold a total of 11,371 shares of company stock valued at $549,865 in the last quarter. Company insiders own 4.30% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Prudential Financial Inc. increased its stake in shares of Global Blood Therapeutics by 11.1% in the 2nd quarter. Prudential Financial Inc. now owns 5,623 shares of the company’s stock valued at $296,000 after purchasing an additional 560 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Global Blood Therapeutics by 56.3% in the 2nd quarter. Janney Montgomery Scott LLC now owns 7,590 shares of the company’s stock valued at $399,000 after purchasing an additional 2,735 shares in the last quarter. Advisor Group Inc. increased its stake in shares of Global Blood Therapeutics by 1,307.9% in the 2nd quarter. Advisor Group Inc. now owns 11,404 shares of the company’s stock valued at $600,000 after purchasing an additional 10,594 shares in the last quarter. Rice Hall James & Associates LLC purchased a new position in shares of Global Blood Therapeutics in the 2nd quarter valued at about $7,318,000. Finally, FMR LLC increased its stake in shares of Global Blood Therapeutics by 1.1% in the 1st quarter. FMR LLC now owns 8,417,709 shares of the company’s stock valued at $445,549,000 after purchasing an additional 88,310 shares in the last quarter. Hedge funds and other institutional investors own 97.99% of the company’s stock.

About Global Blood Therapeutics

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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