Global Blood Therapeutics (GBT) Shares Down 7.2%

Shares of Global Blood Therapeutics Inc (NASDAQ:GBT) fell 7.2% during mid-day trading on Monday . The stock traded as low as $54.55 and last traded at $54.57. 609,396 shares traded hands during trading, a decline of 6% from the average session volume of 647,800 shares. The stock had previously closed at $58.83.

Several research firms have issued reports on GBT. ValuEngine raised shares of Global Blood Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 1st. BidaskClub raised shares of Global Blood Therapeutics from a “hold” rating to a “buy” rating in a research report on Friday, May 10th. Oppenheimer upped their price target on shares of Global Blood Therapeutics from $82.00 to $89.00 and gave the stock an “outperform” rating in a research report on Thursday, May 9th. Guggenheim began coverage on shares of Global Blood Therapeutics in a research report on Friday, February 22nd. They set a “buy” rating and a $75.00 price target on the stock. Finally, Wedbush upped their price target on shares of Global Blood Therapeutics from $91.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 5th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $88.38.

The firm has a market cap of $3.27 billion, a P/E ratio of -17.00 and a beta of 2.10. The company has a debt-to-equity ratio of 0.04, a quick ratio of 14.38 and a current ratio of 14.51.

Global Blood Therapeutics (NASDAQ:GBT) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.87) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.94) by $0.07. As a group, equities research analysts expect that Global Blood Therapeutics Inc will post -3.87 EPS for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the stock. Truvestments Capital LLC acquired a new position in shares of Global Blood Therapeutics in the first quarter valued at about $33,000. Lindbrook Capital LLC acquired a new position in shares of Global Blood Therapeutics in the fourth quarter valued at about $55,000. Bank of Montreal Can grew its stake in shares of Global Blood Therapeutics by 61.9% in the fourth quarter. Bank of Montreal Can now owns 1,582 shares of the company’s stock valued at $65,000 after acquiring an additional 605 shares in the last quarter. Strs Ohio acquired a new position in shares of Global Blood Therapeutics in the fourth quarter valued at about $65,000. Finally, Focused Wealth Management Inc grew its stake in shares of Global Blood Therapeutics by 14.6% in the fourth quarter. Focused Wealth Management Inc now owns 3,140 shares of the company’s stock valued at $129,000 after acquiring an additional 400 shares in the last quarter.

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Global Blood Therapeutics Company Profile (NASDAQ:GBT)

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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