Zacks Investment Research upgraded shares of Global Blood Therapeutics (NASDAQ:GBT) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning.
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. “
Other equities research analysts have also recently issued research reports about the company. Oppenheimer set a $53.00 target price on Global Blood Therapeutics and gave the stock a buy rating in a research note on Monday, October 23rd. BidaskClub raised Global Blood Therapeutics from a sell rating to a hold rating in a research note on Thursday, August 17th. Cowen reissued an outperform rating and issued a $83.00 price objective on shares of Global Blood Therapeutics in a research note on Monday, August 14th. Wedbush reissued an ourperform rating and issued a $73.00 price objective on shares of Global Blood Therapeutics in a research note on Monday, September 18th. Finally, ValuEngine lowered Global Blood Therapeutics from a hold rating to a sell rating in a report on Friday, December 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have assigned a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $56.38.
Shares of Global Blood Therapeutics (NASDAQ GBT) traded up $0.30 during mid-day trading on Wednesday, hitting $40.30. The stock had a trading volume of 492,600 shares, compared to its average volume of 987,263. Global Blood Therapeutics has a 12 month low of $13.35 and a 12 month high of $43.95.
Global Blood Therapeutics (NASDAQ:GBT) last issued its quarterly earnings results on Thursday, November 2nd. The company reported ($0.66) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($0.04). During the same quarter in the prior year, the business earned ($0.58) earnings per share. sell-side analysts expect that Global Blood Therapeutics will post -2.55 EPS for the current year.
In related news, Director Charles J. Homcy sold 70,000 shares of the company’s stock in a transaction that occurred on 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 owns 83,328 shares in the company, valued at approximately $2,830,652.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Peter Radovich sold 12,500 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The stock was 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 owns 2,684 shares in the company, valued at approximately $93,940. The disclosure for this sale can be found here. In the last three months, insiders sold 88,500 shares of company stock valued at $3,003,350. 5.30% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the business. Parametric Portfolio Associates LLC grew its position 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 valued at $846,000 after purchasing an additional 284 shares in the last quarter. Legal & General Group Plc grew its position in Global Blood Therapeutics by 10.1% in the first quarter. Legal & General Group Plc now owns 4,816 shares of the company’s stock worth $178,000 after acquiring an additional 440 shares in the last quarter. Fiduciary Trust Co. grew its position in Global Blood Therapeutics by 7.8% in the third quarter. Fiduciary Trust Co. now owns 23,580 shares of the company’s stock worth $732,000 after acquiring an additional 1,701 shares in the last quarter. American International Group Inc. grew its position in Global Blood Therapeutics by 8.1% in the third quarter. American International Group Inc. now owns 24,752 shares of the company’s stock worth $769,000 after acquiring an additional 1,850 shares in the last quarter. Finally, Alps Advisors Inc. grew its position in Global Blood Therapeutics by 7.9% in the second quarter. Alps Advisors Inc. now owns 39,366 shares of the company’s stock worth $1,077,000 after acquiring an additional 2,874 shares in the last quarter. Institutional investors and hedge funds own 90.48% of the company’s stock.
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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