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).
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