Global Blood Therapeutics (NASDAQ:GBT) Now Covered by StockNews.com

StockNews.com assumed coverage on shares of Global Blood Therapeutics (NASDAQ:GBTGet Rating) in a report issued on Monday. The firm issued a hold rating on the stock.

Other analysts also recently issued reports about the stock. Oppenheimer downgraded shares of Global Blood Therapeutics to a market perform rating in a research report on Monday, August 15th. Wells Fargo & Company downgraded Global Blood Therapeutics from an overweight rating to an equal weight rating and upped their target price for the stock from $66.00 to $68.50 in a research report on Tuesday, August 9th. Cowen cut Global Blood Therapeutics to a market perform rating and lifted their price target for the company from $67.00 to $68.50 in a research report on Tuesday, August 9th. Canaccord Genuity Group raised Global Blood Therapeutics from a hold rating to a buy rating and boosted their price objective for the stock from $40.00 to $72.00 in a research note on Monday, August 8th. Finally, Wedbush cut Global Blood Therapeutics to a neutral rating in a research note on Monday, August 15th. Twelve investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Global Blood Therapeutics presently has an average rating of Hold and a consensus price target of $65.42.

Global Blood Therapeutics Price Performance

Shares of GBT opened at $68.49 on Monday. Global Blood Therapeutics has a one year low of $21.65 and a one year high of $73.02. The stock’s fifty day moving average is $68.37 and its 200-day moving average is $50.85. The company has a debt-to-equity ratio of 4.92, a quick ratio of 6.17 and a current ratio of 6.88. The firm has a market capitalization of $4.62 billion, a price-to-earnings ratio of -13.67 and a beta of 0.45.

Hedge Funds Weigh In On Global Blood Therapeutics

A number of institutional investors have recently modified their holdings of GBT. SkyView Investment Advisors LLC grew its stake in Global Blood Therapeutics by 587.2% in the 1st quarter. SkyView Investment Advisors LLC now owns 804 shares of the company’s stock valued at $28,000 after buying an additional 687 shares during the last quarter. Longfellow Investment Management Co. LLC acquired a new stake in shares of Global Blood Therapeutics in the third quarter valued at about $36,000. China Universal Asset Management Co. Ltd. bought a new position in shares of Global Blood Therapeutics in the third quarter worth about $43,000. Nisa Investment Advisors LLC increased its stake in shares of Global Blood Therapeutics by 75.6% in the first quarter. Nisa Investment Advisors LLC now owns 1,510 shares of the company’s stock worth $52,000 after purchasing an additional 650 shares during the period. Finally, Mint Tower Capital Management B.V. acquired a new position in shares of Global Blood Therapeutics during the 3rd quarter worth about $54,000.

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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