Global Blood Therapeutics, Inc. (GBT) Forecasted to Post FY2018 Earnings of ($3.30) Per Share
Global Blood Therapeutics, Inc. (NASDAQ:GBT) – Analysts at SunTrust Banks boosted their FY2018 earnings estimates for Global Blood Therapeutics in a report issued on Monday. SunTrust Banks analyst Y. Suneja now expects that the company will earn ($3.30) per share for the year, up from their prior forecast of ($4.10). SunTrust Banks has a “Buy” rating and a $67.00 price target on the stock. SunTrust Banks also issued estimates for Global Blood Therapeutics’ FY2019 earnings at ($3.45) EPS, FY2020 earnings at ($3.55) EPS and FY2021 earnings at ($4.40) EPS.
Global Blood Therapeutics (NASDAQ:GBT) last released its earnings results on Thursday, November 2nd. The company reported ($0.66) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.62) by ($0.04). During the same quarter in the previous year, the business earned ($0.58) earnings per share.
Global Blood Therapeutics (NASDAQ:GBT) traded up $0.25 on Wednesday, reaching $40.00. The company’s stock had a trading volume of 579,600 shares, compared to its average volume of 989,377. Global Blood Therapeutics has a 12-month low of $13.35 and a 12-month high of $43.95.
In related news, insider Jung Choi sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 17th. The stock was sold at an average price of $32.65, for a total transaction of $97,950.00. Following the completion of the transaction, the insider now owns 138,455 shares in the company, valued at approximately $4,520,555.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Peter Radovich sold 12,500 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $35.00, for a total value of $437,500.00. Following the transaction, the vice president now owns 2,684 shares of the company’s stock, valued at approximately $93,940. The disclosure for this sale can be found here. Insiders have sold a total of 88,500 shares of company stock worth $3,003,350 in the last three months. 5.30% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the stock. Sphera Funds Management LTD. bought a new position in shares of Global Blood Therapeutics during the 2nd quarter worth approximately $4,103,000. Emory University bought a new position in shares of Global Blood Therapeutics during the 2nd quarter worth approximately $1,442,000. Marcus Capital LLC lifted its position in shares of Global Blood Therapeutics by 25.7% during the 2nd quarter. Marcus Capital LLC now owns 65,350 shares of the company’s stock worth $1,787,000 after buying an additional 13,350 shares during the period. Citigroup Inc. lifted its position in shares of Global Blood Therapeutics by 1,544.9% during the 2nd quarter. Citigroup Inc. now owns 87,819 shares of the company’s stock worth $2,402,000 after buying an additional 82,480 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in shares of Global Blood Therapeutics by 211.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 317,571 shares of the company’s stock worth $8,686,000 after buying an additional 215,690 shares during the period. Institutional investors and hedge funds own 90.48% of the company’s stock.
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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