Global Blood Therapeutics (NASDAQ:GBT) Downgraded to “Hold” at ValuEngine

ValuEngine downgraded shares of Global Blood Therapeutics (NASDAQ:GBT) from a buy rating to a hold rating in a research note released on Tuesday, ValuEngine reports.

A number of other equities research analysts also recently issued reports on GBT. Wedbush reissued a buy rating and set a $143.00 price target on shares of Global Blood Therapeutics in a research report on Tuesday, November 26th. Cowen set a $83.00 price objective on Global Blood Therapeutics and gave the stock a buy rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. reaffirmed a buy rating on shares of Global Blood Therapeutics in a research note on Thursday, September 5th. BidaskClub raised Global Blood Therapeutics from a hold rating to a buy rating in a research note on Thursday, November 28th. Finally, Morgan Stanley set a $60.00 target price on Global Blood Therapeutics and gave the stock a hold rating in a report on Friday, August 9th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Global Blood Therapeutics presently has a consensus rating of Buy and a consensus price target of $91.44.

Shares of NASDAQ GBT opened at $72.49 on Tuesday. Global Blood Therapeutics has a 52-week low of $34.92 and a 52-week high of $73.23. The firm has a fifty day moving average of $53.03 and a 200-day moving average of $53.44. The stock has a market capitalization of $4.37 billion, a PE ratio of -21.26 and a beta of 1.70. The company has a quick ratio of 14.95, a current ratio of 14.95 and a debt-to-equity ratio of 0.04.

Global Blood Therapeutics (NASDAQ:GBT) last released its quarterly earnings data on Thursday, November 7th. The company reported ($1.07) EPS for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.04). During the same period last year, the business posted ($0.83) earnings per share. Equities research analysts expect that Global Blood Therapeutics will post -4.16 EPS for the current fiscal year.

In other news, insider Lesley Ann Calhoun sold 2,765 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $54.36, for a total value of $150,305.40. Following the completion of the sale, the insider now owns 887 shares in the company, valued at $48,217.32. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Tricia Borga Suvari sold 3,249 shares of the firm’s 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 sale, the insider now owns 13,513 shares in the company, valued at $658,083.10. The disclosure for this sale can be found here. Insiders sold 36,616 shares of company stock valued at $2,096,540 in the last ninety days. Company insiders own 4.30% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Prudential Financial Inc. raised its stake in shares of Global Blood Therapeutics by 11.1% during the second quarter. Prudential Financial Inc. now owns 5,623 shares of the company’s stock valued at $296,000 after purchasing an additional 560 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of Global Blood Therapeutics by 56.3% in the second 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 during the period. Quest Capital Management Inc. ADV purchased a new position in shares of Global Blood Therapeutics in the third quarter valued at $26,000. Taylor Wealth Management Partners boosted its stake in shares of Global Blood Therapeutics by 2.1% in the third quarter. Taylor Wealth Management Partners now owns 45,726 shares of the company’s stock valued at $2,219,000 after purchasing an additional 925 shares during the period. Finally, Pictet Asset Management Ltd. grew its holdings in Global Blood Therapeutics by 22.9% during the 3rd quarter. Pictet Asset Management Ltd. now owns 539,510 shares of the company’s stock valued at $26,177,000 after purchasing an additional 100,653 shares in the last quarter. Hedge funds and other institutional investors own 98.78% 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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Analyst Recommendations for Global Blood Therapeutics (NASDAQ:GBT)

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