Global Blood Therapeutics Inc (NASDAQ:GBT) has been given an average rating of “Buy” by the seventeen brokerages that are currently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation, thirteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $89.08.

Several analysts recently commented on GBT shares. Wedbush raised their price target on shares of Global Blood Therapeutics from $91.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, March 5th. William Blair restated a “buy” rating on shares of Global Blood Therapeutics in a report on Wednesday, January 30th. BidaskClub upgraded shares of Global Blood Therapeutics from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 9th. ValuEngine cut shares of Global Blood Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 10th. Finally, Guggenheim started coverage on shares of Global Blood Therapeutics in a report on Friday, February 22nd. They set a “buy” rating and a $75.00 price target for the company.

A number of institutional investors and hedge funds have recently modified their holdings of GBT. Focused Wealth Management Inc raised its position 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 purchasing an additional 400 shares during the period. Bank of Montreal Can raised its position 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 purchasing an additional 605 shares during the period. TD Asset Management Inc. raised its position in shares of Global Blood Therapeutics by 1.0% in the fourth quarter. TD Asset Management Inc. now owns 62,095 shares of the company’s stock valued at $2,549,000 after purchasing an additional 634 shares during the period. Xact Kapitalforvaltning AB raised its position in shares of Global Blood Therapeutics by 8.9% in the fourth quarter. Xact Kapitalforvaltning AB now owns 8,544 shares of the company’s stock valued at $351,000 after purchasing an additional 700 shares during the period. Finally, Dupont Capital Management Corp raised its position in shares of Global Blood Therapeutics by 13.1% in the fourth quarter. Dupont Capital Management Corp now owns 8,603 shares of the company’s stock valued at $353,000 after purchasing an additional 998 shares during the period.

Shares of GBT opened at $57.56 on Friday. Global Blood Therapeutics has a one year low of $30.15 and a one year high of $59.72. The stock has a market capitalization of $3.32 billion, a price-to-earnings ratio of -16.88 and a beta of 2.12.

Global Blood Therapeutics (NASDAQ:GBT) last announced its earnings results on Wednesday, February 27th. The company reported ($0.93) EPS for the quarter, missing the consensus estimate of ($0.88) by ($0.05). During the same period in the prior year, the business posted ($0.95) EPS. Sell-side analysts predict that Global Blood Therapeutics will post -3.87 EPS for the current year.

About Global Blood Therapeutics

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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