Global Blood Therapeutics (NASDAQ:GBT) has been given a $73.00 target price by HC Wainwright in a note issued to investors on Monday, March 12th. The firm presently has a “buy” rating on the stock. HC Wainwright’s target price suggests a potential upside of 75.27% from the company’s current price.
GBT has been the subject of several other research reports. Cantor Fitzgerald set a $61.00 price objective on shares of Global Blood Therapeutics and gave the stock a “buy” rating in a research note on Monday, December 11th. William Blair assumed coverage on shares of Global Blood Therapeutics in a research note on Tuesday, January 23rd. They set an “outperform” rating and a $80.00 price objective for the company. SunTrust Banks set a $80.00 target price on shares of Global Blood Therapeutics and gave the stock a “buy” rating in a research report on Thursday, March 1st. ValuEngine raised shares of Global Blood Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, February 2nd. Finally, BidaskClub raised shares of Global Blood Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 17th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $70.69.
GBT traded down $2.35 on Monday, reaching $41.65. 578,857 shares of the company traded hands, compared to its average volume of 1,087,194. Global Blood Therapeutics has a one year low of $24.02 and a one year high of $68.05. The firm has a market capitalization of $2,290.54, a price-to-earnings ratio of -15.09 and a beta of 4.37.
In related news, insider Peter Radovich sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $60.00, for a total transaction of $1,800,000.00. Following the completion of the sale, the insider now directly owns 33,581 shares in the company, valued at $2,014,860. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jung Choi sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $52.85, for a total transaction of $158,550.00. Following the sale, the insider now owns 137,255 shares of the company’s stock, valued at $7,253,926.75. The disclosure for this sale can be found here. Insiders have sold 54,911 shares of company stock valued at $3,112,352 over the last 90 days. 5.30% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in GBT. Jane Street Group LLC purchased a new position in Global Blood Therapeutics during the third quarter worth about $200,000. Trexquant Investment LP purchased a new position in Global Blood Therapeutics during the third quarter worth about $202,000. Xact Kapitalforvaltning AB purchased a new position in Global Blood Therapeutics during the fourth quarter worth about $202,000. Dynamic Technology Lab Private Ltd purchased a new position in Global Blood Therapeutics during the third quarter worth about $205,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in Global Blood Therapeutics during the third quarter worth about $230,000. Hedge funds and other institutional investors own 85.40% of the company’s stock.
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Global Blood Therapeutics Company Profile
Global Blood Therapeutics Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of novel therapeutics to treat grievous blood-based disorders. Its lead product candidate is voxelotor, an oral once-daily therapy that modulates hemoglobin's affinity for oxygen, which is in Phase 3 clinical trials in adult and adolescent patients with sickle cell disease (SCD), as well as in evaluating the safety and pharmacokinetics of single and multiple doses of voxelotor in a Phase 2a clinical trial of adolescent and pediatric patients with SCD.
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