Global Blood Therapeutics, Inc. (NASDAQ:GBT) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Friday.

Several other analysts have also issued reports on the company. J P Morgan Chase & Co reaffirmed an “overweight” rating and issued a $46.00 target price (up previously from $44.00) on shares of Global Blood Therapeutics in a research note on Tuesday. Oppenheimer Holdings, Inc. assumed coverage on Global Blood Therapeutics in a research note on Friday, August 4th. They issued an “outperform” rating and a $53.00 target price for the company. Morgan Stanley reaffirmed an “overweight” rating on shares of Global Blood Therapeutics in a research note on Tuesday, July 11th. ValuEngine raised Global Blood Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $73.00 target price on shares of Global Blood Therapeutics in a research note on Tuesday, May 2nd. Two analysts have rated the stock with a sell rating, one has given a hold rating and twelve have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $50.75.

Global Blood Therapeutics (NASDAQ GBT) traded up 1.11% during midday trading on Friday, hitting $27.30. 129,935 shares of the stock were exchanged. The company’s 50 day moving average is $28.16 and its 200 day moving average is $28.64. The company’s market capitalization is $1.19 billion. Global Blood Therapeutics has a 1-year low of $13.35 and a 1-year high of $41.15.

Global Blood Therapeutics (NASDAQ:GBT) last issued its earnings results on Monday, August 7th. The company reported ($0.55) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.61) by $0.06. During the same period in the previous year, the business posted ($0.58) earnings per share. Analysts predict that Global Blood Therapeutics will post ($2.48) earnings per share for the current fiscal year.

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

Hedge funds have recently added to or reduced their stakes in the stock. ProShare Advisors LLC raised its stake in Global Blood Therapeutics by 17.5% in the second quarter. ProShare Advisors LLC now owns 25,649 shares of the company’s stock worth $702,000 after buying an additional 3,827 shares during the period. BlackRock Inc. raised its stake in Global Blood Therapeutics by 30.0% in the second quarter. BlackRock Inc. now owns 3,404,538 shares of the company’s stock worth $93,114,000 after buying an additional 785,691 shares during the period. Emory University bought a new stake in Global Blood Therapeutics during the second quarter worth $1,442,000. Nationwide Fund Advisors raised its stake in Global Blood Therapeutics by 96.3% in the second quarter. Nationwide Fund Advisors now owns 20,927 shares of the company’s stock worth $572,000 after buying an additional 10,266 shares during the period. Finally, TIAA CREF Investment Management LLC raised its stake in Global Blood Therapeutics by 95.3% in the second quarter. TIAA CREF Investment Management LLC now owns 255,045 shares of the company’s stock worth $6,975,000 after buying an additional 124,439 shares during the period. 72.29% of the stock is owned by hedge funds and other institutional investors.

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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