Global Blood Therapeutics, Inc. (GBT) Announces Quarterly Earnings Results
Global Blood Therapeutics, Inc. (NASDAQ:GBT) released its quarterly earnings data on Thursday. The company reported ($0.66) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.62) by ($0.04), Briefing.com reports. During the same quarter last year, the company posted ($0.58) EPS.
Global Blood Therapeutics (NASDAQ:GBT) traded up $2.50 during mid-day trading on Friday, reaching $41.55. 2,445,788 shares of the company traded hands, compared to its average volume of 1,074,886.
In other Global Blood Therapeutics news, Director Charles J. Homcy sold 70,000 shares of the firm’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $33.97, for a total value of $2,377,900.00. Following the sale, the director now directly owns 83,328 shares of the company’s stock, valued at approximately $2,830,652.16. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Peter Radovich sold 12,500 shares of the firm’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $35.00, for a total value of $437,500.00. Following the completion of the sale, the vice president now directly owns 2,684 shares in the company, valued at $93,940. The disclosure for this sale can be found here. In the last quarter, insiders have sold 91,500 shares of company stock valued at $3,093,350. 5.30% of the stock is currently owned by company insiders.
GBT has been the subject of several analyst reports. Morgan Stanley restated an “overweight” rating on shares of Global Blood Therapeutics in a report on Tuesday, July 11th. BidaskClub lowered shares of Global Blood Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Wedbush restated an “ourperform” rating and issued a $73.00 target price on shares of Global Blood Therapeutics in a report on Monday, September 18th. Zacks Investment Research upgraded shares of Global Blood Therapeutics from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a report on Tuesday, October 10th. Finally, Oppenheimer Holdings, Inc. initiated coverage on shares of Global Blood Therapeutics in a report on Friday, August 4th. They issued an “outperform” rating and a $53.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Global Blood Therapeutics presently has a consensus rating of “Buy” and an average target price of $54.08.
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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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