William Blair Reaffirms “Buy” Rating for Global Blood Therapeutics (GBT)

William Blair reiterated their buy rating on shares of Global Blood Therapeutics (NASDAQ:GBT) in a research report report published on Wednesday.

“We note that the company has enrolled another roughly 118 patients with the goal of seeking accelerated approval. As noted in Tuesday’s press release, management expects to provide a regulatory update by the end of the year .”,” the firm’s analyst commented.

GBT has been the topic of several other research reports. Cantor Fitzgerald set a $96.00 price objective on Global Blood Therapeutics and gave the stock a buy rating in a report on Tuesday, October 2nd. Zacks Investment Research cut Global Blood Therapeutics from a buy rating to a hold rating in a report on Friday, July 20th. BidaskClub cut Global Blood Therapeutics from a hold rating to a sell rating in a report on Wednesday, September 19th. HC Wainwright set a $125.00 price objective on Global Blood Therapeutics and gave the stock a buy rating in a report on Thursday, September 13th. Finally, ValuEngine cut Global Blood Therapeutics from a strong-buy rating to a buy rating in a report on Tuesday, October 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $80.20.

Shares of NASDAQ:GBT opened at $39.89 on Wednesday. Global Blood Therapeutics has a one year low of $31.50 and a one year high of $68.05.

Global Blood Therapeutics (NASDAQ:GBT) last posted its quarterly earnings data on Tuesday, November 6th. The company reported ($0.83) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.85) by $0.02. During the same period last year, the firm posted ($0.66) EPS. Equities research analysts anticipate that Global Blood Therapeutics will post -3.39 earnings per share for the current year.

In related news, insider Lesley Ann Calhoun sold 2,004 shares of Global Blood Therapeutics stock in a transaction on Friday, August 17th. The stock was sold at an average price of $49.89, for a total value of $99,979.56. Following the transaction, the insider now owns 1,342 shares in the company, valued at $66,952.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.40% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the business. FMR LLC raised its position in Global Blood Therapeutics by 21.0% in the third quarter. FMR LLC now owns 7,807,836 shares of the company’s stock valued at $296,698,000 after purchasing an additional 1,357,642 shares during the period. BlackRock Inc. increased its position in shares of Global Blood Therapeutics by 1.1% during the third quarter. BlackRock Inc. now owns 4,186,269 shares of the company’s stock worth $159,079,000 after acquiring an additional 43,507 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Global Blood Therapeutics by 12.2% during the second quarter. Janus Henderson Group PLC now owns 4,154,385 shares of the company’s stock worth $187,778,000 after acquiring an additional 452,843 shares during the last quarter. Northern Trust Corp increased its position in shares of Global Blood Therapeutics by 25.1% during the second quarter. Northern Trust Corp now owns 602,689 shares of the company’s stock worth $27,241,000 after acquiring an additional 121,043 shares during the last quarter. Finally, Nexthera Capital LP increased its position in shares of Global Blood Therapeutics by 28.2% during the second quarter. Nexthera Capital LP now owns 404,092 shares of the company’s stock worth $18,265,000 after acquiring an additional 88,945 shares during the last quarter. 99.01% of the stock is currently owned by institutional investors.

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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