Notable Reporting: Could Global Blood Therapeutics Inc Change Direction After Today’s Significant Increase?

Notable Reporting: Could Global Blood Therapeutics Inc Change Direction After Today's Significant Increase?

The stock of Global Blood Therapeutics Inc (NASDAQ:GBT) is a huge mover today! About 1.28M shares traded hands or 234.33% up from the average. Global Blood Therapeutics Inc (NASDAQ:GBT) has risen 37.59% since February 26, 2016 and is uptrending. It has outperformed by 27.17% the S&P500.
The move comes after 7 months positive chart setup for the $805.46M company. It was reported on Sep, 30 by Barchart.com. We have $35.96 PT which if reached, will make NASDAQ:GBT worth $451.06M more.

Analysts await Global Blood Therapeutics Inc (NASDAQ:GBT) to report earnings on November, 10. They expect $-0.59 earnings per share, up 34.44% or $0.31 from last year’s $-0.9 per share. After $-0.58 actual earnings per share reported by Global Blood Therapeutics Inc for the previous quarter, Wall Street now forecasts 1.72% negative EPS growth.

Global Blood Therapeutics Inc (NASDAQ:GBT) Ratings Coverage

Out of 4 analysts covering Global Blood Therapeutics (NASDAQ:GBT), 4 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Global Blood Therapeutics has been the topic of 6 analyst reports since September 8, 2015 according to StockzIntelligence Inc. Wedbush initiated the stock with “Outperform” rating in Tuesday, September 8 report. The company was maintained on Friday, June 17 by Empire. Goldman Sachs initiated it with “Neutral” rating and $44.0 target price in Tuesday, September 8 report. Morgan Stanley initiated the shares of GBT in a report on Tuesday, September 8 with “Overweight” rating. Cowen & Co initiated the stock with “Outperform” rating in Tuesday, September 8 report.

According to Zacks Investment Research, “Global Blood Therapeutics, Inc. is a biopharmaceutical company which is engaged in discovering, developing and commercializing novel therapeutics to treat grievous blood-based disorders. Its product candidate consists of GBT440 is an oral, once-daily prophylactic therapy for sickle cell disease which is in clinical trial. The company in addition to GBT is involved in research and development activities targeted hypoxemic pulmonary disorders, including idiopathic pulmonary fibrosis and hereditary angioedema. Global Blood Therapeutics, Inc. is based in South San Francisco, California.”

More notable recent Global Blood Therapeutics Inc (NASDAQ:GBT) news were published by: Fool.com which released: “Why Global Blood Therapeutics Inc Shares Are Tanking Today” on December 07, 2015, also Marketwatch.com with their article: “Global Blood Therapeutics shares jump after positive results for pivotal drug” published on June 10, 2016, Prnewswire.com published: “Global Blood Therapeutics Announces Appointment of Jeffrey Farrow as CFO” on April 04, 2016. More interesting news about Global Blood Therapeutics Inc (NASDAQ:GBT) were released by: Prnewswire.com and their article: “Global Blood Therapeutics Reports Recent Business Progress and Provides First …” published on May 12, 2016 as well as Prnewswire.com‘s news article titled: “Global Blood Therapeutics Reports Recent Business Progress and Provides Fourth …” with publication date: March 29, 2016.

GBT Company Profile

Global Blood Therapeutics, Inc., incorporated on February 04, 2011, is a clinical-stage biopharmaceutical company. The Firm is engaged in discovering, developing and commercializing therapeutics to treat blood disorders. The Company’s segment is engaged in discovering, developing and commercializing therapeutics to treat blood disorders. The Firm is developing its initial product candidate, GBT440, as an oral, once-daily therapy for sickle cell disease (SCD) and is evaluating GBT440 in SCD subjects in an ongoing Phase I/II clinical trial. SCD is a genetic disease marked by red blood cell (RBC) destruction and occluded blood flow and hypoxia, leading to anemia, stroke, multi-organ failure, severe pain crises, and shortened patient life span. GBT440 inhibits abnormal hemoglobin polymerization, the underlying mechanism of RBC sickling. The Firm is also engaged in other research and development activities targeted towards hereditary angioedema (HAE). HAE is a rare, genetic disorder characterized by severe and potentially life-threatening systemic inflammation.

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