Global Blood Therapeutics’ (GBT) Outperform Rating Reiterated at Wedbush

Wedbush reissued their outperform rating on shares of Global Blood Therapeutics (NASDAQ:GBT) in a research note issued to investors on Monday morning. Wedbush also issued estimates for Global Blood Therapeutics’ Q2 2018 earnings at ($0.83) EPS, Q3 2018 earnings at ($0.86) EPS, Q4 2018 earnings at ($0.88) EPS, FY2018 earnings at ($3.44) EPS, Q1 2019 earnings at ($0.94) EPS, Q2 2019 earnings at ($0.94) EPS, Q3 2019 earnings at ($0.87) EPS, Q4 2019 earnings at ($0.90) EPS, FY2019 earnings at ($3.65) EPS, FY2020 earnings at ($2.87) EPS, FY2021 earnings at $0.20 EPS and FY2022 earnings at $4.35 EPS.

Several other analysts have also recently issued reports on GBT. Oppenheimer decreased their target price on shares of Global Blood Therapeutics from $79.00 to $74.00 and set an outperform rating on the stock in a research report on Tuesday, May 8th. Cantor Fitzgerald set a $69.00 price target on shares of Global Blood Therapeutics and gave the company a buy rating in a report on Wednesday, May 9th. HC Wainwright set a $73.00 price target on shares of Global Blood Therapeutics and gave the company a buy rating in a report on Thursday, May 10th. ValuEngine upgraded shares of Global Blood Therapeutics from a buy rating to a strong-buy rating in a report on Tuesday, May 8th. Finally, Zacks Investment Research upgraded shares of Global Blood Therapeutics from a sell rating to a hold rating in a report on Wednesday, May 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $69.85.

Shares of Global Blood Therapeutics opened at $47.20 on Monday, according to Marketbeat. The stock has a market cap of $2.37 billion, a PE ratio of -17.10 and a beta of 4.40. Global Blood Therapeutics has a 12-month low of $24.02 and a 12-month high of $68.05.

Global Blood Therapeutics (NASDAQ:GBT) last announced its earnings results on Monday, May 7th. The company reported ($0.87) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.91) by $0.04. During the same quarter in the previous year, the firm earned ($0.60) EPS. sell-side analysts anticipate that Global Blood Therapeutics will post -3.68 earnings per share for the current fiscal year.

In other Global Blood Therapeutics news, insider Jung Choi sold 3,000 shares of the company’s stock in a transaction dated Friday, March 16th. The shares were sold at an average price of $54.15, for a total value of $162,450.00. Following the transaction, the insider now directly owns 139,277 shares in the company, valued at approximately $7,541,849.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 9,099 shares of company stock worth $449,675 over the last quarter. 4.40% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the business. First Mercantile Trust Co. bought a new position in Global Blood Therapeutics in the 1st quarter worth about $142,000. Hanseatic Management Services Inc. bought a new position in Global Blood Therapeutics in the 1st quarter worth about $170,000. Princeton Capital Management LLC bought a new position in Global Blood Therapeutics in the 1st quarter worth about $193,000. Xact Kapitalforvaltning AB bought a new position in Global Blood Therapeutics in the 4th quarter worth about $202,000. Finally, Verition Fund Management LLC bought a new position in Global Blood Therapeutics in the 1st quarter worth about $210,000. Institutional investors and hedge funds own 95.43% of the company’s stock.

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 III clinical trials in adult and adolescent patients with sickle cell disease (SCD).

Analyst Recommendations for Global Blood Therapeutics (NASDAQ:GBT)

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