Investment analysts at Oppenheimer Holdings, Inc. started coverage on shares of Global Blood Therapeutics, Inc. (NASDAQ:GBT) in a research report issued on Friday. The brokerage set an “outperform” rating and a $53.00 price target on the stock. Oppenheimer Holdings, Inc.’s price target points to a potential upside of 83.71% from the stock’s current price.

A number of other research analysts have also commented on GBT. ValuEngine upgraded shares of Global Blood Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. BidaskClub lowered shares of Global Blood Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Janney Montgomery Scott assumed coverage on shares of Global Blood Therapeutics in a research note on Monday, May 1st. They issued a “buy” rating and a $37.00 price objective on the stock. Morgan Stanley restated an “overweight” rating on shares of Global Blood Therapeutics in a research note on Tuesday, July 11th. Finally, Wedbush restated an “outperform” rating and issued a $73.00 price objective on shares of Global Blood Therapeutics in a research note on Tuesday, May 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have issued a buy rating to the company. Global Blood Therapeutics presently has an average rating of “Buy” and a consensus price target of $50.59.

Shares of Global Blood Therapeutics (GBT) traded down 2.04% during midday trading on Friday, reaching $28.85. The company’s stock had a trading volume of 651,517 shares. Global Blood Therapeutics has a 52 week low of $13.35 and a 52 week high of $41.15. The stock’s market capitalization is $1.26 billion. The company has a 50 day moving average of $28.28 and a 200-day moving average of $28.34.

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In other news, Director Deval L. Patrick sold 27,053 shares of the business’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $29.69, for a total transaction of $803,203.57. Following the transaction, the director now directly owns 12,053 shares in the company, valued at $357,853.57. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jung Choi sold 3,000 shares of the business’s stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $30.00, for a total transaction of $90,000.00. Following the transaction, the insider now owns 143,255 shares in the company, valued at $4,297,650. The disclosure for this sale can be found here. Insiders own 5.30% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Legal & General Group Plc raised its position in shares of Global Blood Therapeutics by 10.1% in the first quarter. Legal & General Group Plc now owns 4,816 shares of the company’s stock valued at $178,000 after buying an additional 440 shares during the last quarter. American International Group Inc. raised its position in shares of Global Blood Therapeutics by 24.1% in the first quarter. American International Group Inc. now owns 10,031 shares of the company’s stock valued at $370,000 after buying an additional 1,945 shares during the last quarter. Alps Advisors Inc. raised its position in shares of Global Blood Therapeutics by 7.9% in the second quarter. Alps Advisors Inc. now owns 39,366 shares of the company’s stock valued at $1,077,000 after buying an additional 2,874 shares during the last quarter. Daiwa SB Investments Ltd. bought a new position in shares of Global Blood Therapeutics during the first quarter valued at $120,000. Finally, Asset Management One Co. Ltd. bought a new position in shares of Global Blood Therapeutics during the first quarter valued at $130,000. Institutional investors own 72.29% of the company’s stock.

Global Blood Therapeutics Company Profile

Global Blood Therapeutics, Inc is a clinical-stage biopharmaceutical company. The Company is engaged in discovering, developing and commercializing therapeutics to treat blood-based disorders. The Company is developing its initial product candidate, GBT440, as an oral, once-daily therapy for sickle cell disease (SCD).

Analyst Recommendations for Global Blood Therapeutics (NASDAQ:GBT)

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