Global Blood Therapeutics (NASDAQ:GBT) Stock Rating Reaffirmed by Cantor Fitzgerald

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Cantor Fitzgerald reissued their overweight rating on shares of Global Blood Therapeutics (NASDAQ:GBT) in a report published on Thursday morning, Zacks.com reports.

A number of other research analysts also recently issued reports on the stock. JPMorgan Chase & Co. reaffirmed a buy rating on shares of Global Blood Therapeutics in a research report on Thursday, September 5th. BidaskClub raised shares of Global Blood Therapeutics from a sell rating to a hold rating in a research report on Friday. Wells Fargo & Co lifted their price objective on shares of Global Blood Therapeutics from $96.00 to $104.00 and gave the stock an outperform rating in a research report on Wednesday, October 9th. SunTrust Banks lifted their price objective on shares of Global Blood Therapeutics to $100.00 and gave the stock a buy rating in a research report on Monday, October 14th. Finally, ValuEngine downgraded shares of Global Blood Therapeutics from a buy rating to a hold rating in a research report on Wednesday, October 2nd. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $91.25.

NASDAQ:GBT opened at $48.23 on Thursday. Global Blood Therapeutics has a one year low of $30.15 and a one year high of $64.94. The company has a debt-to-equity ratio of 0.03, a quick ratio of 16.79 and a current ratio of 16.79. The firm has a market cap of $2.97 billion, a P/E ratio of -14.14 and a beta of 1.58. The firm has a 50-day simple moving average of $49.86 and a 200-day simple moving average of $54.15.

Global Blood Therapeutics (NASDAQ:GBT) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($1.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.05). During the same period in the previous year, the firm earned ($0.78) EPS. On average, research analysts predict that Global Blood Therapeutics will post -3.99 EPS for the current fiscal year.

In other Global Blood Therapeutics news, Director Deval L. Patrick sold 5,357 shares of the business’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $45.05, for a total transaction of $241,332.85. Following the sale, the director now owns 5,357 shares of the company’s stock, valued at approximately $241,332.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Tricia Borga Suvari sold 3,249 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $48.70, for a total transaction of $158,226.30. Following the sale, the insider now directly owns 13,513 shares in the company, valued at approximately $658,083.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,371 shares of company stock worth $549,865. 4.30% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Global Blood Therapeutics by 16.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,814 shares of the company’s stock worth $185,000 after buying an additional 549 shares in the last quarter. Profit Investment Management LLC purchased a new stake in shares of Global Blood Therapeutics during the third quarter worth $1,270,000. Nisa Investment Advisors LLC grew its holdings in shares of Global Blood Therapeutics by 24.9% during the third quarter. Nisa Investment Advisors LLC now owns 10,675 shares of the company’s stock worth $518,000 after buying an additional 2,130 shares in the last quarter. Taylor Wealth Management Partners grew its holdings in shares of Global Blood Therapeutics by 2.1% during the third quarter. Taylor Wealth Management Partners now owns 45,726 shares of the company’s stock worth $2,219,000 after buying an additional 925 shares in the last quarter. Finally, Truvestments Capital LLC grew its holdings in shares of Global Blood Therapeutics by 48.0% during the third quarter. Truvestments Capital LLC now owns 925 shares of the company’s stock worth $45,000 after buying an additional 300 shares in the last quarter. Institutional investors and hedge funds own 97.99% of the company’s stock.

About Global Blood Therapeutics

Global Blood Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and delivery of treatments for underserved patient communities. It is developing its lead product candidate, voxelotor, an oral, once-daily therapy for sickle cell disease (SCD). The company is evaluating voxelotor in SCD in a Phase III clinical trial in adult and adolescent patients with SCD.

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Analyst Recommendations for Global Blood Therapeutics (NASDAQ:GBT)

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