Global Blood Therapeutics, Inc. (GBT) Given Overweight Rating at Morgan Stanley

Morgan Stanley reiterated their overweight rating on shares of Global Blood Therapeutics, Inc. (NASDAQ:GBT) in a report published on Friday, October 6th. Morgan Stanley currently has a $56.00 target price on the stock, up from their previous target price of $51.00.

Several other brokerages also recently weighed in on GBT. BidaskClub raised Global Blood Therapeutics from a sell rating to a hold rating in a report on Saturday, August 5th. Cowen and Company restated an outperform rating and issued a $83.00 price objective on shares of Global Blood Therapeutics in a research note on Monday, August 14th. J P Morgan Chase & Co restated an overweight rating and issued a $46.00 price objective (up from $44.00) on shares of Global Blood Therapeutics in a research note on Tuesday, August 8th. ValuEngine upgraded Global Blood Therapeutics from a sell rating to a hold rating in a research note on Saturday, June 10th. Finally, Needham & Company LLC assumed coverage on Global Blood Therapeutics in a research note on Wednesday, September 20th. They issued a buy rating and a $51.00 price objective for the company. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $54.08.

Global Blood Therapeutics (GBT) opened at 33.00 on Friday. The stock’s market cap is $1.44 billion. The stock’s 50 day moving average price is $29.44 and its 200 day moving average price is $29.29. Global Blood Therapeutics has a 52 week low of $13.35 and a 52 week high of $41.15.

Global Blood Therapeutics (NASDAQ:GBT) last issued its quarterly earnings results on Monday, August 7th. The company reported ($0.55) earnings per share for the quarter, topping the consensus estimate of ($0.61) by $0.06. During the same period last year, the company posted ($0.58) earnings per share. On average, analysts forecast that Global Blood Therapeutics will post ($2.44) earnings per share for the current year.

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In related news, Director Deval L. Patrick sold 27,053 shares of Global Blood Therapeutics stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $29.69, for a total transaction of $803,203.57. Following the completion of the transaction, the director now directly owns 12,053 shares in the company, valued at $357,853.57. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jung Choi sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $30.00, for a total value of $90,000.00. Following the completion of the sale, the insider now owns 143,255 shares of the company’s stock, valued at $4,297,650. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,053 shares of company stock valued at $1,073,204. 5.30% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA increased its position in shares of Global Blood Therapeutics by 694.9% in the second quarter. BNP Paribas Arbitrage SA now owns 4,547 shares of the company’s stock valued at $124,000 after buying an additional 3,975 shares in the last quarter. Great West Life Assurance Co. Can purchased a new stake in shares of Global Blood Therapeutics in the first quarter valued at approximately $129,000. Asset Management One Co. Ltd. purchased a new stake in shares of Global Blood Therapeutics in the first quarter valued at approximately $130,000. Legal & General Group Plc increased its position in shares of Global Blood Therapeutics by 10.1% in the first quarter. Legal & General Group Plc now owns 4,816 shares of the company’s stock valued at $178,000 after buying an additional 440 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of Global Blood Therapeutics in the second quarter valued at approximately $211,000. Institutional investors and hedge funds own 86.07% of the company’s stock.

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 is developing its initial product candidate, GBT440, as an oral, once-daily therapy for sickle cell disease (SCD).

Analyst Recommendations for Global Blood Therapeutics (NASDAQ:GBT)

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