Global Blood Therapeutics Inc (NASDAQ:GBT) – Analysts at William Blair dropped their Q1 2020 earnings per share estimates for shares of Global Blood Therapeutics in a research note issued to investors on Tuesday, March 17th. William Blair analyst R. Prasad now expects that the company will post earnings per share of ($1.84) for the quarter, down from their prior forecast of ($1.78). William Blair currently has a “Buy” rating on the stock. William Blair also issued estimates for Global Blood Therapeutics’ Q2 2020 earnings at ($1.84) EPS, Q3 2020 earnings at ($1.82) EPS, Q4 2020 earnings at ($1.76) EPS, FY2020 earnings at ($7.27) EPS, Q1 2021 earnings at ($1.70) EPS, Q2 2021 earnings at ($1.68) EPS, Q3 2021 earnings at ($1.66) EPS, Q4 2021 earnings at ($1.64) EPS and FY2021 earnings at ($6.68) EPS.
Global Blood Therapeutics (NASDAQ:GBT) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($1.73) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.24) by ($0.49). The company had revenue of $2.11 million during the quarter, compared to analyst estimates of $0.51 million.
A number of other research analysts also recently weighed in on GBT. ValuEngine raised Global Blood Therapeutics from a “hold” rating to a “buy” rating in a research note on Tuesday, March 3rd. Canaccord Genuity reissued a “hold” rating and issued a $60.00 price objective on shares of Global Blood Therapeutics in a research note on Wednesday. Morgan Stanley cut their price objective on Global Blood Therapeutics from $80.00 to $71.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 3rd. Janney Montgomery Scott lifted their price target on Global Blood Therapeutics from $75.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, BidaskClub downgraded Global Blood Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 14th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $96.43.
Shares of GBT stock opened at $45.06 on Friday. The stock’s 50 day simple moving average is $64.35 and its 200 day simple moving average is $62.73. The company has a debt-to-equity ratio of 0.25, a quick ratio of 8.77 and a current ratio of 8.79. Global Blood Therapeutics has a twelve month low of $39.95 and a twelve month high of $87.54. The company has a market capitalization of $2.81 billion, a price-to-earnings ratio of -9.93 and a beta of 1.62.
A number of hedge funds have recently made changes to their positions in GBT. Evolution Wealth Advisors LLC boosted its stake in Global Blood Therapeutics by 1,383.3% in the 4th quarter. Evolution Wealth Advisors LLC now owns 356 shares of the company’s stock valued at $28,000 after buying an additional 332 shares in the last quarter. Point72 Hong Kong Ltd boosted its stake in Global Blood Therapeutics by 3,290.9% in the 4th quarter. Point72 Hong Kong Ltd now owns 373 shares of the company’s stock valued at $30,000 after buying an additional 362 shares in the last quarter. US Bancorp DE boosted its stake in Global Blood Therapeutics by 6,772.7% in the 4th quarter. US Bancorp DE now owns 756 shares of the company’s stock valued at $60,000 after buying an additional 745 shares in the last quarter. Sowell Financial Services LLC acquired a new stake in Global Blood Therapeutics in the 4th quarter valued at $63,000. Finally, Advisor Group Inc. boosted its stake in Global Blood Therapeutics by 36.6% in the 4th quarter. Advisor Group Inc. now owns 1,145 shares of the company’s stock valued at $91,000 after buying an additional 307 shares in the last quarter. 97.93% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Ted W. Love sold 40,000 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $82.20, for a total value of $3,288,000.00. Following the sale, the insider now owns 1,112,673 shares of the company’s stock, valued at approximately $91,461,720.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Willie L. Jr. Brown purchased 10,000 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The stock was bought at an average cost of $52.37 per share, for a total transaction of $523,700.00. Following the purchase, the director now owns 31,428 shares in the company, valued at $1,645,884.36. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 53,885 shares of company stock worth $4,244,155. 4.30% of the stock is currently owned by company insiders.
Global Blood Therapeutics Company Profile
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.