Global Blood Therapeutics (NASDAQ:GBT) Shares Gap Down to $54.10

Global Blood Therapeutics Inc (NASDAQ:GBT) shares gapped down before the market opened on Thursday . The stock had previously closed at $49.90, but opened at $54.10. Global Blood Therapeutics shares last traded at $54.24, with a volume of 28,983 shares traded.

Several analysts have commented on GBT shares. Wells Fargo & Co lifted their target price on shares of Global Blood Therapeutics from $85.00 to $96.00 and gave the stock an “outperform” rating in a research note on Monday, April 1st. Morgan Stanley lifted their target price on shares of Global Blood Therapeutics from $55.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Monday, March 4th. BidaskClub raised shares of Global Blood Therapeutics from a “hold” rating to a “buy” rating in a research note on Saturday, April 13th. Cowen reaffirmed a “buy” rating on shares of Global Blood Therapeutics in a research note on Sunday, June 16th. Finally, Wedbush reaffirmed a “buy” rating and issued a $107.00 target price (up from $95.00) on shares of Global Blood Therapeutics in a research note on Monday, June 3rd. Three 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 company’s stock. The stock has an average rating of “Buy” and an average price target of $87.46.

The company’s fifty day simple moving average is $58.59. The company has a current ratio of 14.51, a quick ratio of 14.51 and a debt-to-equity ratio of 0.04.

Global Blood Therapeutics (NASDAQ:GBT) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.87) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.94) by $0.07. On average, research analysts expect that Global Blood Therapeutics Inc will post -3.82 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Emory University boosted its holdings in shares of Global Blood Therapeutics by 16.1% in the 4th quarter. Emory University now owns 62,643 shares of the company’s stock valued at $2,571,000 after purchasing an additional 8,692 shares during the last quarter. California State Teachers Retirement System boosted its holdings in shares of Global Blood Therapeutics by 2.4% in the 4th quarter. California State Teachers Retirement System now owns 78,261 shares of the company’s stock valued at $3,213,000 after purchasing an additional 1,819 shares during the last quarter. Neuburgh Advisers LLC acquired a new position in shares of Global Blood Therapeutics in the 4th quarter valued at $204,000. Bailard Inc. boosted its holdings in shares of Global Blood Therapeutics by 16.4% in the 1st quarter. Bailard Inc. now owns 63,900 shares of the company’s stock valued at $3,382,000 after purchasing an additional 9,000 shares during the last quarter. Finally, Stifel Financial Corp acquired a new position in shares of Global Blood Therapeutics in the 4th quarter valued at $439,000.

About Global Blood Therapeutics (NASDAQ:GBT)

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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