Global Blood Therapeutics, Inc. (NASDAQ:GBT) Announces Quarterly Earnings Results
Global Blood Therapeutics, Inc. (NASDAQ:GBT) posted its earnings results on Monday. The company reported ($0.55) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.61) by $0.06, Briefing.com reports. During the same quarter last year, the company earned ($0.58) EPS.
Shares of Global Blood Therapeutics (GBT) traded down 2.04% during midday trading on Monday, hitting $28.85. The stock had a trading volume of 652,192 shares. Global Blood Therapeutics has a 1-year low of $13.35 and a 1-year high of $41.15. The company’s 50 day moving average price is $28.28 and its 200-day moving average price is $28.34. The firm’s market capitalization is $1.26 billion.
In related news, insider Jung Choi sold 3,000 shares of the company’s stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $30.00, for a total value of $90,000.00. Following the transaction, the insider now owns 143,255 shares in the company, valued at approximately $4,297,650. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Deval L. Patrick sold 27,053 shares of the company’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $29.69, for a total transaction of $803,203.57. Following the completion of the transaction, the director now owns 12,053 shares in the company, valued at approximately $357,853.57. The disclosure for this sale can be found here. 5.30% of the stock is currently owned by corporate insiders.
Several equities analysts have commented on the stock. BidaskClub raised shares of Global Blood Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday. Oppenheimer Holdings, Inc. assumed coverage on shares of Global Blood Therapeutics in a research report on Friday. They set an “outperform” rating and a $53.00 target price on the stock. ValuEngine raised shares of Global Blood Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. Janney Montgomery Scott assumed coverage on shares of Global Blood Therapeutics in a research report on Monday, May 1st. They set a “buy” rating and a $37.00 target price on the stock. Finally, Morgan Stanley reissued an “overweight” rating on shares of Global Blood Therapeutics in a research report on Tuesday, July 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the stock. Global Blood Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $50.59.
Global Blood Therapeutics Company Profile
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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