Global Blood Therapeutics (NASDAQ:GBT)‘s stock had its “buy” rating reaffirmed by equities researchers at Cantor Fitzgerald in a note issued to investors on Wednesday, October 17th. They presently have a $96.00 price objective on the stock. Cantor Fitzgerald’s price target would indicate a potential upside of 140.66% from the stock’s previous close.
The analysts wrote, “Based on the existing clinical data, we believe voxelotor offers a compelling treatment option in SCD that lacks disease-modifying therapies. $96 price target is based on the combination of our estimate of the NPV of future cash flows from voxelotor in SCD, worth approximately $4.6 billion ($88/share), and our estimate of YE cash of $440 million ($8/share).””
A number of other equities research analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Global Blood Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, October 10th. BidaskClub downgraded shares of Global Blood Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 3rd. ValuEngine downgraded shares of Global Blood Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 2nd. HC Wainwright set a $125.00 target price on shares of Global Blood Therapeutics and gave the stock a “buy” rating in a research report on Thursday, September 13th. Finally, Cowen reaffirmed a “buy” rating and issued a $83.00 price target on shares of Global Blood Therapeutics in a report on Monday, August 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $80.20.
Global Blood Therapeutics (NASDAQ:GBT) last issued its quarterly earnings results on Tuesday, November 6th. The company reported ($0.83) EPS for the quarter, topping analysts’ consensus estimates of ($0.85) by $0.02. During the same quarter in the previous year, the company earned ($0.66) EPS. Research analysts predict that Global Blood Therapeutics will post -3.39 earnings per share for the current fiscal year.
In other news, insider Lesley Ann Calhoun sold 2,004 shares of the stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $49.89, for a total value of $99,979.56. Following the completion of the sale, the insider now directly owns 1,342 shares of the company’s stock, valued at $66,952.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.40% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. State of Wisconsin Investment Board increased its holdings in Global Blood Therapeutics by 40.6% in the second quarter. State of Wisconsin Investment Board now owns 52,300 shares of the company’s stock worth $2,364,000 after buying an additional 15,100 shares during the last quarter. Nexthera Capital LP increased its holdings in Global Blood Therapeutics by 28.2% in the second quarter. Nexthera Capital LP now owns 404,092 shares of the company’s stock worth $18,265,000 after buying an additional 88,945 shares during the last quarter. American Century Companies Inc. acquired a new position in Global Blood Therapeutics in the second quarter worth approximately $2,680,000. State Board of Administration of Florida Retirement System increased its holdings in Global Blood Therapeutics by 19.7% in the second quarter. State Board of Administration of Florida Retirement System now owns 23,669 shares of the company’s stock worth $1,070,000 after buying an additional 3,900 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in Global Blood Therapeutics in the second quarter worth approximately $366,000. 99.01% of the stock is owned by institutional investors and hedge funds.
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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