Global Blood Therapeutics (NASDAQ:GBT) Given a $74.00 Price Target at Wedbush

Wedbush set a $74.00 price objective on Global Blood Therapeutics (NASDAQ:GBTGet Rating) in a research note published on Monday, Stock Target Advisor reports.

Several other research analysts also recently commented on the stock. Oppenheimer dropped their target price on shares of Global Blood Therapeutics from $86.00 to $71.00 in a report on Thursday, May 5th. Morgan Stanley lifted their price objective on Global Blood Therapeutics from $28.00 to $31.00 and gave the stock an equal weight rating in a research note on Monday, February 28th. Cantor Fitzgerald started coverage on Global Blood Therapeutics in a research report on Thursday, April 28th. They set a buy rating and a $75.00 price objective for the company. Cowen lowered their target price on Global Blood Therapeutics from $72.00 to $67.00 in a report on Thursday, February 24th. Finally, HC Wainwright reaffirmed a buy rating and issued a $75.00 price target on shares of Global Blood Therapeutics in a research report on Thursday, February 24th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $58.67.

GBT stock opened at $28.74 on Monday. The company has a current ratio of 8.52, a quick ratio of 7.74 and a debt-to-equity ratio of 4.34. Global Blood Therapeutics has a 1 year low of $21.65 and a 1 year high of $40.69. The company has a fifty day simple moving average of $27.86 and a 200 day simple moving average of $29.57. The firm has a market cap of $1.87 billion, a PE ratio of -5.90 and a beta of 1.11.

Global Blood Therapeutics (NASDAQ:GBTGet Rating) last announced its earnings results on Wednesday, May 4th. The company reported ($1.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.29) by $0.03. Global Blood Therapeutics had a negative return on equity of 129.74% and a negative net margin of 146.82%. The firm had revenue of $55.20 million during the quarter, compared to analysts’ expectations of $56.13 million. During the same quarter in the prior year, the business earned ($1.21) earnings per share. The company’s revenue was up 41.5% on a year-over-year basis. As a group, analysts forecast that Global Blood Therapeutics will post -4.64 EPS for the current fiscal year.

In other Global Blood Therapeutics news, Director Philip A. Pizzo sold 1,260 shares of the firm’s stock in a transaction that occurred on Tuesday, June 21st. The stock was sold at an average price of $27.25, for a total value of $34,335.00. Following the completion of the sale, the director now owns 9,112 shares in the company, valued at approximately $248,302. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.70% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in the company. Thrivent Financial for Lutherans lifted its stake in Global Blood Therapeutics by 0.6% in the third quarter. Thrivent Financial for Lutherans now owns 53,267 shares of the company’s stock valued at $1,357,000 after buying an additional 329 shares in the last quarter. Advisor Group Holdings Inc. raised its stake in shares of Global Blood Therapeutics by 31.8% in the 4th quarter. Advisor Group Holdings Inc. now owns 1,865 shares of the company’s stock valued at $55,000 after purchasing an additional 450 shares during the period. Endurant Capital Management LP raised its stake in shares of Global Blood Therapeutics by 1.1% in the 1st quarter. Endurant Capital Management LP now owns 43,250 shares of the company’s stock valued at $1,498,000 after purchasing an additional 453 shares during the period. New York State Common Retirement Fund raised its stake in shares of Global Blood Therapeutics by 1.1% in the 1st quarter. New York State Common Retirement Fund now owns 43,552 shares of the company’s stock valued at $1,509,000 after purchasing an additional 482 shares during the period. Finally, Arizona State Retirement System raised its stake in shares of Global Blood Therapeutics by 3.7% in the 1st quarter. Arizona State Retirement System now owns 15,678 shares of the company’s stock valued at $543,000 after purchasing an additional 560 shares during the period.

Global Blood Therapeutics Company Profile (Get Rating)

Global Blood Therapeutics, Inc, a biopharmaceutical company, engages in the discovery, development, and delivery of treatments for underserved patient communities with sickle cell disease (SCD). The company offers Oxbryta tablets, an oral, once-daily therapy for SCD. It also evaluates the safety and pharmacokinetics of single and multiple doses of Oxbryta in a Phase II a clinical trial of adolescent and pediatric patients with SCD.

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Analyst Recommendations for Global Blood Therapeutics (NASDAQ:GBT)

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