Global Blood Therapeutics (NASDAQ:GBT)‘s stock had its “outperform” rating reiterated by equities researchers at Wedbush in a report issued on Monday, December 4th. They currently have a $73.00 target price on the stock. Wedbush’s price objective indicates a potential upside of 85.51% from the company’s previous close. Wedbush also issued estimates for Global Blood Therapeutics’ Q4 2017 earnings at ($0.69) EPS, FY2017 earnings at ($2.51) EPS, FY2018 earnings at ($2.99) EPS, FY2019 earnings at ($3.77) EPS, FY2020 earnings at ($3.39) EPS and FY2021 earnings at ($1.56) EPS.
GBT has been the topic of several other reports. Oppenheimer set a $53.00 target price on Global Blood Therapeutics and gave the stock a “buy” rating in a report on Monday, October 30th. JPMorgan Chase & Co. restated a “buy” rating on shares of Global Blood Therapeutics in a report on Monday, October 23rd. BidaskClub cut Global Blood Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, September 14th. Zacks Investment Research upgraded Global Blood Therapeutics from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a report on Tuesday, October 10th. Finally, Needham & Company LLC assumed coverage on Global Blood Therapeutics in a report on Wednesday, September 20th. They set a “buy” rating and a $51.00 target price on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $62.07.
Global Blood Therapeutics (NASDAQ GBT) traded down $1.35 during trading hours on Monday, reaching $39.35. The company’s stock had a trading volume of 589,530 shares, compared to its average volume of 1,523,896. The stock has a market cap of $1,872.50, a price-to-earnings ratio of -15.43 and a beta of 4.24. Global Blood Therapeutics has a 52 week low of $13.60 and a 52 week high of $45.85.
In other news, major shareholder Perceptive Advisors Llc bought 175,000 shares of the business’s stock in a transaction on Tuesday, December 19th. The shares were bought at an average price of $38.00 per share, with a total value of $6,650,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Peter Radovich sold 12,500 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $35.00, for a total value of $437,500.00. Following the completion of the sale, the vice president now directly owns 2,684 shares in the company, valued at approximately $93,940. The disclosure for this sale can be found here. Insiders sold 88,500 shares of company stock worth $3,023,000 over the last quarter. 5.30% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Point72 Asset Management L.P. raised its position in Global Blood Therapeutics by 189.5% in the third quarter. Point72 Asset Management L.P. now owns 2,022,700 shares of the company’s stock valued at $62,805,000 after purchasing an additional 1,323,934 shares during the period. Perceptive Advisors LLC raised its position in Global Blood Therapeutics by 8.4% in the third quarter. Perceptive Advisors LLC now owns 4,264,066 shares of the company’s stock valued at $132,399,000 after purchasing an additional 330,139 shares during the period. Orbimed Advisors LLC raised its position in Global Blood Therapeutics by 10.2% in the third quarter. Orbimed Advisors LLC now owns 2,393,635 shares of the company’s stock valued at $74,322,000 after purchasing an additional 221,700 shares during the period. Janus Henderson Group PLC raised its position in Global Blood Therapeutics by 43.8% in the third quarter. Janus Henderson Group PLC now owns 1,415,558 shares of the company’s stock valued at $43,953,000 after purchasing an additional 431,325 shares during the period. Finally, Jane Street Group LLC purchased a new stake in Global Blood Therapeutics in the third quarter valued at approximately $200,000. 85.72% of the stock is currently owned by 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).
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