Wedbush Reaffirms “Outperform” Rating for Global Blood Therapeutics (GBT)

Wedbush reissued their outperform rating on shares of Global Blood Therapeutics (NASDAQ:GBT) in a research note released on Thursday, AnalystRatings.com reports. The brokerage currently has a $95.00 price objective on the stock.

Other equities analysts have also issued reports about the stock. William Blair restated a buy rating on shares of Global Blood Therapeutics in a report on Wednesday, January 30th. ValuEngine upgraded shares of Global Blood Therapeutics from a buy rating to a strong-buy rating in a report on Monday, April 1st. Wells Fargo & Co increased their price objective on shares of Global Blood Therapeutics from $85.00 to $96.00 and gave the company an outperform rating in a report on Monday, April 1st. Zacks Investment Research upgraded shares of Global Blood Therapeutics from a hold rating to a buy rating and set a $54.00 price objective on the stock in a report on Monday, February 4th. Finally, BidaskClub upgraded shares of Global Blood Therapeutics from a strong sell rating to a sell rating in a report on Wednesday, January 9th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Global Blood Therapeutics has an average rating of Buy and a consensus price target of $86.57.

GBT opened at $54.85 on Thursday. Global Blood Therapeutics has a one year low of $30.15 and a one year high of $59.95.

Global Blood Therapeutics (NASDAQ:GBT) last announced its quarterly earnings data on Wednesday, February 27th. The company reported ($0.93) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.88) by ($0.05). During the same quarter last year, the business posted ($0.95) EPS. On average, research analysts expect that Global Blood Therapeutics will post -3.9 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of GBT. Great Point Partners LLC acquired a new stake in Global Blood Therapeutics in the fourth quarter worth $48,439,000. Bank of America Corp DE raised its holdings in shares of Global Blood Therapeutics by 75.6% during the fourth quarter. Bank of America Corp DE now owns 2,543,161 shares of the company’s stock worth $104,397,000 after acquiring an additional 1,094,742 shares during the period. FMR LLC raised its holdings in shares of Global Blood Therapeutics by 6.7% during the fourth quarter. FMR LLC now owns 8,329,399 shares of the company’s stock worth $341,921,000 after acquiring an additional 521,563 shares during the period. Norges Bank acquired a new stake in shares of Global Blood Therapeutics during the fourth quarter worth $17,826,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Global Blood Therapeutics by 497.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 492,420 shares of the company’s stock worth $20,214,000 after acquiring an additional 409,934 shares during the period.

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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