Global Blood Therapeutics (GBT) Earns Buy Rating from Analysts at Janney Montgomery Scott

Janney Montgomery Scott initiated coverage on shares of Global Blood Therapeutics (NASDAQ:GBT) in a research report released on Tuesday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $75.00 target price on the stock.

A number of other research firms have also weighed in on GBT. Wedbush reissued an outperform rating and issued a $73.00 target price on shares of Global Blood Therapeutics in a report on Monday, December 4th. BidaskClub raised shares of Global Blood Therapeutics from a buy rating to a strong-buy rating in a report on Tuesday, December 12th. HC Wainwright set a $73.00 target price on shares of Global Blood Therapeutics and gave the company a buy rating in a report on Monday, December 11th. Oppenheimer set a $53.00 target price on shares of Global Blood Therapeutics and gave the company a buy rating in a report on Monday, November 13th. Finally, Nomura raised their target price on shares of Global Blood Therapeutics to $91.00 and gave the company a buy rating in a report on Monday, December 11th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Global Blood Therapeutics currently has an average rating of Buy and a consensus price target of $65.80.

Global Blood Therapeutics (NASDAQ GBT) traded up $1.35 during mid-day trading on Tuesday, hitting $63.65. 793,600 shares of the company were exchanged, compared to its average volume of 1,129,156. Global Blood Therapeutics has a 1 year low of $23.55 and a 1 year high of $65.40. The stock has a market capitalization of $2,890.00 and a price-to-earnings ratio of -24.65.

In other Global Blood Therapeutics news, insider Jung Choi sold 3,000 shares of Global Blood Therapeutics stock in a transaction on Monday, December 18th. The shares were sold at an average price of $36.55, for a total transaction of $109,650.00. Following the completion of the transaction, the insider now directly owns 135,255 shares of the company’s stock, valued at $4,943,570.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Perceptive Advisors Llc acquired 175,000 shares of the company’s stock in a transaction on Tuesday, December 19th. The shares were purchased at an average cost of $38.00 per share, with a total value of $6,650,000.00. The disclosure for this purchase can be found here. Insiders have sold 51,812 shares of company stock valued at $2,864,728 over the last ninety days. 5.30% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of GBT. State Street Corp boosted its stake in shares of Global Blood Therapeutics by 217.9% during the second quarter. State Street Corp now owns 2,138,323 shares of the company’s stock valued at $58,479,000 after purchasing an additional 1,465,595 shares during the period. Point72 Asset Management L.P. boosted its stake in shares of Global Blood Therapeutics by 189.5% during 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. Janus Henderson Group PLC purchased a new stake in shares of Global Blood Therapeutics during the second quarter valued at $26,919,000. BlackRock Inc. boosted its stake in shares of Global Blood Therapeutics by 30.0% during the second quarter. BlackRock Inc. now owns 3,404,538 shares of the company’s stock valued at $93,114,000 after purchasing an additional 785,691 shares during the period. Finally, Perceptive Advisors LLC boosted its stake in shares of Global Blood Therapeutics by 14.7% during the fourth quarter. Perceptive Advisors LLC now owns 4,889,066 shares of the company’s stock valued at $192,384,000 after purchasing an additional 625,000 shares during the period. 85.95% of the stock is owned by 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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