StockNews.com Initiates Coverage on Global Blood Therapeutics (NASDAQ:GBT)

StockNews.com started coverage on shares of Global Blood Therapeutics (NASDAQ:GBTGet Rating) in a research report report published on Monday. The brokerage issued a hold rating on the stock.

GBT has been the topic of several other reports. Cantor Fitzgerald reissued a neutral rating on shares of Global Blood Therapeutics in a research report on Wednesday, September 21st. Wedbush lowered Global Blood Therapeutics to a neutral rating in a research report on Monday, August 15th. Cowen downgraded Global Blood Therapeutics to a market perform rating and boosted their price target for the company from $67.00 to $68.50 in a research report on Tuesday, August 9th. Wells Fargo & Company downgraded Global Blood Therapeutics from an overweight rating to an equal weight rating and raised their price objective for the stock from $66.00 to $68.50 in a report on Tuesday, August 9th. Finally, Oppenheimer cut Global Blood Therapeutics to a market perform rating in a report on Monday, August 15th. Twelve research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Global Blood Therapeutics presently has a consensus rating of Hold and an average price target of $65.42.

Global Blood Therapeutics Price Performance

Shares of NASDAQ:GBT opened at $68.49 on Monday. The company has a market cap of $4.62 billion, a P/E ratio of -13.67 and a beta of 0.45. The business has a fifty day simple moving average of $68.37 and a 200-day simple moving average of $50.85. Global Blood Therapeutics has a 52 week low of $21.65 and a 52 week high of $73.02. The company has a quick ratio of 6.17, a current ratio of 6.88 and a debt-to-equity ratio of 4.92.

Institutional Trading of Global Blood Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of GBT. Nisa Investment Advisors LLC increased its holdings in Global Blood Therapeutics by 75.6% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,510 shares of the company’s stock worth $52,000 after purchasing an additional 650 shares during the last quarter. Arizona State Retirement System increased its stake in shares of Global Blood Therapeutics by 3.7% in the first quarter. Arizona State Retirement System now owns 15,678 shares of the company’s stock worth $543,000 after buying an additional 560 shares during the last quarter. Banque Pictet & Cie SA raised its holdings in Global Blood Therapeutics by 4.0% in the first quarter. Banque Pictet & Cie SA now owns 45,935 shares of the company’s stock valued at $1,591,000 after acquiring an additional 1,777 shares in the last quarter. New York State Common Retirement Fund boosted its stake in Global Blood Therapeutics by 1.1% during the 1st quarter. New York State Common Retirement Fund now owns 43,552 shares of the company’s stock valued at $1,509,000 after acquiring an additional 482 shares during the last quarter. Finally, Rice Hall James & Associates LLC grew its holdings in Global Blood Therapeutics by 2.2% during the 1st quarter. Rice Hall James & Associates LLC now owns 383,752 shares of the company’s stock worth $13,293,000 after acquiring an additional 8,234 shares in the last quarter.

About Global Blood Therapeutics

(Get Rating)

Global Blood Therapeutics, Inc, a biopharmaceutical company, engages in the discovery, development, and delivery of treatments for underserved patient communities with sickle cell disease (SCD). The company offers Oxbryta tablets, an oral, once-daily therapy for SCD. It also evaluates the safety and pharmacokinetics of single and multiple doses of Oxbryta in a Phase II a clinical trial of adolescent and pediatric patients with SCD.

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