Global Blood Therapeutics Inc (NASDAQ:GBT) – Research analysts at Oppenheimer upped their FY2020 earnings per share estimates for Global Blood Therapeutics in a note issued to investors on Tuesday. Oppenheimer analyst M. Breidenbach now forecasts that the company will post earnings of ($0.88) per share for the year, up from their previous estimate of ($1.72). Oppenheimer currently has a “Buy” rating and a $79.00 target price on the stock. Oppenheimer also issued estimates for Global Blood Therapeutics’ FY2021 earnings at $5.45 EPS.
Global Blood Therapeutics (NASDAQ:GBT) last posted its earnings results on Thursday, November 2nd. The company reported ($0.66) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.62) by ($0.04). During the same period last year, the firm posted ($0.58) earnings per share.
Several other research firms have also recently commented on GBT. Cantor Fitzgerald set a $61.00 target price on Global Blood Therapeutics and gave the stock a “buy” rating in a research report on Monday. HC Wainwright set a $73.00 target price on Global Blood Therapeutics and gave the stock a “buy” rating in a research report on Monday. Nomura boosted their target price on Global Blood Therapeutics to $91.00 and gave the stock a “buy” rating in a research report on Monday. BidaskClub upgraded Global Blood Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Finally, ValuEngine cut Global Blood Therapeutics from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Global Blood Therapeutics currently has an average rating of “Buy” and a consensus price target of $62.07.
Global Blood Therapeutics (NASDAQ GBT) traded down $3.15 during trading on Thursday, reaching $36.25. The company had a trading volume of 3,960,441 shares, compared to its average volume of 1,041,337. Global Blood Therapeutics has a twelve month low of $13.35 and a twelve month high of $45.85.
In other news, insider Jung Choi sold 3,000 shares of the company’s stock in a transaction dated Tuesday, October 17th. The stock was sold at an average price of $32.65, for a total value of $97,950.00. Following the completion of the transaction, the insider now directly owns 138,455 shares in the company, valued at approximately $4,520,555.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Peter Radovich sold 12,500 shares of the business’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $35.00, for a total value of $437,500.00. Following the completion of the sale, the vice president now directly owns 2,684 shares of the company’s stock, valued at approximately $93,940. The disclosure for this sale can be found here. Insiders sold a total of 88,500 shares of company stock valued at $3,003,350 over the last quarter. Company insiders own 5.30% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA lifted its stake in shares of Global Blood Therapeutics by 694.9% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,547 shares of the company’s stock valued at $124,000 after acquiring an additional 3,975 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Global Blood Therapeutics in the 3rd quarter valued at about $200,000. Trexquant Investment LP bought a new stake in shares of Global Blood Therapeutics in the 3rd quarter valued at about $202,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Global Blood Therapeutics in the 3rd quarter valued at about $205,000. Finally, Bank of America Corp DE lifted its stake in shares of Global Blood Therapeutics by 103.6% in the 1st quarter. Bank of America Corp DE now owns 7,141 shares of the company’s stock valued at $263,000 after acquiring an additional 3,633 shares during the last quarter. 90.48% of the stock is owned by institutional investors.
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Global Blood Therapeutics Company Profile
Global Blood Therapeutics, Inc is a clinical-stage biopharmaceutical company. The Company is engaged in discovering, developing and commercializing therapeutics to treat blood-based disorders. The Company is developing its initial product candidate, GBT440, as an oral, once-daily therapy for sickle cell disease (SCD).
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