Wall Street brokerages expect Global Blood Therapeutics Inc (NASDAQ:GBT) to announce earnings per share (EPS) of ($0.87) for the current quarter, Zacks reports. Zero analysts have provided estimates for Global Blood Therapeutics’ earnings, with the lowest EPS estimate coming in at ($0.96) and the highest estimate coming in at ($0.79). Global Blood Therapeutics posted earnings of ($0.55) per share during the same quarter last year, which would indicate a negative year over year growth rate of 58.2%. The firm is expected to announce its next quarterly earnings results on Monday, August 6th.
On average, analysts expect that Global Blood Therapeutics will report full year earnings of ($3.62) per share for the current financial year, with EPS estimates ranging from ($4.27) to ($3.23). For the next year, analysts forecast that the company will post earnings of ($3.90) per share, with EPS estimates ranging from ($4.39) to ($3.11). Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that follow Global Blood Therapeutics.
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Global Blood Therapeutics (NASDAQ:GBT) last issued its earnings results on Monday, May 7th. The company reported ($0.87) earnings per share for the quarter, topping the consensus estimate of ($0.91) by $0.04. During the same period last year, the business earned ($0.60) earnings per share.
Several brokerages have weighed in on GBT. BidaskClub lowered Global Blood Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, April 4th. HC Wainwright set a $73.00 price objective on Global Blood Therapeutics and gave the company a “buy” rating in a report on Thursday, May 24th. Wedbush reissued an “outperform” rating and set a $70.00 price objective on shares of Global Blood Therapeutics in a report on Monday, June 18th. Cantor Fitzgerald set a $69.00 price objective on Global Blood Therapeutics and gave the company a “buy” rating in a report on Wednesday, May 9th. Finally, Morgan Stanley lowered Global Blood Therapeutics from an “overweight” rating to an “equal weight” rating and set a $61.00 price objective on the stock. in a report on Wednesday, March 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Global Blood Therapeutics currently has an average rating of “Buy” and an average price target of $69.62.
In other news, insider Jung Choi sold 3,000 shares of the stock in a transaction dated Thursday, May 17th. The stock was sold at an average price of $48.25, for a total transaction of $144,750.00. Following the transaction, the insider now owns 136,077 shares of the company’s stock, valued at approximately $6,565,715.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.40% of the company’s stock.
A number of large investors have recently made changes to their positions in GBT. Perceptive Advisors LLC boosted its stake in Global Blood Therapeutics by 14.7% during the 4th quarter. Perceptive Advisors LLC now owns 4,889,066 shares of the company’s stock valued at $192,384,000 after purchasing an additional 625,000 shares during the period. Franklin Resources Inc. bought a new stake in Global Blood Therapeutics during the 1st quarter valued at approximately $30,023,000. RTW Investments LP boosted its stake in Global Blood Therapeutics by 2,186.9% during the 4th quarter. RTW Investments LP now owns 601,683 shares of the company’s stock valued at $23,676,000 after purchasing an additional 575,373 shares during the period. Millennium Management LLC boosted its stake in Global Blood Therapeutics by 4,463.4% during the 4th quarter. Millennium Management LLC now owns 479,838 shares of the company’s stock valued at $18,882,000 after purchasing an additional 469,323 shares during the period. Finally, Citadel Advisors LLC boosted its stake in Global Blood Therapeutics by 161.7% during the 4th quarter. Citadel Advisors LLC now owns 716,611 shares of the company’s stock valued at $28,199,000 after purchasing an additional 442,828 shares during the period. Hedge funds and other institutional investors own 95.54% of the company’s stock.
Global Blood Therapeutics traded up $0.70, hitting $42.05, during mid-day trading on Friday, Marketbeat reports. The stock had a trading volume of 2,105,744 shares, compared to its average volume of 938,717. Global Blood Therapeutics has a 1-year low of $24.02 and a 1-year high of $68.05. The firm has a market cap of $2.14 billion, a P/E ratio of -15.24 and a beta of 4.40.
Global Blood Therapeutics Company Profile
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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