Global Blood Therapeutics (GBT) Rating Lowered to Hold at Zacks Investment Research

A "hold" rating in a report issued on Friday.

According to Zacks, "Global Blood Therapeutics, Inc. is a biopharmaceutical company which is engaged in discovering, developing and commercializing novel therapeutics to treat heart-related disorders. Product candidate consists of GBT440 is an oral, once-daily prophylactic therapy for sickle cell disease which is in clinical trial. The company is in particular targeted for the development of hypoxemic pulmonary disorders, including idiopathic pulmonary fibrosis and hereditary angioedema. Global Blood Therapeutics, Inc. is based in South San Francisco, California. "

Other ValuEngine rai Sed shares of Global Blood Therapy from a "hold" rating to a "buy" rating in a research note on Monday, April 2nd. Cantor Fitzgerald set a $ 69.00. HC Wainwright set a $ 73.00 price. Global Blood Therapeutics and a "buy" rating on Thursday, May 10th. SunTrust Banks reduces their price objective on shares of Global Blood Therapeutics from $ 80.00 to $ 77.00 and sets a "buy" rating for the company in a research note on Tuesday, May 8th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $ 70.00 price point on Global Blood Therapeutics in a research note on Thursday, April 26th. One research badyst has a rating of two, one of which has been awarded a rating, and one of which has issued a strong buy rating to the company. Global Blood Therapeutics has an average rating of "Buy" and an average target price of $ 78.43.

Global Blood Therapeutics opened at $ 41.35 on Friday, according to Marketbeat.com. Global Blood Therapeutics has a 1-year low of $ 24.02 and a 1-year high of $ 68.05. The company has a market capitalization of $ 2.15 billion, a price-to-earnings ratio of -14.98 and a beta of 4.42.

Global Blood Therapeutics (NASDAQ: GBT) last released its quarterly earnings on Monday, May 7th. The company reported ($ 0.87) earnings per share for the quarter, topping the Thomson Reuters' consensus estimate of ($ 0.91) by $ 0.04. During the year, the company earns ($ 0.60) earnings per share. sell-side badysts predict that Global Blood Therapeutics will post -3.6 EPS for the current fiscal year.

In related news, insider Lesley Ann Calhoun sold 1,000 shares of the firm's stock in a transaction on Friday, July 6th. The shares were sold at an average price of $ 44.01, for a total transaction of $ 44,010.00. 1.388 shares of the company's stock, valued at $ 61,085.88. The transaction was disclosed in the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jung Choi sold 3,000 shares of the firm's stock in a transaction on Thursday, May 17th. The shares were sold at an average price of $ 48.25, for a total transaction of $ 144,750.00. Following the transaction, the insider now directly owns 136,077 shares of the company's stock, valued at $ 6,565,715.25. The disclosure for this sale can be found here. Over the last three months, 49.674 shares of stock stock valued at $ 2,173,615. Corporate insiders own 4.40% of the company's stock.

Institutional investors and hedge funds. Franklin Resources Inc. was acquired at $ 30,023,000 from Global Blood Therapeutics. Millennium Management LLC lifted its position in Global Blood Therapeutics by 4,463.4% during the fourth quarter. Millennium Management LLC now owns 479,838 shares of the company's stock valued at $ 18,882,000 after purchasing an additional 469,323 shares during the last quarter. Frontier Capital Management Co. LLC bought a new position in Global Blood Therapeutics during the first quarter valued at $ 9,268,000. Columbus Circle Investors bought a new position in Global Blood Therapeutics during the first quarter valued at $ 8,262,000. Finally, BNP Paribas Arbitrage SA lifted its position in Global Blood Therapeutics by 1.718.0% during the first quarter. BNP Paribas Arbitrage SA now owns 139,951 shares of the company's stock value at $ 6,760,000 after purchasing an additional 132,253 shares during the last quarter. 95.54% of the stock is owned by institutional investors.

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, 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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