Brokerages expect Global Blood Therapeutics Inc (NASDAQ:GBT) to post earnings of ($0.91) per share for the current quarter, Zacks reports. Zero analysts have provided estimates for Global Blood Therapeutics’ earnings. The highest EPS estimate is ($0.83) and the lowest is ($1.02). Global Blood Therapeutics reported earnings per share of ($0.60) in the same quarter last year, which indicates a negative year over year growth rate of 51.7%. The firm is scheduled to issue its next quarterly earnings results on Monday, May 7th.
On average, analysts expect that Global Blood Therapeutics will report full year earnings of ($3.72) per share for the current financial year, with EPS estimates ranging from ($4.27) to ($3.26). For the next fiscal year, analysts forecast that the business will post earnings of ($3.87) per share, with EPS estimates ranging from ($4.41) to ($3.08). Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Global Blood Therapeutics.
Global Blood Therapeutics (NASDAQ:GBT) last posted its earnings results on Tuesday, February 27th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.22).
A number of analysts have recently issued reports on GBT shares. Wedbush restated an “outperform” rating and set a $73.00 target price on shares of Global Blood Therapeutics in a research note on Friday, December 15th. Needham & Company LLC lifted their price objective on shares of Global Blood Therapeutics from $51.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, December 14th. William Blair assumed coverage on shares of Global Blood Therapeutics in a research note on Tuesday, January 23rd. They issued an “outperform” rating and a $80.00 price objective for the company. BidaskClub cut shares of Global Blood Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 20th. Finally, Zacks Investment Research cut shares of Global Blood Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, March 6th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and twelve have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $70.69.
NASDAQ GBT opened at $46.70 on Tuesday. Global Blood Therapeutics has a 52-week low of $24.02 and a 52-week high of $68.05.
In other news, insider Peter Radovich sold 812 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $57.30, for a total value of $46,527.60. Following the completion of the transaction, the insider now directly owns 6,221 shares in the company, valued at approximately $356,463.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jung Choi sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $62.95, for a total transaction of $188,850.00. Following the completion of the transaction, the insider now owns 140,877 shares of the company’s stock, valued at $8,868,207.15. The disclosure for this sale can be found here. Insiders sold a total of 39,911 shares of company stock valued at $2,362,352 in the last quarter. Corporate insiders own 5.30% of the company’s stock.
Several large investors have recently modified their holdings of GBT. Jane Street Group LLC bought a new stake in shares of Global Blood Therapeutics during the 3rd quarter valued at approximately $200,000. Xact Kapitalforvaltning AB bought a new stake in shares of Global Blood Therapeutics during the 4th quarter valued at approximately $202,000. First Republic Investment Management Inc. bought a new stake in shares of Global Blood Therapeutics during the 3rd quarter valued at approximately $237,000. Ladenburg Thalmann Financial Services Inc. grew its holdings in shares of Global Blood Therapeutics by 5,980.0% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,080 shares of the company’s stock valued at $239,000 after purchasing an additional 5,980 shares during the last quarter. Finally, Focused Wealth Management Inc bought a new stake in shares of Global Blood Therapeutics during the 4th quarter valued at approximately $252,000. Institutional investors own 85.40% of the company’s stock.
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About Global Blood Therapeutics
Global Blood Therapeutics Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of novel therapeutics to treat grievous blood-based disorders. Its lead product candidate is voxelotor, an oral once-daily therapy that modulates hemoglobin's affinity for oxygen, which is in Phase 3 clinical trials in adult and adolescent patients with sickle cell disease (SCD), as well as in evaluating the safety and pharmacokinetics of single and multiple doses of voxelotor in a Phase 2a clinical trial of adolescent and pediatric patients with SCD.
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