Global Blood Therapeutics Inc (NASDAQ:GBT) – Equities researchers at Oppenheimer issued their FY2022 earnings per share (EPS) estimates for shares of Global Blood Therapeutics in a report released on Thursday. Oppenheimer analyst M. Breidenbach expects that the company will post earnings per share of $4.30 for the year. Oppenheimer has a “Buy” rating and a $79.00 price target on the stock.
Global Blood Therapeutics (NASDAQ:GBT) last released its quarterly 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 quarter in the previous year, the firm earned ($0.58) EPS.
Several other analysts have also commented on GBT. HC Wainwright set a $73.00 price target on shares of Global Blood Therapeutics and gave the company a “buy” rating in a research report on Thursday. BidaskClub upgraded Global Blood Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, September 27th. Needham & Company LLC set a $51.00 price objective on Global Blood Therapeutics and gave the company a “buy” rating in a research note on Tuesday, October 24th. Zacks Investment Research downgraded Global Blood Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday, October 16th. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of Global Blood Therapeutics in a research note on Monday, October 23rd. One research analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $62.07.
Global Blood Therapeutics (GBT) traded up $0.15 during mid-day trading on Friday, hitting $56.60. 968,595 shares of the stock traded hands, compared to its average volume of 1,600,000. The stock has a market cap of $2,600.00 and a price-to-earnings ratio of -22.20. Global Blood Therapeutics has a 1 year low of $14.70 and a 1 year high of $57.75.
In other news, Director Charles J. Homcy sold 70,000 shares of the company’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $33.97, for a total transaction of $2,377,900.00. Following the transaction, the director now owns 83,328 shares of the company’s stock, valued at approximately $2,830,652.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Peter Radovich sold 15,000 shares of the company’s stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $50.00, for a total value of $750,000.00. Following the transaction, the insider now directly owns 17,684 shares in the company, valued at approximately $884,200. The disclosure for this sale can be found here. Insiders sold a total of 103,500 shares of company stock valued at $3,773,000 in the last 90 days. Corporate insiders own 5.30% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of GBT. Perceptive Advisors LLC increased its position in shares of Global Blood Therapeutics by 8.4% during the 3rd quarter. Perceptive Advisors LLC now owns 4,264,066 shares of the company’s stock worth $132,399,000 after purchasing an additional 330,139 shares in the last quarter. BlackRock Inc. boosted its position in shares of Global Blood Therapeutics by 30.0% in the second quarter. BlackRock Inc. now owns 3,404,538 shares of the company’s stock valued at $93,114,000 after acquiring an additional 785,691 shares during the period. Vanguard Group Inc. lifted its position in Global Blood Therapeutics by 15.7% during the second quarter. Vanguard Group Inc. now owns 2,933,251 shares of the company’s stock worth $80,224,000 after purchasing an additional 397,271 shares during the period. Orbimed Advisors LLC lifted its position in Global Blood Therapeutics by 10.2% during the third quarter. Orbimed Advisors LLC now owns 2,393,635 shares of the company’s stock worth $74,322,000 after purchasing an additional 221,700 shares during the period. Finally, State Street Corp lifted its position in Global Blood Therapeutics by 217.9% during the second quarter. State Street Corp now owns 2,138,323 shares of the company’s stock worth $58,479,000 after purchasing an additional 1,465,595 shares during the period. 85.72% of the stock is currently owned by hedge funds and other 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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