J P Morgan Chase & Co restated their buy rating on shares of Global Blood Therapeutics, Inc. (NASDAQ:GBT) in a research note issued to investors on Tuesday morning.

A number of other analysts have also commented on the stock. Zacks Investment Research upgraded shares of Global Blood Therapeutics from a hold rating to a buy rating and set a $18.00 price target for the company in a research note on Tuesday. Wedbush set a $73.00 price target on shares of Global Blood Therapeutics and gave the stock a buy rating in a research note on Tuesday, December 6th. Cowen and Company reiterated a buy rating on shares of Global Blood Therapeutics in a research note on Monday, December 5th. Finally, Roth Capital set a $47.00 price target on shares of Global Blood Therapeutics and gave the stock a buy rating in a research note on Monday, December 5th. Seven investment analysts have rated the stock with a buy rating, The company presently has an average rating of Buy and a consensus price target of $44.63.

Global Blood Therapeutics (NASDAQ:GBT) traded up 1.672% during mid-day trading on Tuesday, reaching $16.725. 91,363 shares of the company’s stock traded hands. The company’s market cap is $624.11 million. The stock has a 50 day moving average of $16.49 and a 200 day moving average of $18.13. Global Blood Therapeutics has a 12-month low of $12.24 and a 12-month high of $27.99.

Global Blood Therapeutics (NASDAQ:GBT) last announced its quarterly earnings results on Wednesday, November 9th. The company reported ($0.58) EPS for the quarter, hitting analysts’ consensus estimates of ($0.58). During the same quarter in the prior year, the business earned ($0.90) earnings per share. On average, equities research analysts predict that Global Blood Therapeutics will post ($2.39) earnings per share for the current fiscal year.

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In related news, major shareholder Kevin P. Starr sold 108,955 shares of the business’s stock in a transaction that occurred on Friday, December 16th. The shares were sold at an average price of $16.00, for a total transaction of $1,743,280.00. Following the completion of the sale, the insider now directly owns 82,544 shares in the company, valued at $1,320,704. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 6.10% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Candriam Luxembourg S.C.A. raised its stake in shares of Global Blood Therapeutics by 71.4% in the third quarter. Candriam Luxembourg S.C.A. now owns 60,000 shares of the company’s stock valued at $1,383,000 after buying an additional 25,000 shares during the period. Highbridge Capital Management LLC acquired a new stake in shares of Global Blood Therapeutics during the third quarter valued at about $483,000. D. E. Shaw & Co. Inc. raised its stake in shares of Global Blood Therapeutics by 431.4% in the third quarter. D. E. Shaw & Co. Inc. now owns 82,374 shares of the company’s stock valued at $1,899,000 after buying an additional 66,874 shares during the period. The Manufacturers Life Insurance Company acquired a new stake in shares of Global Blood Therapeutics during the third quarter valued at about $276,000. Finally, TLP Group LLC acquired a new stake in shares of Global Blood Therapeutics during the third quarter valued at about $111,000. Institutional investors own 56.01% of the company’s stock.

Global Blood Therapeutics Company Profile

Global Blood Therapeutics, Inc is a clinical-stage biopharmaceutical company. The Company is engaged in discovering, developing and commercializing therapeutics to treat blood-based disorders. The Company’s segment is engaged in discovering, developing and commercializing therapeutics to treat blood-based disorders.

5 Day Chart for NASDAQ:GBT

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