Trade Report: The Global Blood Therapeutics Inc. (GBT) Upgraded to Buy by Zacks Investment Research

The Global Blood Therapeutics Inc. (GBT) Upgraded to Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of Global Blood Therapeutics Inc. (NASDAQ:GBT) from a hold rating to a buy rating in a research note published on Tuesday. Zacks Investment Research currently has $20.00 price objective on the stock.

According to Zacks, “Global Blood Therapeutics, Inc. is a biopharmaceutical company which is engaged in discovering, developing and commercializing novel therapeutics to treat grievous blood-based disorders. Its product candidate consists of GBT440 is an oral, once-daily prophylactic therapy for sickle cell disease which is in clinical trial. The company in addition to GBT is involved in research and development activities targeted hypoxemic pulmonary disorders, including idiopathic pulmonary fibrosis and hereditary angioedema. Global Blood Therapeutics, Inc. is based in South San Francisco, California. “

Several other equities analysts have also commented on GBT. Wedbush reaffirmed an outperform rating and set a $66.00 target price on shares of Global Blood Therapeutics in a report on Monday, August 22nd. Morgan Stanley reissued a buy rating and set a $62.00 price target on shares of Global Blood Therapeutics in a research report on Sunday, August 14th. Finally, Wells Fargo & Co. assumed coverage on shares of Global Blood Therapeutics in a research report on Friday, September 30th. They set an outperform rating and a $23.05 price target for the company. Five equities research analysts have rated the stock with a buy rating, The stock presently has an average rating of Buy and a consensus target price of $46.18.

Global Blood Therapeutics (NASDAQ:GBT) opened at 18.25 on Tuesday. The company has a 50-day moving average of $20.06 and a 200-day moving average of $19.48. The company’s market capitalization is $680.45 million. Global Blood Therapeutics has a 52 week low of $12.24 and a 52 week high of $55.74.

Global Blood Therapeutics (NASDAQ:GBT) last released its earnings results on Wednesday, August 10th. The company reported ($0.58) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.63) by $0.05. During the same quarter in the prior year, the business posted ($4.84) EPS. On average, equities research analysts anticipate that Global Blood Therapeutics will post $0.74 EPS for the current year.

Several large investors have recently bought and sold shares of GBT. LMR Partners LLP bought a new stake in Global Blood Therapeutics during the second quarter valued at approximately $1,054,000. FNY Managed Accounts LLC bought a new stake in Global Blood Therapeutics during the second quarter valued at approximately $1,671,000. Candriam Luxembourg S.C.A. bought a new stake in Global Blood Therapeutics during the second quarter valued at approximately $581,000. Marcus Capital LLC bought a new stake in Global Blood Therapeutics during the second quarter valued at approximately $499,000. Finally, Iguana Healthcare Management LLC boosted its stake in Global Blood Therapeutics by 120.2% in the first quarter. Iguana Healthcare Management LLC now owns 242,274 shares of the company’s stock valued at $3,842,000 after buying an additional 132,274 shares in the last quarter. 62.67% of the stock is owned by hedge funds and other institutional investors.

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’s segment is engaged in discovering, developing and commercializing therapeutics to treat blood-based disorders.

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