Brokerages Anticipate Global Blood Therapeutics, Inc. (GBT) Will Announce Earnings of -$0.61 Per Share
Analysts expect Global Blood Therapeutics, Inc. (NASDAQ:GBT) to post earnings per share (EPS) of ($0.61) for the current quarter, according to Zacks Investment Research. Zero analysts have made estimates for Global Blood Therapeutics’ earnings. The lowest EPS estimate is ($0.71) and the highest is ($0.57). Global Blood Therapeutics posted earnings of ($0.58) per share during the same quarter last year, which suggests a negative year over year growth rate of 5.2%. The business is expected to issue its next earnings report on Wednesday, November 8th.
On average, analysts expect that Global Blood Therapeutics will report full year earnings of ($2.42) per share for the current financial year, with EPS estimates ranging from ($2.78) to ($2.31). For the next fiscal year, analysts forecast that the firm will post earnings of ($2.83) per share, with EPS estimates ranging from ($4.10) to ($2.25). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that follow Global Blood Therapeutics.
Global Blood Therapeutics (NASDAQ:GBT) last issued its quarterly earnings data on Monday, August 7th. The company reported ($0.55) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.06. During the same quarter in the prior year, the business posted ($0.58) earnings per share.
Several analysts have issued reports on the company. ValuEngine raised Global Blood Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. BidaskClub raised Global Blood Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, August 17th. Oppenheimer Holdings, Inc. assumed coverage on Global Blood Therapeutics in a research note on Friday, August 4th. They issued an “outperform” rating and a $53.00 target price for the company. Cowen and Company reaffirmed an “outperform” rating and issued a $83.00 target price on shares of Global Blood Therapeutics in a research note on Monday, August 14th. Finally, J P Morgan Chase & Co reaffirmed an “overweight” rating and issued a $46.00 target price (up previously from $44.00) on shares of Global Blood Therapeutics in a research note on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $49.73.
In related news, insider Jung Choi sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $30.00, for a total transaction of $90,000.00. Following the completion of the transaction, the insider now owns 143,255 shares in the company, valued at $4,297,650. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Deval L. Patrick sold 27,053 shares of the company’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $29.69, for a total value of $803,203.57. Following the transaction, the director now owns 12,053 shares of the company’s stock, valued at approximately $357,853.57. The disclosure for this sale can be found here. Insiders sold 33,053 shares of company stock valued at $983,204 in the last quarter. Corporate insiders own 5.30% of the company’s stock.
Several institutional investors have recently made changes to their positions in GBT. BlackRock Inc. raised its holdings in shares of Global Blood Therapeutics by 4,675.5% during the first quarter. BlackRock Inc. now owns 2,618,847 shares of the company’s stock valued at $96,503,000 after acquiring an additional 2,564,008 shares in the last quarter. State Street Corp raised its holdings in Global Blood Therapeutics by 217.9% in the second quarter. State Street Corp now owns 2,138,323 shares of the company’s stock worth $58,479,000 after purchasing an additional 1,465,595 shares in the last quarter. White Square Capital LLP bought a new position in Global Blood Therapeutics in the first quarter worth $53,593,000. Janus Henderson Group PLC bought a new position in Global Blood Therapeutics in the second quarter worth $26,919,000. Finally, Perceptive Advisors LLC raised its holdings in Global Blood Therapeutics by 23.3% in the first quarter. Perceptive Advisors LLC now owns 3,858,978 shares of the company’s stock worth $142,203,000 after purchasing an additional 730,000 shares in the last quarter. Institutional investors own 86.07% of the company’s stock.
ILLEGAL ACTIVITY WARNING: This piece was posted by American Banking News and is owned by of American Banking News. If you are reading this piece on another website, it was copied illegally and reposted in violation of United States & international copyright and trademark legislation. The original version of this piece can be read at https://www.americanbankingnews.com/2017/09/09/brokerages-anticipate-global-blood-therapeutics-inc-gbt-will-announce-earnings-of-0-61-per-share.html.
Shares of Global Blood Therapeutics (GBT) traded down 2.65% on Friday, reaching $27.60. 399,661 shares of the company were exchanged. The firm’s market capitalization is $1.21 billion. The stock’s 50-day moving average is $28.02 and its 200 day moving average is $30.03. Global Blood Therapeutics has a 12-month low of $13.35 and a 12-month high of $41.15.
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).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Global Blood Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Blood Therapeutics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.