Global Blood Therapeutics, Inc. (NASDAQ:GBT) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

Other research analysts also recently issued research reports about the stock. ValuEngine raised shares of Global Blood Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Oppenheimer Holdings, Inc. began coverage on shares of Global Blood Therapeutics in a report on Friday, August 4th. They set an “outperform” rating and a $53.00 target price on the stock. Cowen and Company reiterated an “outperform” rating and set a $83.00 target price on shares of Global Blood Therapeutics in a report on Monday, August 14th. J P Morgan Chase & Co reiterated an “overweight” rating and set a $46.00 target price (up from $44.00) on shares of Global Blood Therapeutics in a report on Tuesday, August 8th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Global Blood Therapeutics in a report on Tuesday, July 11th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $49.73.

Global Blood Therapeutics (NASDAQ GBT) traded down 0.57% during midday trading on Thursday, reaching $26.30. 47,276 shares of the company traded hands. Global Blood Therapeutics has a one year low of $13.35 and a one year high of $41.15. The stock’s market capitalization is $1.15 billion. The company has a 50 day moving average price of $27.84 and a 200-day moving average price of $30.08.

Global Blood Therapeutics (NASDAQ:GBT) last posted its quarterly earnings results on Monday, August 7th. The company reported ($0.55) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.61) by $0.06. During the same quarter in the previous year, the company posted ($0.58) earnings per share. Analysts forecast that Global Blood Therapeutics will post ($2.45) EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: This news story was originally posted by Daily Political and is owned by of Daily Political. If you are reading this news story on another domain, it was illegally copied and republished in violation of U.S. & international trademark and copyright law. The legal version of this news story can be accessed at https://www.dailypolitical.com/2017/09/14/global-blood-therapeutics-inc-gbt-lowered-to-sell-at-bidaskclub.html.

In other news, Director Deval L. Patrick sold 27,053 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $357,853.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jung Choi sold 3,000 shares of the firm’s stock in a transaction dated Friday, July 21st. The shares were 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 in the company, valued at $4,297,650. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,053 shares of company stock worth $983,204. 5.30% of the stock is owned by company insiders.

Several large investors have recently added to or reduced their stakes in the company. FMR LLC boosted its holdings in shares of Global Blood Therapeutics by 2.9% in the 1st quarter. FMR LLC now owns 5,759,471 shares of the company’s stock valued at $212,236,000 after buying an additional 162,004 shares in the last quarter. Perceptive Advisors LLC boosted its holdings in shares of Global Blood Therapeutics by 23.3% in the 1st quarter. Perceptive Advisors LLC now owns 3,858,978 shares of the company’s stock valued at $142,203,000 after buying an additional 730,000 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Global Blood Therapeutics by 30.0% in the 2nd quarter. BlackRock Inc. now owns 3,404,538 shares of the company’s stock valued at $93,114,000 after buying an additional 785,691 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Global Blood Therapeutics by 15.7% in the 2nd quarter. Vanguard Group Inc. now owns 2,933,251 shares of the company’s stock valued at $80,224,000 after buying an additional 397,271 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Global Blood Therapeutics by 10.8% in the 1st quarter. Wellington Management Group LLP now owns 2,321,123 shares of the company’s stock valued at $85,534,000 after buying an additional 225,994 shares in the last quarter. Institutional investors and hedge funds own 86.07% of the company’s stock.

About Global Blood Therapeutics

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)

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.