Global Blood Therapeutics Inc (GBT) Given Consensus Recommendation of “Buy” by Brokerages

Global Blood Therapeutics Inc (NASDAQ:GBT) has been given an average rating of “Buy” by the ten ratings firms that are presently covering the stock. Two investment analysts have rated the stock with a sell recommendation and eight have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $51.44.

Several analysts recently weighed in on the stock. Wedbush assumed coverage on shares of Global Blood Therapeutics in a report on Monday. They issued a “reduce” rating and a $73.00 target price on the stock. Zacks Investment Research cut shares of Global Blood Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, March 16th. Cantor Fitzgerald assumed coverage on shares of Global Blood Therapeutics in a report on Wednesday, March 15th. They set an “overweight” rating and a $61.00 price objective on the stock. JPMorgan Chase & Co. reissued a “buy” rating and set a $44.00 price objective on shares of Global Blood Therapeutics in a report on Wednesday, March 15th. Finally, Instinet assumed coverage on shares of Global Blood Therapeutics in a report on Wednesday, March 1st. They set a “buy” rating and a $50.00 price objective on the stock.

A number of hedge funds have recently added to or reduced their stakes in the company. Artal Group S.A. boosted its stake in Global Blood Therapeutics by 146.1% in the fourth quarter. Artal Group S.A. now owns 246,054 shares of the company’s stock worth $3,555,000 after buying an additional 146,054 shares during the last quarter. Perceptive Advisors LLC bought a new stake in Global Blood Therapeutics during the fourth quarter worth $45,213,000. Harbourvest Partners LLC bought a new stake in Global Blood Therapeutics during the fourth quarter worth $1,358,000. Marshall Wace LLP bought a new stake in Global Blood Therapeutics during the fourth quarter worth $10,462,000. Finally, Oxford Asset Management boosted its stake in Global Blood Therapeutics by 264.5% in the fourth quarter. Oxford Asset Management now owns 140,845 shares of the company’s stock worth $2,035,000 after buying an additional 102,200 shares during the last quarter. 56.36% of the stock is currently owned by institutional investors.

Shares of Global Blood Therapeutics (NASDAQ:GBT) opened at 37.35 on Tuesday. The stock’s market capitalization is $1.63 billion. The stock has a 50 day moving average of $25.85 and a 200 day moving average of $20.00. Global Blood Therapeutics has a 12-month low of $12.24 and a 12-month high of $39.65.

Global Blood Therapeutics (NASDAQ:GBT) last issued its earnings results on Monday, March 13th. The company reported ($0.74) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.64) by $0.10. During the same quarter in the previous year, the business earned ($0.53) EPS. Equities research analysts anticipate that Global Blood Therapeutics will post ($2.76) EPS for the current fiscal year.

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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’s segment is engaged in discovering, developing and commercializing therapeutics to treat blood-based disorders.

5 Day Chart for NASDAQ:GBT

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