Global Blood Therapeutics Inc (GBT) Coverage Initiated by Analysts at SunTrust Banks, Inc.
SunTrust Banks, Inc. initiated coverage on shares of Global Blood Therapeutics Inc (NASDAQ:GBT) in a research note released on Monday, April 17th. The brokerage issued a buy rating and a $56.00 price target on the stock.
Other analysts also recently issued research reports about the company. Roth Capital set a $47.00 target price on Global Blood Therapeutics and gave the company a buy rating in a research note on Saturday, February 18th. Zacks Investment Research downgraded Global Blood Therapeutics from a buy rating to a hold rating in a research note on Tuesday, January 17th. JPMorgan Chase & Co. started coverage on Global Blood Therapeutics in a research note on Wednesday, January 4th. They set an overweight rating and a $25.00 target price for the company. Wedbush reaffirmed an outperform rating and issued a $73.00 price target on shares of Global Blood Therapeutics in a report on Monday, March 20th. Finally, Nomura started coverage on Global Blood Therapeutics in a report on Wednesday, March 1st. They issued a buy rating for the company. One research analyst has rated the stock with a sell rating and eleven have assigned a buy rating to the company. The stock currently has an average rating of Buy and an average target price of $50.37.
Shares of Global Blood Therapeutics (NASDAQ:GBT) traded up 0.50% during midday trading on Monday, reaching $29.90. 527,794 shares of the company traded hands. The stock’s 50-day moving average is $33.14 and its 200-day moving average is $23.21. Global Blood Therapeutics has a 1-year low of $13.35 and a 1-year high of $41.15.
Global Blood Therapeutics (NASDAQ:GBT) last announced its earnings results on Monday, May 1st. The company reported ($0.60) earnings per share for the quarter, beating the consensus estimate of ($0.71) by $0.11. During the same period in the prior year, the company posted ($0.56) EPS. On average, equities analysts anticipate that Global Blood Therapeutics will post ($2.69) EPS for the current fiscal year.
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In related news, major shareholder Robert I. Tepper sold 31,225 shares of the firm’s stock in a transaction on Thursday, April 6th. The stock was sold at an average price of $33.23, for a total transaction of $1,037,606.75. Following the completion of the sale, the insider now directly owns 229,773 shares of the company’s stock, valued at approximately $7,635,356.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 6.10% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. TLP Group LLC purchased a new position in shares of Global Blood Therapeutics during the third quarter worth approximately $111,000. Daiwa SB Investments Ltd. purchased a new position in shares of Global Blood Therapeutics during the first quarter worth approximately $120,000. Great West Life Assurance Co. Can purchased a new position in shares of Global Blood Therapeutics during the first quarter worth approximately $129,000. Bessemer Group Inc. purchased a new position in shares of Global Blood Therapeutics during the fourth quarter worth approximately $335,000. Finally, Teachers Advisors LLC raised its position in shares of Global Blood Therapeutics by 19.3% in the fourth quarter. Teachers Advisors LLC now owns 29,682 shares of the company’s stock worth $429,000 after buying an additional 4,812 shares during the last quarter. Hedge funds and other institutional investors own 56.36% of the company’s stock.
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).
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