Global Blood Therapeutics (NASDAQ:GBT) Given a $96.00 Price Target by Cantor Fitzgerald Analysts
Global Blood Therapeutics (NASDAQ:GBT) has been assigned a $96.00 price objective by research analysts at Cantor Fitzgerald in a report issued on Thursday, August 23rd. The brokerage presently has a “buy” rating on the stock. Cantor Fitzgerald’s price target would indicate a potential upside of 128.30% from the company’s current price.
GBT has been the topic of several other research reports. Zacks Investment Research raised shares of Global Blood Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd. SunTrust Banks set a $70.00 price target on shares of Global Blood Therapeutics and gave the company a “buy” rating in a report on Sunday, August 5th. Wedbush reaffirmed an “outperform” rating and issued a $73.00 price target on shares of Global Blood Therapeutics in a report on Monday, August 6th. HC Wainwright upped their price target on shares of Global Blood Therapeutics from $73.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, June 27th. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $75.00 price target on shares of Global Blood Therapeutics in a report on Sunday, August 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $80.53.
GBT stock traded down $0.50 during trading on Thursday, reaching $42.05. 942,549 shares of the company were exchanged, compared to its average volume of 641,063. Global Blood Therapeutics has a 52-week low of $26.50 and a 52-week high of $68.05.
In related news, insider Lesley Ann Calhoun sold 3,295 shares of the company’s stock in a transaction that occurred on Monday, July 9th. The shares were sold at an average price of $44.19, for a total transaction of $145,606.05. Following the completion of the transaction, the insider now owns 1,388 shares of the company’s stock, valued at $61,335.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Deval L. Patrick sold 42,379 shares of the company’s stock in a transaction that occurred on Friday, July 6th. The stock was sold at an average price of $43.40, for a total transaction of $1,839,248.60. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $651,000. The disclosure for this sale can be found here. In the last three months, insiders sold 48,678 shares of company stock valued at $2,128,844. Company insiders own 4.40% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Hanseatic Management Services Inc. purchased a new stake in Global Blood Therapeutics during the first quarter worth approximately $170,000. Alps Advisors Inc. grew its stake in Global Blood Therapeutics by 27.4% during the first quarter. Alps Advisors Inc. now owns 61,706 shares of the company’s stock worth $2,980,000 after buying an additional 13,283 shares during the period. Oppenheimer & Co. Inc. purchased a new stake in Global Blood Therapeutics during the first quarter worth approximately $215,000. Frontier Capital Management Co. LLC purchased a new stake in Global Blood Therapeutics during the first quarter worth approximately $9,268,000. Finally, DekaBank Deutsche Girozentrale grew its stake in Global Blood Therapeutics by 143.2% during the first quarter. DekaBank Deutsche Girozentrale now owns 18,000 shares of the company’s stock worth $859,000 after buying an additional 10,600 shares during the period. 99.02% of the stock is owned by hedge funds and other institutional investors.
About Global Blood Therapeutics
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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