Shares of Global Blood Therapeutics Inc (NASDAQ:GBT) traded down 8.6% during trading on Friday . The company traded as low as $41.51 and last traded at $42.65. 4,168,609 shares traded hands during mid-day trading, an increase of 273% from the average session volume of 1,118,773 shares. The stock had previously closed at $46.67.

A number of analysts have recently commented on the company. Oppenheimer set a $82.00 price objective on Global Blood Therapeutics and gave the company a “buy” rating in a research report on Monday. ValuEngine upgraded Global Blood Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 18th. Cantor Fitzgerald set a $96.00 price target on Global Blood Therapeutics and gave the stock a “buy” rating in a research report on Monday. HC Wainwright set a $150.00 price target on Global Blood Therapeutics and gave the stock a “buy” rating in a research report on Tuesday. Finally, William Blair reiterated a “buy” rating on shares of Global Blood Therapeutics in a research report on Monday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have given a buy rating to the company’s stock. Global Blood Therapeutics has an average rating of “Buy” and an average target price of $83.20.

The stock has a market capitalization of $2.37 billion, a P/E ratio of -15.45 and a beta of 3.65.

Global Blood Therapeutics (NASDAQ:GBT) last issued its quarterly earnings results on Tuesday, November 6th. The company reported ($0.83) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.85) by $0.02. During the same period in the previous year, the firm earned ($0.66) EPS. As a group, analysts anticipate that Global Blood Therapeutics Inc will post -3.36 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Global Blood Therapeutics by 2.6% in the 3rd quarter. Vanguard Group Inc. now owns 4,202,443 shares of the company’s stock valued at $159,693,000 after purchasing an additional 108,137 shares during the last quarter. Morgan Stanley lifted its stake in Global Blood Therapeutics by 14.4% during the 3rd quarter. Morgan Stanley now owns 284,382 shares of the company’s stock worth $10,806,000 after acquiring an additional 35,878 shares in the last quarter. Legal & General Group Plc lifted its stake in Global Blood Therapeutics by 12.3% during the 3rd quarter. Legal & General Group Plc now owns 18,065 shares of the company’s stock worth $686,000 after acquiring an additional 1,973 shares in the last quarter. Rehmann Capital Advisory Group acquired a new position in Global Blood Therapeutics during the 3rd quarter worth about $165,000. Finally, Teachers Advisors LLC lifted its stake in Global Blood Therapeutics by 0.5% during the 3rd quarter. Teachers Advisors LLC now owns 325,132 shares of the company’s stock worth $12,355,000 after acquiring an additional 1,588 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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