Brokerages forecast that Global Blood Therapeutics Inc (NASDAQ:GBT) will post earnings per share of ($0.69) for the current quarter, according to Zacks. Zero analysts have issued estimates for Global Blood Therapeutics’ earnings. The highest EPS estimate is ($0.52) and the lowest is ($0.82). Global Blood Therapeutics posted earnings per share of ($0.56) during the same quarter last year, which indicates a negative year over year growth rate of 23.2%. The company is expected to report its next earnings report on Thursday, May 11th.
According to Zacks, analysts expect that Global Blood Therapeutics will report full year earnings of ($2.83) per share for the current financial year, with EPS estimates ranging from ($3.50) to ($2.23). For the next fiscal year, analysts expect that the firm will post earnings of ($3.01) per share, with EPS estimates ranging from ($3.62) to ($2.38). Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that follow Global Blood Therapeutics.
Global Blood Therapeutics (NASDAQ:GBT) last issued its earnings results on Monday, March 13th. The company reported ($0.74) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.64) by $0.10. During the same quarter in the previous year, the business posted ($0.53) earnings per share.
Several research analysts have issued reports on the company. Cantor Fitzgerald assumed coverage on Global Blood Therapeutics in a report on Wednesday, March 15th. They issued an “overweight” rating and a $61.00 price target on the stock. Zacks Investment Research cut Global Blood Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, March 16th. Roth Capital set a $47.00 price target on Global Blood Therapeutics and gave the company a “buy” rating in a report on Monday, March 20th. Wedbush reissued an “outperform” rating and set a $73.00 target price on shares of Global Blood Therapeutics in a research note on Monday, March 20th. Finally, JPMorgan Chase & Co. reissued a “buy” rating and set a $44.00 target price on shares of Global Blood Therapeutics in a research note on Wednesday, March 15th. One research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. Global Blood Therapeutics currently has a consensus rating of “Buy” and an average target price of $51.23.
In other Global Blood Therapeutics news, major shareholder Robert I. Tepper sold 31,225 shares of the business’s stock in a transaction on Thursday, April 6th. The shares were sold at an average price of $33.23, for a total transaction of $1,037,606.75. Following the sale, the insider now directly owns 229,773 shares of the company’s stock, valued at approximately $7,635,356.79. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 6.10% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of the stock. TLP Group LLC bought a new position in Global Blood Therapeutics during the third quarter valued at approximately $111,000. Daiwa SB Investments Ltd. bought a new position in Global Blood Therapeutics during the first quarter valued at approximately $120,000. Bessemer Group Inc. bought a new position in Global Blood Therapeutics during the fourth quarter valued at approximately $335,000. Teachers Advisors LLC boosted its position in Global Blood Therapeutics by 19.3% in the fourth quarter. Teachers Advisors LLC now owns 29,682 shares of the company’s stock valued at $429,000 after buying an additional 4,812 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in Global Blood Therapeutics by 53.3% in the third quarter. Wells Fargo & Company MN now owns 20,744 shares of the company’s stock valued at $478,000 after buying an additional 7,212 shares in the last quarter. Institutional investors and hedge funds own 56.36% of the company’s stock.
Shares of Global Blood Therapeutics (NASDAQ:GBT) traded down 3.82% on Friday, reaching $30.25. The company had a trading volume of 784,372 shares. The company has a 50 day moving average price of $33.76 and a 200 day moving average price of $22.00. The stock’s market capitalization is $1.32 billion. Global Blood Therapeutics has a 52-week low of $13.35 and a 52-week high of $41.15.
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About Global Blood Therapeutics
Global Blood Therapeutics, Inc is a clinical-stage biopharmaceutical company. The Company is engaged in discovering, developing and commercializing therapeutics to treat blood-based disorders. The Company is developing its initial product candidate, GBT440, as an oral, once-daily therapy for sickle cell disease (SCD).
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