Global Blood Therapeutics, Inc. (NASDAQ:GBT) Receives Consensus Rating of “Buy” from Analysts

Global Blood Therapeutics, Inc. (NASDAQ:GBTGet Rating) has been assigned an average rating of “Buy” from the fifteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $55.42.

Several brokerages have weighed in on GBT. Cowen lowered their target price on Global Blood Therapeutics from $72.00 to $67.00 in a report on Thursday, February 24th. HC Wainwright reissued a “buy” rating and issued a $75.00 price target on shares of Global Blood Therapeutics in a research report on Thursday, February 24th. Cantor Fitzgerald initiated coverage on Global Blood Therapeutics in a research report on Thursday, April 28th. They issued a “buy” rating and a $75.00 price target for the company. Wedbush reissued an “outperform” rating on shares of Global Blood Therapeutics in a research report on Monday, March 28th. Finally, Oppenheimer reduced their target price on Global Blood Therapeutics from $86.00 to $71.00 in a research report on Thursday, May 5th.

A number of hedge funds have recently modified their holdings of the business. Thrivent Financial for Lutherans increased its holdings in shares of Global Blood Therapeutics by 0.6% in the third quarter. Thrivent Financial for Lutherans now owns 53,267 shares of the company’s stock valued at $1,357,000 after purchasing an additional 329 shares during the last quarter. Advisor Group Holdings Inc. increased its holdings in shares of Global Blood Therapeutics by 31.8% in the fourth quarter. Advisor Group Holdings Inc. now owns 1,865 shares of the company’s stock valued at $55,000 after purchasing an additional 450 shares during the last quarter. Endurant Capital Management LP increased its holdings in shares of Global Blood Therapeutics by 1.1% in the first quarter. Endurant Capital Management LP now owns 43,250 shares of the company’s stock valued at $1,498,000 after purchasing an additional 453 shares during the last quarter. US Bancorp DE increased its holdings in shares of Global Blood Therapeutics by 52.7% in the third quarter. US Bancorp DE now owns 1,385 shares of the company’s stock valued at $36,000 after purchasing an additional 478 shares during the last quarter. Finally, New York State Common Retirement Fund increased its holdings in shares of Global Blood Therapeutics by 1.1% in the first quarter. New York State Common Retirement Fund now owns 43,552 shares of the company’s stock valued at $1,509,000 after purchasing an additional 482 shares during the last quarter.

NASDAQ:GBT opened at $24.29 on Tuesday. The company has a debt-to-equity ratio of 4.34, a current ratio of 8.52 and a quick ratio of 7.74. Global Blood Therapeutics has a 1 year low of $22.67 and a 1 year high of $41.73. The stock’s 50 day simple moving average is $30.50 and its two-hundred day simple moving average is $29.95. The company has a market cap of $1.58 billion, a price-to-earnings ratio of -4.99 and a beta of 1.11.

Global Blood Therapeutics (NASDAQ:GBTGet Rating) last posted its quarterly earnings data on Wednesday, May 4th. The company reported ($1.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.29) by $0.03. Global Blood Therapeutics had a negative return on equity of 129.74% and a negative net margin of 146.82%. The company had revenue of $55.20 million during the quarter, compared to analysts’ expectations of $56.13 million. During the same quarter in the previous year, the business earned ($1.21) EPS. Global Blood Therapeutics’s revenue was up 41.5% compared to the same quarter last year. As a group, analysts anticipate that Global Blood Therapeutics will post -4.64 EPS for the current year.

Global Blood Therapeutics Company Profile (Get Rating)

Global Blood Therapeutics, Inc, a biopharmaceutical company, engages in the discovery, development, and delivery of treatments for underserved patient communities with sickle cell disease (SCD). The company offers Oxbryta tablets, an oral, once-daily therapy for SCD. It also evaluates the safety and pharmacokinetics of single and multiple doses of Oxbryta in a Phase II a clinical trial of adolescent and pediatric patients with SCD.

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Analyst Recommendations for Global Blood Therapeutics (NASDAQ:GBT)

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