Global Blood Therapeutics Inc (NASDAQ:GBT) has been given an average rating of “Buy” by the sixteen ratings firms that are presently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation, twelve have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $85.00.
A number of equities analysts recently commented on the company. Cowen reaffirmed a “hold” rating on shares of Sunesis Pharmaceuticals in a report on Sunday, June 16th. Goldman Sachs Group raised Koninklijke KPN from a “neutral” rating to a “buy” rating in a report on Wednesday, May 29th. Wells Fargo & Co raised their target price on Stryker from $214.00 to $219.00 and gave the stock an “outperform” rating in a report on Monday, April 1st. Wedbush set a $85.00 target price on Pacira Biosciences and gave the stock a “buy” rating in a report on Friday, June 28th. Finally, ValuEngine raised Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Monday, April 1st.
Shares of NASDAQ GBT traded down $1.93 during midday trading on Tuesday, hitting $55.56. 426,183 shares of the stock traded hands, compared to its average volume of 1,193,891. The stock has a 50-day moving average price of $57.12. The stock has a market capitalization of $3.13 billion, a price-to-earnings ratio of -16.29 and a beta of 1.51. The company has a quick ratio of 14.51, a current ratio of 14.51 and a debt-to-equity ratio of 0.04. Global Blood Therapeutics has a one year low of $30.15 and a one year high of $64.94.
Global Blood Therapeutics (NASDAQ:GBT) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.87) earnings per share for the quarter, beating the consensus estimate of ($0.94) by $0.07. On average, equities analysts anticipate that Global Blood Therapeutics will post -3.81 earnings per share for the current year.
Hedge funds have recently modified their holdings of the business. FMR LLC grew its position in shares of Global Blood Therapeutics by 1.1% during the first quarter. FMR LLC now owns 8,417,709 shares of the company’s stock valued at $445,549,000 after purchasing an additional 88,310 shares in the last quarter. Perceptive Advisors LLC grew its position in shares of Global Blood Therapeutics by 5.4% during the fourth quarter. Perceptive Advisors LLC now owns 5,425,726 shares of the company’s stock valued at $222,726,000 after purchasing an additional 276,816 shares in the last quarter. BlackRock Inc. grew its position in shares of Global Blood Therapeutics by 1.0% during the fourth quarter. BlackRock Inc. now owns 4,226,345 shares of the company’s stock valued at $173,492,000 after purchasing an additional 40,076 shares in the last quarter. Bank of America Corp DE grew its position 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 valued at $104,397,000 after purchasing an additional 1,094,742 shares in the last quarter. Finally, Great Point Partners LLC purchased a new position in shares of Global Blood Therapeutics during the fourth quarter valued at about $48,439,000.
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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