Cowen Reiterates Buy Rating for Global Blood Therapeutics (NASDAQ:GBT)

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Global Blood Therapeutics (NASDAQ:GBT)‘s stock had its “buy” rating reissued by analysts at Cowen in a report issued on Sunday, June 16th, AnalystRatings.com reports.

GBT has been the subject of a number of other research reports. BidaskClub upgraded shares of Global Blood Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 30th. Goldman Sachs Group restated a “neutral” rating and issued a $75.00 price objective on shares of Global Blood Therapeutics in a research report on Wednesday, May 29th. Wedbush restated a “buy” rating and issued a $107.00 price objective (up previously from $95.00) on shares of Global Blood Therapeutics in a research report on Monday, June 3rd. HC Wainwright set a $150.00 price target on shares of Global Blood Therapeutics and gave the company a “buy” rating in a research report on Friday, April 12th. Finally, Oppenheimer lifted their price target on shares of Global Blood Therapeutics from $82.00 to $89.00 and gave the company an “outperform” rating in a research report on Thursday, May 9th. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Global Blood Therapeutics has a consensus rating of “Buy” and an average price target of $87.46.

Shares of GBT stock traded up $1.65 during mid-day trading on Friday, hitting $55.58. 1,018,882 shares of the stock were exchanged, compared to its average volume of 795,972. The firm’s fifty day moving average price is $58.24. The company has a market capitalization of $3.14 billion, a PE ratio of -16.30 and a beta of 1.52. Global Blood Therapeutics has a 12-month low of $30.15 and a 12-month high of $64.94. The company has a quick ratio of 14.51, a current ratio of 14.51 and a debt-to-equity ratio of 0.04.

Global Blood Therapeutics (NASDAQ:GBT) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.87) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.94) by $0.07. As a group, analysts anticipate that Global Blood Therapeutics will post -3.82 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in the business. State Board of Administration of Florida Retirement System grew its stake in Global Blood Therapeutics by 1.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 25,279 shares of the company’s stock worth $1,338,000 after acquiring an additional 310 shares during the period. BNP Paribas Arbitrage SA grew its stake in shares of Global Blood Therapeutics by 3.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 12,522 shares of the company’s stock valued at $663,000 after buying an additional 447 shares during the period. Metropolitan Life Insurance Co NY grew its stake in shares of Global Blood Therapeutics by 3.4% during the 1st quarter. Metropolitan Life Insurance Co NY now owns 16,873 shares of the company’s stock valued at $893,000 after buying an additional 562 shares during the period. Bank of Montreal Can grew its stake in shares of Global Blood Therapeutics by 61.9% during the 4th quarter. Bank of Montreal Can now owns 1,582 shares of the company’s stock valued at $65,000 after buying an additional 605 shares during the period. Finally, JGP Global Gestao de Recursos Ltda. grew its stake in shares of Global Blood Therapeutics by 10.5% during the 1st quarter. JGP Global Gestao de Recursos Ltda. now owns 6,370 shares of the company’s stock valued at $337,000 after buying an additional 606 shares during the period.

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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