Todays Report: The Wedbush Increases Global Blood Therapeutics Inc. (GBT) Price Target to $73.00

The Wedbush Increases Global Blood Therapeutics Inc. (GBT) Price Target to $73.00

Global Blood Therapeutics Inc. (NASDAQ:GBT) had its price target lifted by Wedbush from $66.00 to $73.00 in a research note published on Tuesday. The firm currently has an outperform rating on the stock.

A number of other equities research analysts also recently issued reports on GBT. Zacks Investment Research downgraded shares of Global Blood Therapeutics from a buy rating to a hold rating in a research report on Wednesday, October 19th. Wells Fargo & Co. began 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. Finally, Morgan Stanley reiterated a buy rating and set a $62.00 price target on shares of Global Blood Therapeutics in a research report on Sunday, August 14th. Five investment analysts have rated the stock with a buy rating, Global Blood Therapeutics has a consensus rating of Buy and an average target price of $48.01.

Global Blood Therapeutics (NASDAQ:GBT) opened at 17.65 on Tuesday. The stock’s market capitalization is $658.08 million. The company has a 50-day moving average price of $20.02 and a 200 day moving average price of $19.55. Global Blood Therapeutics has a 12 month low of $12.24 and a 12 month high of $55.74.

Global Blood Therapeutics (NASDAQ:GBT) last announced its quarterly earnings data on Wednesday, August 10th. The company reported ($0.58) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.63) by $0.05. During the same quarter last year, the company posted ($4.84) earnings per share. Equities analysts predict that Global Blood Therapeutics will post ($2.39) earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of GBT. FMR LLC increased its position in shares of Global Blood Therapeutics by 21.0% in the second quarter. FMR LLC now owns 5,533,461 shares of the company’s stock valued at $91,800,000 after buying an additional 959,169 shares in the last quarter. Perceptive Advisors LLC increased its position in shares of Global Blood Therapeutics by 70.2% in the second quarter. Perceptive Advisors LLC now owns 2,207,668 shares of the company’s stock valued at $36,625,000 after buying an additional 910,200 shares in the last quarter. Deerfield Management Co. increased its position in shares of Global Blood Therapeutics by 45.2% in the second quarter. Deerfield Management Co. now owns 1,733,828 shares of the company’s stock valued at $28,764,000 after buying an additional 540,017 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Global Blood Therapeutics by 53.1% in the second quarter. Vanguard Group Inc. now owns 1,278,464 shares of the company’s stock valued at $21,209,000 after buying an additional 443,440 shares in the last quarter. Finally, Janus Capital Management LLC increased its position in shares of Global Blood Therapeutics by 60.5% in the second quarter. Janus Capital Management LLC now owns 1,249,686 shares of the company’s stock valued at $20,732,000 after buying an additional 471,229 shares in the last quarter. Hedge funds and other institutional investors own 62.37% of the company’s stock.

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