Oppenheimer Reiterates “Buy” Rating for Global Blood Therapeutics (NASDAQ:GBT)

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Global Blood Therapeutics (NASDAQ:GBT)‘s stock had its “buy” rating restated by research analysts at Oppenheimer in a report released on Monday, TipRanks reports. They presently have a $100.00 target price on the stock. Oppenheimer’s price objective indicates a potential upside of 31.67% from the stock’s previous close.

Several other equities analysts also recently weighed in on the stock. Canaccord Genuity initiated coverage on shares of Global Blood Therapeutics in a report on Wednesday, November 6th. They set a “hold” rating and a $50.00 price target on the stock. BidaskClub raised shares of Global Blood Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Thursday, December 5th. SunTrust Banks lifted their price target on shares of Global Blood Therapeutics to $110.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Nomura lifted their price target on shares of Global Blood Therapeutics from $109.00 to $112.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, Wells Fargo & Co lifted their price target on shares of Global Blood Therapeutics from $96.00 to $104.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $93.69.

Shares of NASDAQ:GBT opened at $75.95 on Monday. The company has a debt-to-equity ratio of 0.04, a current ratio of 14.95 and a quick ratio of 14.95. Global Blood Therapeutics has a 1-year low of $34.92 and a 1-year high of $79.95. The company has a market capitalization of $4.78 billion, a P/E ratio of -22.27 and a beta of 1.70. The firm’s 50 day simple moving average is $57.07 and its two-hundred day simple moving average is $54.08.

Global Blood Therapeutics (NASDAQ:GBT) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($1.07) earnings per share for the quarter, missing the consensus estimate of ($1.03) by ($0.04). During the same quarter last year, the firm earned ($0.83) EPS. On average, sell-side analysts anticipate that Global Blood Therapeutics will post -4.16 earnings per share for the current fiscal year.

In other Global Blood Therapeutics news, insider De Dominicis Robert 490,012 shares of Global Blood Therapeutics stock in a transaction dated Tuesday, October 22nd. Also, Director Deval L. Patrick sold 5,357 shares of the business’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $45.05, for a total transaction of $241,332.85. Following the completion of the sale, the director now owns 5,357 shares in the company, valued at approximately $241,332.85. The disclosure for this sale can be found here. In the last quarter, insiders have sold 73,851 shares of company stock worth $4,945,034. Company insiders own 4.30% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quest Capital Management Inc. ADV bought a new stake in Global Blood Therapeutics in the third quarter worth $26,000. Steward Partners Investment Advisory LLC bought a new stake in Global Blood Therapeutics in the second quarter worth $27,000. Lindbrook Capital LLC increased its position in Global Blood Therapeutics by 133.3% in the third quarter. Lindbrook Capital LLC now owns 700 shares of the company’s stock worth $34,000 after purchasing an additional 400 shares during the last quarter. Captrust Financial Advisors bought a new stake in Global Blood Therapeutics in the second quarter worth $42,000. Finally, Truvestments Capital LLC increased its position in Global Blood Therapeutics by 48.0% in the third quarter. Truvestments Capital LLC now owns 925 shares of the company’s stock worth $45,000 after purchasing an additional 300 shares during the last quarter. Institutional investors own 98.76% of the company’s stock.

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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