BidaskClub upgraded shares of Global Blood Therapeutics, Inc. (NASDAQ:GBT) from a hold rating to a buy rating in a report issued on Wednesday morning.

GBT has been the topic of several other research reports. Oppenheimer Holdings, Inc. set a $53.00 price objective on shares of Global Blood Therapeutics and gave the company a buy rating in a report on Monday. J P Morgan Chase & Co reiterated a buy rating on shares of Global Blood Therapeutics in a report on Monday, October 23rd. Zacks Investment Research upgraded shares of Global Blood Therapeutics from a hold rating to a buy rating and set a $36.00 target price on the stock in a report on Tuesday, October 10th. Needham & Company LLC started coverage on shares of Global Blood Therapeutics in a report on Wednesday, September 20th. They issued a buy rating and a $51.00 target price on the stock. Finally, Morgan Stanley restated an overweight rating and issued a $56.00 target price (up previously from $51.00) on shares of Global Blood Therapeutics in a report on Friday, October 6th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $54.08.

Global Blood Therapeutics (NASDAQ:GBT) last announced its quarterly earnings data on Monday, August 7th. The company reported ($0.55) earnings per share for the quarter, beating the consensus estimate of ($0.61) by $0.06. During the same quarter last year, the business posted ($0.58) EPS.

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In other Global Blood Therapeutics news, VP Peter Radovich sold 12,500 shares of the company’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $35.00, for a total value of $437,500.00. Following the completion of the sale, the vice president now directly owns 2,684 shares of the company’s stock, valued at approximately $93,940. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles J. Homcy sold 70,000 shares of the company’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $33.97, for a total transaction of $2,377,900.00. Following the completion of the sale, the director now directly owns 83,328 shares of the company’s stock, valued at $2,830,652.16. The disclosure for this sale can be found here. Insiders sold a total of 91,500 shares of company stock worth $3,093,350 in the last 90 days. 5.30% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Parametric Portfolio Associates LLC grew its position in shares of Global Blood Therapeutics by 0.9% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 30,943 shares of the company’s stock valued at $846,000 after acquiring an additional 284 shares during the period. Legal & General Group Plc grew its position in shares of Global Blood Therapeutics by 10.1% during the 1st quarter. Legal & General Group Plc now owns 4,816 shares of the company’s stock valued at $178,000 after acquiring an additional 440 shares during the period. Fiduciary Trust Co. grew its position in shares of Global Blood Therapeutics by 7.8% during the 3rd quarter. Fiduciary Trust Co. now owns 23,580 shares of the company’s stock valued at $732,000 after acquiring an additional 1,701 shares during the period. American International Group Inc. grew its position in shares of Global Blood Therapeutics by 24.1% during the 1st quarter. American International Group Inc. now owns 10,031 shares of the company’s stock valued at $370,000 after acquiring an additional 1,945 shares during the period. Finally, Alps Advisors Inc. grew its position in shares of Global Blood Therapeutics by 7.9% during the 2nd quarter. Alps Advisors Inc. now owns 39,366 shares of the company’s stock valued at $1,077,000 after acquiring an additional 2,874 shares during the period. 86.22% of the stock is 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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