Equities research analysts at Needham & Company LLC assumed coverage on shares of Global Blood Therapeutics, Inc. (NASDAQ:GBT) in a research report issued on Wednesday. The firm set a “buy” rating on the stock.

Several other brokerages also recently weighed in on GBT. BidaskClub raised shares of Global Blood Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, August 5th. Cowen and Company reaffirmed an “outperform” rating and set a $83.00 target price on shares of Global Blood Therapeutics in a research note on Monday, August 14th. J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $46.00 target price (up from $44.00) on shares of Global Blood Therapeutics in a research note on Tuesday, August 8th. ValuEngine raised shares of Global Blood Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Global Blood Therapeutics in a research note on Tuesday, July 11th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and twelve have assigned a buy rating to the stock. Global Blood Therapeutics currently has an average rating of “Buy” and an average target price of $49.73.

Shares of Global Blood Therapeutics (GBT) traded up 0.35% during trading on Wednesday, reaching $28.60. 539,148 shares of the company traded hands. The company’s market capitalization is $1.25 billion. Global Blood Therapeutics has a 52 week low of $13.35 and a 52 week high of $41.15. The firm’s 50 day moving average price is $27.87 and its 200-day moving average price is $30.05.

Global Blood Therapeutics (NASDAQ:GBT) last announced its earnings results on Monday, August 7th. The company reported ($0.55) earnings per share for the quarter, topping the consensus estimate of ($0.61) by $0.06. During the same quarter in the previous year, the company earned ($0.58) EPS. Equities analysts anticipate that Global Blood Therapeutics will post ($2.45) EPS for the current fiscal year.

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In related news, insider Jung Choi sold 3,000 shares of the stock in a transaction on Friday, July 21st. The shares were sold at an average price of $30.00, for a total value of $90,000.00. Following the transaction, the insider now directly owns 143,255 shares of the company’s stock, valued at approximately $4,297,650. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Deval L. Patrick sold 27,053 shares of the stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $29.69, for a total transaction of $803,203.57. Following the completion of the transaction, the director now directly owns 12,053 shares in the company, valued at $357,853.57. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,053 shares of company stock worth $983,204. Insiders own 5.30% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC grew its position in shares of Global Blood Therapeutics by 2.9% in the 1st quarter. FMR LLC now owns 5,759,471 shares of the company’s stock valued at $212,236,000 after buying an additional 162,004 shares during the last quarter. Perceptive Advisors LLC grew its position in shares of Global Blood Therapeutics by 23.3% in the 1st quarter. Perceptive Advisors LLC now owns 3,858,978 shares of the company’s stock valued at $142,203,000 after buying an additional 730,000 shares during the last quarter. BlackRock Inc. grew its position in shares of Global Blood Therapeutics by 30.0% in the 2nd quarter. BlackRock Inc. now owns 3,404,538 shares of the company’s stock valued at $93,114,000 after buying an additional 785,691 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Global Blood Therapeutics by 15.7% in the 2nd quarter. Vanguard Group Inc. now owns 2,933,251 shares of the company’s stock valued at $80,224,000 after buying an additional 397,271 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Global Blood Therapeutics by 10.8% in the 1st quarter. Wellington Management Group LLP now owns 2,321,123 shares of the company’s stock valued at $85,534,000 after buying an additional 225,994 shares during the last quarter. 86.07% of the stock is currently owned by hedge funds and other institutional investors.

About Global Blood Therapeutics

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 is developing its initial product candidate, GBT440, as an oral, once-daily therapy for sickle cell disease (SCD).

Analyst Recommendations for Global Blood Therapeutics (NASDAQ:GBT)

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