Wedbush reiterated their neutral rating on shares of Global Blood Therapeutics (NASDAQ:GBT – Get Rating) in a research note issued to investors on Monday, Marketbeat reports. Wedbush also issued estimates for Global Blood Therapeutics' Q3 2022 earnings at ($1.35) EPS, Q4 2022 earnings at ($1.31) EPS, FY2022 earnings at ($5.17) EPS, Q1 2023 earnings at ($1.28) EPS, Q2 2023 earnings at ($1.31) EPS, Q3 2023 earnings at ($1.36) EPS, Q4 2023 earnings at ($0.67) EPS, FY2023 earnings at ($4.62) EPS, FY2024 earnings at ($1.44) EPS, FY2025 earnings at ($0.14) EPS and FY2026 earnings at $3.41 EPS.
A number of other research firms have also commented on GBT. JPMorgan Chase & Co. reduced their target price on Global Blood Therapeutics from $39.00 to $36.00 and set a neutral rating for the company in a report on Tuesday, June 28th. Canaccord Genuity Group raised Global Blood Therapeutics from a hold rating to a buy rating and lifted their target price for the stock from $40.00 to $72.00 in a report on Monday. StockNews.com raised Global Blood Therapeutics from a sell rating to a hold rating in a report on Thursday, May 5th. Canaccord Genuity Group raised Global Blood Therapeutics from a hold rating to a buy rating and lifted their target price for the stock from $40.00 to $72.00 in a report on Monday. Finally, William Blair lowered Global Blood Therapeutics from an outperform rating to a market perform rating in a report on Monday. Ten investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $65.04.
Get Global Blood Therapeutics alerts:Global Blood Therapeutics Trading Down 0.4 %
GBT opened at $66.57 on Monday. Global Blood Therapeutics has a 52 week low of $21.65 and a 52 week high of $73.02. The company has a quick ratio of 7.74, a current ratio of 6.88 and a debt-to-equity ratio of 4.92. The stock has a market cap of $4.33 billion, a PE ratio of -13.29 and a beta of 0.83. The business has a 50 day moving average of $34.55 and a 200-day moving average of $31.84.
Global Blood Therapeutics (NASDAQ:GBT – Get Rating) last posted its quarterly earnings data on Monday, August 8th. The company reported ($1.26) earnings per share for the quarter, missing analysts' consensus estimates of ($1.19) by ($0.07). Global Blood Therapeutics had a negative net margin of 137.30% and a negative return on equity of 170.37%. The company had revenue of $71.55 million for the quarter, compared to the consensus estimate of $64.39 million. During the same period last year, the business earned ($1.12) EPS. Equities research analysts predict that Global Blood Therapeutics will post -4.65 earnings per share for the current fiscal year.Insider Transactions at Global Blood Therapeutics
In other Global Blood Therapeutics news, Director Philip A. Pizzo sold 1,260 shares of the business's stock in a transaction that occurred on Tuesday, June 21st. The stock was sold at an average price of $27.25, for a total transaction of $34,335.00. Following the sale, the director now directly owns 9,112 shares of the company's stock, valued at $248,302. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.90% of the company's stock.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of the business. Eubel Brady & Suttman Asset Management Inc. purchased a new stake in Global Blood Therapeutics during the first quarter worth $17,322,000. Deep Track Capital LP purchased a new stake in Global Blood Therapeutics during the fourth quarter worth $58,540,000. Goldman Sachs Group Inc. lifted its holdings in Global Blood Therapeutics by 48.2% during the first quarter. Goldman Sachs Group Inc. now owns 1,833,720 shares of the company's stock worth $63,520,000 after buying an additional 595,983 shares during the period. Fairmount Funds Management LLC lifted its holdings in Global Blood Therapeutics by 59.1% during the first quarter. Fairmount Funds Management LLC now owns 1,182,307 shares of the company's stock worth $40,955,000 after buying an additional 439,307 shares during the period. Finally, Quinn Opportunity Partners LLC purchased a new stake in shares of Global Blood Therapeutics during the 1st quarter valued at $1,249,000.
Global Blood Therapeutics Company Profile
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Global Blood Therapeutics, Inc, a biopharmaceutical company, engages in the discovery, development, and delivery of treatments for underserved patient communities with sickle cell disease (SCD). The company offers Oxbryta tablets, an oral, once-daily therapy for SCD. It also evaluates the safety and pharmacokinetics of single and multiple doses of Oxbryta in a Phase II a clinical trial of adolescent and pediatric patients with SCD.
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