Piper Sandler reissued their buy rating on shares of Global Blood Therapeutics (NASDAQ:GBT) in a research report released on Wednesday morning, TipRanks reports. Piper Sandler currently has a $120.00 target price on the stock. Piper Sandler also issued estimates for Global Blood Therapeutics’ Q2 2020 earnings at ($1.04) EPS, Q3 2020 earnings at ($1.04) EPS, Q4 2020 earnings at ($0.98) EPS, FY2020 earnings at ($4.24) EPS and FY2021 earnings at ($2.41) EPS.

GBT has been the subject of a number of other reports. Stifel Nicolaus began coverage on shares of Global Blood Therapeutics in a report on Monday, April 27th. They issued a buy rating and a $112.00 target price for the company. Nomura reissued a buy rating and issued a $112.00 target price on shares of Global Blood Therapeutics in a report on Thursday, May 7th. Morgan Stanley raised their target price on shares of Global Blood Therapeutics from $70.00 to $75.00 and gave the company an equal weight rating in a report on Thursday, May 7th. Canaccord Genuity reaffirmed a hold rating on shares of Global Blood Therapeutics in a research note on Thursday, June 25th. Finally, BidaskClub raised shares of Global Blood Therapeutics from a strong sell rating to a sell rating in a research note on Tuesday, July 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eighteen have given a buy rating to the stock. Global Blood Therapeutics presently has an average rating of Buy and an average price target of $105.65.

Global Blood Therapeutics stock opened at $67.48 on Wednesday. The stock has a market cap of $4.11 billion, a P/E ratio of -13.86 and a beta of 1.89. The company has a debt-to-equity ratio of 0.30, a current ratio of 9.07 and a quick ratio of 8.83. Global Blood Therapeutics has a 1 year low of $39.95 and a 1 year high of $87.54. The firm’s 50 day moving average price is $68.58 and its 200-day moving average price is $67.92.

Global Blood Therapeutics (NASDAQ:GBT) last posted its earnings results on Wednesday, May 6th. The company reported ($1.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.47) by $0.27. The business had revenue of $14.12 million during the quarter, compared to analysts’ expectations of $3.65 million. During the same period last year, the business posted ($0.87) earnings per share. As a group, equities analysts expect that Global Blood Therapeutics will post -4.43 EPS for the current year.

In related news, Director Mark L. Perry sold 53,600 shares of Global Blood Therapeutics stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $78.10, for a total value of $4,186,160.00. Following the completion of the sale, the director now directly owns 41,428 shares in the company, valued at $3,235,526.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Lesley Ann Calhoun sold 381 shares of Global Blood Therapeutics stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $77.05, for a total value of $29,356.05. Following the completion of the sale, the insider now owns 3,146 shares of the company’s stock, valued at $242,399.30. The disclosure for this sale can be found here. Insiders have sold 89,641 shares of company stock valued at $6,726,985 over the last three months. Insiders own 4.30% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in GBT. Point72 Hong Kong Ltd raised its holdings in shares of Global Blood Therapeutics by 3,290.9% in the fourth quarter. Point72 Hong Kong Ltd now owns 373 shares of the company’s stock valued at $30,000 after acquiring an additional 362 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in Global Blood Therapeutics by 62.0% in the first quarter. Steward Partners Investment Advisory LLC now owns 883 shares of the company’s stock worth $45,000 after purchasing an additional 338 shares in the last quarter. Truvestments Capital LLC bought a new position in Global Blood Therapeutics in the first quarter worth about $47,000. Focused Wealth Management Inc raised its holdings in Global Blood Therapeutics by 244.2% in the first quarter. Focused Wealth Management Inc now owns 1,175 shares of the company’s stock worth $60,000 after purchasing an additional 1,990 shares in the last quarter. Finally, Advisor Group Inc. raised its holdings in Global Blood Therapeutics by 36.6% in the fourth quarter. Advisor Group Inc. now owns 1,145 shares of the company’s stock worth $91,000 after purchasing an additional 307 shares in the last quarter.

Global Blood Therapeutics Company Profile

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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