Global Blood Therapeutics, Inc. (NASDAQ:GBT) Receives Consensus Rating of “Buy” from Analysts

Shares of Global Blood Therapeutics, Inc. (NASDAQ:GBTGet Rating) have been assigned an average recommendation of “Buy” from the fifteen brokerages that are covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $55.42.

Several equities research analysts have commented on the stock. Oppenheimer dropped their price target on shares of Global Blood Therapeutics from $86.00 to $71.00 in a research note on Thursday, May 5th. Cantor Fitzgerald assumed coverage on shares of Global Blood Therapeutics in a research note on Thursday, April 28th. They issued a “buy” rating and a $75.00 price target on the stock. Cowen lowered their price objective on shares of Global Blood Therapeutics from $72.00 to $67.00 in a research note on Thursday, February 24th. HC Wainwright reiterated a “buy” rating and set a $75.00 price objective on shares of Global Blood Therapeutics in a research note on Thursday, February 24th. Finally, Morgan Stanley raised their price objective on shares of Global Blood Therapeutics from $28.00 to $31.00 and gave the company an “equal weight” rating in a research note on Monday, February 28th.

Shares of NASDAQ GBT opened at $24.29 on Tuesday. Global Blood Therapeutics has a 12-month low of $22.67 and a 12-month high of $41.73. The company has a market cap of $1.58 billion, a P/E ratio of -4.99 and a beta of 1.11. The company has a current ratio of 8.52, a quick ratio of 7.74 and a debt-to-equity ratio of 4.34. The stock has a fifty day moving average price of $30.50 and a 200 day moving average price of $29.95.

Global Blood Therapeutics (NASDAQ:GBTGet Rating) last posted its quarterly earnings data on Wednesday, May 4th. The company reported ($1.26) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.29) by $0.03. The company had revenue of $55.20 million during the quarter, compared to analysts’ expectations of $56.13 million. Global Blood Therapeutics had a negative net margin of 146.82% and a negative return on equity of 129.74%. The firm’s revenue for the quarter was up 41.5% on a year-over-year basis. During the same period in the prior year, the company posted ($1.21) EPS. On average, sell-side analysts forecast that Global Blood Therapeutics will post -4.64 EPS for the current fiscal year.

Large investors have recently modified their holdings of the business. Morgan Stanley raised its holdings in shares of Global Blood Therapeutics by 213.2% during the 2nd quarter. Morgan Stanley now owns 549,982 shares of the company’s stock valued at $19,260,000 after purchasing an additional 374,402 shares in the last quarter. US Bancorp DE raised its holdings in shares of Global Blood Therapeutics by 52.7% during the 3rd quarter. US Bancorp DE now owns 1,385 shares of the company’s stock valued at $36,000 after purchasing an additional 478 shares in the last quarter. Credit Suisse AG raised its holdings in Global Blood Therapeutics by 5.8% in the 3rd quarter. Credit Suisse AG now owns 56,447 shares of the company’s stock worth $1,439,000 after acquiring an additional 3,076 shares during the period. Macquarie Group Ltd. raised its holdings in Global Blood Therapeutics by 133.3% in the 3rd quarter. Macquarie Group Ltd. now owns 3,411 shares of the company’s stock worth $87,000 after acquiring an additional 1,949 shares during the period. Finally, Hsbc Holdings PLC raised its holdings in Global Blood Therapeutics by 51.3% in the 3rd quarter. Hsbc Holdings PLC now owns 101,473 shares of the company’s stock worth $2,608,000 after acquiring an additional 34,410 shares during the period.

Global Blood Therapeutics Company Profile (Get Rating)

Global Blood Therapeutics, Inc, a biopharmaceutical company, engages in the discovery, development, and delivery of treatments for underserved patient communities with sickle cell disease (SCD). The company offers Oxbryta tablets, an oral, once-daily therapy for SCD. It also evaluates the safety and pharmacokinetics of single and multiple doses of Oxbryta in a Phase II a clinical trial of adolescent and pediatric patients with SCD.

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