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.
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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