Global Blood Therapeutics, Inc. (GBT) Lowered to Sell at BidaskClub
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.
WARNING: This piece of content was originally published by Daily Political and is the property of of Daily Political. If you are viewing this piece of content on another publication, it was illegally stolen and republished in violation of US & international trademark & copyright legislation. The original version of this piece of content can be viewed at https://www.dailypolitical.com/2017/08/11/global-blood-therapeutics-inc-gbt-lowered-to-sell-at-bidaskclub.html.
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).
Receive News & Ratings for Global Blood Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Blood Therapeutics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.