Cowen and Company reiterated their buy rating on shares of Global Blood Therapeutics, Inc. (NASDAQ:GBT) in a research report sent to investors on Thursday morning. They currently have a $83.00 target price on the stock.

“GBT reported Q3 earnings last week and provided a brief summary of their progress.”,” the firm’s analyst wrote.

Several other research firms have also recently issued reports on GBT. Wedbush reiterated an ourperform rating and issued a $73.00 target price on shares of Global Blood Therapeutics in a research note on Monday, September 18th. BidaskClub raised shares of Global Blood Therapeutics from a sell rating to a hold rating in a report on Thursday, August 17th. Zacks Investment Research lowered shares of Global Blood Therapeutics from a buy rating to a hold rating in a report on Monday, October 16th. J P Morgan Chase & Co reissued an overweight rating and issued a $46.00 price target (up previously from $44.00) on shares of Global Blood Therapeutics in a report on Tuesday, August 8th. Finally, SunTrust Banks, Inc. boosted their price target on shares of Global Blood Therapeutics to $67.00 and gave the stock a buy rating in a report on Monday, November 6th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have assigned a buy rating to the company’s stock. Global Blood Therapeutics currently has a consensus rating of Buy and a consensus target price of $55.00.

Global Blood Therapeutics (NASDAQ GBT) traded down $0.70 on Thursday, hitting $38.45. 466,200 shares of the company traded hands, compared to its average volume of 1,122,587. Global Blood Therapeutics has a 1 year low of $13.35 and a 1 year high of $43.95.

Global Blood Therapeutics (NASDAQ:GBT) last posted its earnings results on Thursday, November 2nd. The company reported ($0.66) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.62) by ($0.04). During the same quarter in the previous year, the business posted ($0.58) EPS. research analysts anticipate that Global Blood Therapeutics will post -2.49 earnings per share for the current year.

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In other news, VP Peter Radovich sold 12,500 shares of the company’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $35.00, for a total transaction of $437,500.00. Following the completion of the sale, the vice president now owns 2,684 shares of the company’s stock, valued at $93,940. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jung Choi sold 3,000 shares of the company’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $30.00, for a total transaction of $90,000.00. Following the sale, the insider now directly owns 140,055 shares of the company’s stock, valued at approximately $4,201,650. The disclosure for this sale can be found here. Insiders have sold 91,500 shares of company stock valued at $3,093,350 in the last ninety days. Insiders own 5.30% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Parametric Portfolio Associates LLC grew its holdings in shares of Global Blood Therapeutics by 0.9% during the second quarter. Parametric Portfolio Associates LLC now owns 30,943 shares of the company’s stock worth $846,000 after buying an additional 284 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Global Blood Therapeutics by 10.1% during the first quarter. Legal & General Group Plc now owns 4,816 shares of the company’s stock worth $178,000 after buying an additional 440 shares in the last quarter. Fiduciary Trust Co. grew its holdings in shares of Global Blood Therapeutics by 7.8% in the third quarter. Fiduciary Trust Co. now owns 23,580 shares of the company’s stock valued at $732,000 after purchasing an additional 1,701 shares during the period. American International Group Inc. grew its holdings in shares of Global Blood Therapeutics by 8.1% in the third quarter. American International Group Inc. now owns 24,752 shares of the company’s stock valued at $769,000 after purchasing an additional 1,850 shares during the period. Finally, Alps Advisors Inc. grew its holdings 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 purchasing an additional 2,874 shares during the period. 86.19% of the stock is owned by institutional investors and hedge funds.

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)

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