StockNews.com Begins Coverage on Global Blood Therapeutics (NASDAQ:GBT)

Equities research analysts at StockNews.com began coverage on shares of Global Blood Therapeutics (NASDAQ:GBTGet Rating) in a research note issued on Monday. The firm set a “hold” rating on the stock.

Other equities research analysts also recently issued reports about the company. Truist Financial downgraded Global Blood Therapeutics to a “hold” rating in a report on Monday, August 15th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Global Blood Therapeutics in a research note on Wednesday, September 21st. Canaccord Genuity Group upgraded Global Blood Therapeutics from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $40.00 to $72.00 in a research report on Monday, August 8th. Wells Fargo & Company cut Global Blood Therapeutics from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $66.00 to $68.50 in a report on Tuesday, August 9th. Finally, Cowen cut Global Blood Therapeutics to a “market perform” rating and lifted their price target for the company from $67.00 to $68.50 in a report on Tuesday, August 9th. Twelve research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $65.42.

Global Blood Therapeutics Trading Up 0.0 %

NASDAQ GBT opened at $68.49 on Monday. The firm’s 50-day moving average is $68.32 and its two-hundred day moving average is $49.91. Global Blood Therapeutics has a 12 month low of $21.65 and a 12 month high of $73.02. The company has a debt-to-equity ratio of 4.92, a current ratio of 6.88 and a quick ratio of 6.17. The stock has a market capitalization of $4.62 billion, a P/E ratio of -13.67 and a beta of 0.45.

Institutional Trading of Global Blood Therapeutics

Institutional investors have recently modified their holdings of the company. Eubel Brady & Suttman Asset Management Inc. acquired a new position in Global Blood Therapeutics during the first quarter worth approximately $17,322,000. Pentwater Capital Management LP bought a new stake in shares of Global Blood Therapeutics in the third quarter valued at approximately $217,920,000. UBS Oconnor LLC bought a new stake in shares of Global Blood Therapeutics in the third quarter valued at approximately $152,461,000. Glazer Capital LLC bought a new stake in Global Blood Therapeutics during the third quarter worth $96,172,000. Finally, State Street Corp lifted its stake in Global Blood Therapeutics by 28.0% during the second quarter. State Street Corp now owns 4,423,544 shares of the company’s stock worth $141,332,000 after purchasing an additional 967,532 shares during the last quarter.

About Global Blood Therapeutics

(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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Analyst Recommendations for Global Blood Therapeutics (NASDAQ:GBT)

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