Global Blood Therapeutics (NASDAQ:GBT) Upgraded by BidaskClub to Sell

BidaskClub upgraded shares of Global Blood Therapeutics (NASDAQ:GBT) from a strong sell rating to a sell rating in a report published on Tuesday, BidAskClub reports.

Other analysts have also issued reports about the company. Canaccord Genuity reissued a hold rating on shares of Global Blood Therapeutics in a report on Thursday, June 25th. HC Wainwright reissued a buy rating and issued a $150.00 price objective on shares of Global Blood Therapeutics in a report on Thursday, June 25th. ValuEngine raised Global Blood Therapeutics from a hold rating to a buy rating in a report on Tuesday, March 3rd. Morgan Stanley raised their price objective on Global Blood Therapeutics from $70.00 to $75.00 and gave the company an equal weight rating in a report on Thursday, May 7th. Finally, Wells Fargo & Co reissued a buy rating on shares of Global Blood Therapeutics in a report on Friday, June 12th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $105.13.

Shares of GBT stock opened at $66.50 on Tuesday. The stock has a 50 day moving average of $67.93 and a 200 day moving average of $69.22. The company has a current ratio of 9.07, a quick ratio of 8.83 and a debt-to-equity ratio of 0.30. The stock has a market cap of $4.00 billion, a P/E ratio of -13.66 and a beta of 1.90. Global Blood Therapeutics has a twelve month low of $39.95 and a twelve month high of $87.54.

Global Blood Therapeutics (NASDAQ:GBT) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($1.20) earnings per share for the quarter, beating the consensus estimate of ($1.47) by $0.27. The company had revenue of $14.12 million for the quarter, compared to analysts’ expectations of $3.65 million. During the same quarter in the prior year, the business posted ($0.87) earnings per share. On average, research analysts predict that Global Blood Therapeutics will post -4.49 earnings per share for the current fiscal year.

In other Global Blood Therapeutics news, insider Lesley Ann Calhoun sold 381 shares of Global Blood Therapeutics stock in a transaction on Monday, May 11th. The stock was sold at an average price of $77.05, for a total value of $29,356.05. Following the sale, the insider now owns 3,146 shares in the company, valued at $242,399.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ted W. Love sold 2,817 shares of Global Blood Therapeutics stock in a transaction on Monday, April 27th. The shares were sold at an average price of $80.87, for a total value of $227,810.79. Following the completion of the sale, the insider now owns 1,076,150 shares in the company, valued at approximately $87,028,250.50. The disclosure for this sale can be found here. Insiders have sold 81,330 shares of company stock worth $6,120,196 in the last three months. 4.20% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of the business. State Street Corp raised its position in Global Blood Therapeutics by 1.4% in the first quarter. State Street Corp now owns 2,187,383 shares of the company’s stock valued at $111,753,000 after purchasing an additional 29,555 shares during the period. Royal Bank of Canada raised its position in Global Blood Therapeutics by 36.3% in the first quarter. Royal Bank of Canada now owns 59,586 shares of the company’s stock valued at $3,044,000 after purchasing an additional 15,877 shares during the period. Public Employees Retirement Association of Colorado raised its position in Global Blood Therapeutics by 68.9% in the first quarter. Public Employees Retirement Association of Colorado now owns 9,312 shares of the company’s stock valued at $476,000 after purchasing an additional 3,800 shares during the period. Morgan Stanley raised its position in Global Blood Therapeutics by 59.2% in the first quarter. Morgan Stanley now owns 401,851 shares of the company’s stock valued at $20,531,000 after purchasing an additional 149,473 shares during the period. Finally, Advisor Group Holdings Inc. purchased a new stake in Global Blood Therapeutics in the first quarter valued at $154,000.

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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