Global Blood Therapeutics (NASDAQ:GBT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

According to Zacks, “Global Blood Therapeutics, Inc. is a biopharmaceutical company which is engaged in discovering, developing and commercializing novel therapeutics to treat grievous blood-based disorders. Its product candidate consists of GBT440 is an oral, once-daily prophylactic therapy for sickle cell disease which is in clinical trial. The company in addition to GBT is involved in research and development activities targeted hypoxemic pulmonary disorders, including idiopathic pulmonary fibrosis and hereditary angioedema. Global Blood Therapeutics, Inc. is based in South San Francisco, California. “

A number of other research firms have also recently issued reports on GBT. ValuEngine cut Global Blood Therapeutics from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Wedbush reaffirmed an “outperform” rating and issued a $73.00 price target on shares of Global Blood Therapeutics in a report on Monday. SunTrust Banks lifted their price target on Global Blood Therapeutics to $67.00 and gave the company a “buy” rating in a report on Monday, November 6th. BidaskClub raised Global Blood Therapeutics from a “hold” rating to a “buy” rating in a report on Wednesday, November 1st. Finally, HC Wainwright assumed coverage on Global Blood Therapeutics in a report on Friday, December 1st. They issued a “buy” rating and a $73.00 price target for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $56.38.

Global Blood Therapeutics (GBT) opened at $43.85 on Wednesday. Global Blood Therapeutics has a twelve month low of $13.35 and a twelve month high of $44.30.

Global Blood Therapeutics (NASDAQ:GBT) last issued its quarterly earnings data on Thursday, November 2nd. The company reported ($0.66) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.62) by ($0.04). During the same quarter in the prior year, the company earned ($0.58) earnings per share. equities analysts forecast that Global Blood Therapeutics will post -2.55 EPS for the current year.

In other Global Blood Therapeutics news, insider Jung Choi sold 3,000 shares of the business’s stock in a transaction dated Tuesday, October 17th. The stock was sold at an average price of $32.65, for a total transaction of $97,950.00. Following the completion of the sale, the insider now directly owns 138,455 shares of the company’s stock, valued at approximately $4,520,555.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles J. Homcy sold 70,000 shares of the business’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $33.97, for a total value of $2,377,900.00. Following the sale, the director now directly owns 83,328 shares of the company’s stock, valued at $2,830,652.16. The disclosure for this sale can be found here. Insiders have sold a total of 88,500 shares of company stock valued at $3,003,350 over the last three months. Company insiders own 5.30% of the company’s stock.

A number of large investors have recently made changes to their positions in GBT. Point72 Asset Management L.P. grew its position in shares of Global Blood Therapeutics by 189.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,022,700 shares of the company’s stock worth $62,805,000 after buying an additional 1,323,934 shares during the period. Perceptive Advisors LLC grew its position in shares of Global Blood Therapeutics by 8.4% during the 3rd quarter. Perceptive Advisors LLC now owns 4,264,066 shares of the company’s stock worth $132,399,000 after buying an additional 330,139 shares during the period. Orbimed Advisors LLC grew its position in shares of Global Blood Therapeutics by 10.2% during the 3rd quarter. Orbimed Advisors LLC now owns 2,393,635 shares of the company’s stock worth $74,322,000 after buying an additional 221,700 shares during the period. Janus Henderson Group PLC grew its position in shares of Global Blood Therapeutics by 43.8% during the 3rd quarter. Janus Henderson Group PLC now owns 1,415,558 shares of the company’s stock worth $43,953,000 after buying an additional 431,325 shares during the period. Finally, Jane Street Group LLC acquired a new position in shares of Global Blood Therapeutics during the 3rd quarter worth about $200,000. 90.48% of the stock is owned by hedge funds and other institutional investors.

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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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