Global Blood Therapeutics Inc (NASDAQ:GBT) – Research analysts at Piper Jaffray Companies cut their Q3 2019 earnings per share (EPS) estimates for shares of Global Blood Therapeutics in a research note issued on Monday, August 12th. Piper Jaffray Companies analyst D. Brill now forecasts that the company will earn ($1.04) per share for the quarter, down from their prior forecast of ($1.03). Piper Jaffray Companies also issued estimates for Global Blood Therapeutics’ Q4 2019 earnings at ($1.09) EPS, FY2019 earnings at ($4.03) EPS, Q1 2020 earnings at ($1.23) EPS, Q2 2020 earnings at ($1.19) EPS, Q3 2020 earnings at ($0.92) EPS, Q4 2020 earnings at ($0.59) EPS, FY2020 earnings at ($3.69) EPS, FY2021 earnings at ($1.12) EPS and FY2022 earnings at $1.25 EPS.
Global Blood Therapeutics (NASDAQ:GBT) last issued its earnings results on Wednesday, August 7th. The company reported ($1.01) EPS for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.05). During the same period in the previous year, the business posted ($0.78) EPS.
A number of other brokerages also recently commented on GBT. Morgan Stanley set a $60.00 target price on shares of Global Blood Therapeutics and gave the stock a “hold” rating in a research note on Friday, August 9th. BidaskClub downgraded shares of Global Blood Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Tuesday. Goldman Sachs Group reiterated a “neutral” rating and set a $75.00 target price on shares of Global Blood Therapeutics in a research note on Wednesday, May 29th. Cantor Fitzgerald set a $110.00 target price on shares of Global Blood Therapeutics and gave the stock a “buy” rating in a research note on Friday, June 14th. Finally, Cowen reiterated a “buy” rating and set a $83.00 target price on shares of Global Blood Therapeutics in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Global Blood Therapeutics currently has a consensus rating of “Buy” and an average target price of $88.33.
Shares of GBT stock opened at $46.68 on Wednesday. The company has a current ratio of 16.79, a quick ratio of 16.79 and a debt-to-equity ratio of 0.03. The firm has a fifty day moving average price of $53.99 and a 200 day moving average price of $54.82. The company has a market cap of $2.86 billion, a P/E ratio of -13.69 and a beta of 1.51. Global Blood Therapeutics has a 12 month low of $30.15 and a 12 month high of $64.94.
A number of institutional investors and hedge funds have recently made changes to their positions in GBT. Legal & General Group Plc grew its position in Global Blood Therapeutics by 20.6% during the 4th quarter. Legal & General Group Plc now owns 21,779 shares of the company’s stock worth $894,000 after acquiring an additional 3,714 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Global Blood Therapeutics by 497.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 492,420 shares of the company’s stock worth $20,214,000 after acquiring an additional 409,934 shares during the last quarter. Norges Bank bought a new position in Global Blood Therapeutics during the 4th quarter worth approximately $17,826,000. Geode Capital Management LLC grew its position in Global Blood Therapeutics by 15.5% during the 4th quarter. Geode Capital Management LLC now owns 619,730 shares of the company’s stock worth $25,439,000 after acquiring an additional 83,347 shares during the last quarter. Finally, Truvestments Capital LLC bought a new position in Global Blood Therapeutics during the 1st quarter worth approximately $33,000.
About Global Blood Therapeutics
Global Blood Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and delivery of treatments for underserved patient communities. It is developing its lead product candidate, voxelotor, an oral, once-daily therapy for sickle cell disease (SCD). The company is evaluating voxelotor in SCD in a Phase III clinical trial in adult and adolescent patients with SCD.
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