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Global Blood Therapeutics (NASDAQ:GBT) Lowered to “Sell” at BidaskClub

BidaskClub downgraded shares of Global Blood Therapeutics (NASDAQ:GBT) from a hold rating to a sell rating in a report published on Saturday, November 9th, BidAskClub reports.

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Several other brokerages have also issued reports on GBT. Canaccord Genuity assumed coverage on Global Blood Therapeutics in a research report on Wednesday, November 6th. They set a hold rating and a $50.00 target price on the stock. Cowen set a $83.00 target price on Global Blood Therapeutics and gave the company a buy rating in a research report on Wednesday, October 9th. Morgan Stanley set a $60.00 target price on Global Blood Therapeutics and gave the company a hold rating in a research report on Friday, August 9th. Cantor Fitzgerald reissued an overweight rating on shares of Global Blood Therapeutics in a report on Thursday, October 17th. Finally, Wells Fargo & Co increased their price objective on Global Blood Therapeutics from $96.00 to $104.00 and gave the company an outperform rating in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the stock. Global Blood Therapeutics has a consensus rating of Buy and an average price target of $88.08.

GBT stock traded up $2.41 on Friday, reaching $51.16. The company’s stock had a trading volume of 645,800 shares, compared to its average volume of 669,676. Global Blood Therapeutics has a 12-month low of $30.15 and a 12-month high of $64.94. The firm has a market cap of $2.94 billion, a PE ratio of -15.00 and a beta of 1.57. The business has a fifty day simple moving average of $48.52 and a two-hundred day simple moving average of $53.09. The company has a debt-to-equity ratio of 0.04, a quick ratio of 14.95 and a current ratio of 14.95.

Global Blood Therapeutics (NASDAQ:GBT) last issued its earnings results on Thursday, November 7th. The company reported ($1.07) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.03) by ($0.04). During the same period last year, the firm posted ($0.83) earnings per share. As a group, research analysts anticipate that Global Blood Therapeutics will post -4.12 earnings per share for the current fiscal year.

In other Global Blood Therapeutics news, insider Tricia Borga Suvari sold 3,327 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $48.45, for a total transaction of $161,193.15. Following the transaction, the insider now owns 12,386 shares in the company, valued at $600,101.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lesley Ann Calhoun sold 2,765 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $54.36, for a total value of $150,305.40. Following the transaction, the insider now owns 887 shares in the company, valued at approximately $48,217.32. The disclosure for this sale can be found here. Insiders sold 14,698 shares of company stock worth $711,058 in the last 90 days. Company insiders own 4.30% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GBT. Prudential Financial Inc. increased its holdings in shares of Global Blood Therapeutics by 11.1% in the second quarter. Prudential Financial Inc. now owns 5,623 shares of the company’s stock valued at $296,000 after purchasing an additional 560 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Global Blood Therapeutics by 56.3% in the second quarter. Janney Montgomery Scott LLC now owns 7,590 shares of the company’s stock valued at $399,000 after purchasing an additional 2,735 shares during the last quarter. Taylor Wealth Management Partners increased its holdings in shares of Global Blood Therapeutics by 2.1% in the third quarter. Taylor Wealth Management Partners now owns 45,726 shares of the company’s stock valued at $2,219,000 after purchasing an additional 925 shares during the last quarter. Advisor Group Inc. increased its holdings in shares of Global Blood Therapeutics by 1,307.9% in the second quarter. Advisor Group Inc. now owns 11,404 shares of the company’s stock valued at $600,000 after purchasing an additional 10,594 shares during the last quarter. Finally, Eagle Asset Management Inc. increased its holdings in shares of Global Blood Therapeutics by 2.1% in the third quarter. Eagle Asset Management Inc. now owns 446,011 shares of the company’s stock valued at $21,640,000 after purchasing an additional 9,050 shares during the last quarter. Institutional investors and hedge funds own 98.19% of the company’s stock.

Global Blood Therapeutics Company Profile

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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