Global Blood Therapeutics (GBT) Stock Rating Upgraded by BidaskClub

BidaskClub upgraded shares of Global Blood Therapeutics (NASDAQ:GBT) from a hold rating to a buy rating in a report issued on Saturday morning, BidAskClub reports.

Other equities analysts also recently issued research reports about the stock. ValuEngine raised shares of Global Blood Therapeutics from a buy rating to a strong-buy rating in a report on Monday, April 1st. Wells Fargo & Co lifted their price objective on shares of Global Blood Therapeutics from $85.00 to $96.00 and gave the stock an outperform rating in a report on Monday, April 1st. Wedbush lifted their price objective on shares of Global Blood Therapeutics from $91.00 to $95.00 and gave the stock an outperform rating in a report on Tuesday, March 5th. Zacks Investment Research downgraded shares of Global Blood Therapeutics from a buy rating to a hold rating in a report on Monday, March 4th. Finally, Morgan Stanley lifted their price objective on shares of Global Blood Therapeutics from $55.00 to $57.00 and gave the stock an equal weight rating in a report on Monday, March 4th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $86.57.

GBT stock opened at $58.33 on Friday. Global Blood Therapeutics has a twelve month low of $30.15 and a twelve month high of $59.95. The company has a market cap of $3.24 billion, a PE ratio of -17.11 and a beta of 2.12.

Global Blood Therapeutics (NASDAQ:GBT) last released its quarterly earnings results on Wednesday, February 27th. The company reported ($0.93) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.05). During the same period last year, the business earned ($0.95) EPS. Research analysts expect that Global Blood Therapeutics will post -3.87 EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of GBT. PNC Financial Services Group Inc. lifted its stake in Global Blood Therapeutics by 740.3% in the third quarter. PNC Financial Services Group Inc. now owns 4,353 shares of the company’s stock valued at $165,000 after buying an additional 3,835 shares during the last quarter. BlackRock Inc. lifted its stake in Global Blood Therapeutics by 1.1% in the third quarter. BlackRock Inc. now owns 4,186,269 shares of the company’s stock valued at $159,079,000 after buying an additional 43,507 shares during the last quarter. Dimensional Fund Advisors LP bought a new stake in Global Blood Therapeutics in the third quarter valued at $3,134,000. First Republic Investment Management Inc. lifted its stake in Global Blood Therapeutics by 77.1% in the third quarter. First Republic Investment Management Inc. now owns 12,688 shares of the company’s stock valued at $482,000 after buying an additional 5,523 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Global Blood Therapeutics in the third quarter valued at $370,000.

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.

Read More: Asset Allocation

Analyst Recommendations for Global Blood Therapeutics (NASDAQ:GBT)

Receive News & Ratings for Global Blood Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Blood Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.