Global Blood Therapeutics (NASDAQ: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 Wednesday, June 26th, BidAskClub reports.

Several other research analysts also recently weighed in on GBT. JPMorgan Chase & Co. restated a hold rating on shares of HP in a research report on Thursday, February 28th. Zacks Investment Research cut shares of Great Panther Mining from a hold rating to a sell rating in a research report on Monday, March 4th. Morgan Stanley increased their price objective on shares of Zimmer Biomet from $132.00 to $143.00 and gave the stock an overweight rating in a research report on Monday, March 4th. Goldman Sachs Group upgraded shares of Koninklijke KPN from a neutral rating to a buy rating in a report on Wednesday, May 29th. Finally, HC Wainwright reiterated a buy rating on shares of Global Blood Therapeutics in a report on Tuesday, June 25th. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $87.46.

NASDAQ GBT traded up $0.98 on Wednesday, reaching $57.49. 394,858 shares of the company’s stock traded hands, compared to its average volume of 783,790. The stock has a market cap of $3.19 billion, a price-to-earnings ratio of -16.86 and a beta of 1.51. Global Blood Therapeutics has a fifty-two week low of $30.15 and a fifty-two week high of $64.94. The company has a debt-to-equity ratio of 0.04, a quick ratio of 14.51 and a current ratio of 14.51. The business has a 50 day moving average of $57.32.

Global Blood Therapeutics (NASDAQ:GBT) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.87) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.94) by $0.07. On average, analysts expect that Global Blood Therapeutics will post -3.81 EPS for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Taylor Wealth Management Partners boosted its holdings in Global Blood Therapeutics by 0.5% in the second quarter. Taylor Wealth Management Partners now owns 44,801 shares of the company’s stock valued at $2,357,000 after purchasing an additional 217 shares during the last quarter. State Board of Administration of Florida Retirement System raised its holdings in shares of Global Blood Therapeutics by 1.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 25,279 shares of the company’s stock worth $1,338,000 after purchasing an additional 310 shares during the period. BNP Paribas Arbitrage SA increased its holdings in shares of Global Blood Therapeutics by 3.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 12,522 shares of the company’s stock worth $663,000 after acquiring an additional 447 shares during the period. Metropolitan Life Insurance Co NY increased its holdings in shares of Global Blood Therapeutics by 3.4% in the 1st quarter. Metropolitan Life Insurance Co NY now owns 16,873 shares of the company’s stock worth $893,000 after acquiring an additional 562 shares during the period. Finally, Bank of Montreal Can grew its position in Global Blood Therapeutics by 61.9% in the 4th quarter. Bank of Montreal Can now owns 1,582 shares of the company’s stock valued at $65,000 after buying an additional 605 shares in the last quarter.

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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