Global Blood Therapeutics, Inc. (GBT) to Post FY2017 Earnings of ($2.51) Per Share, Wedbush Forecasts
Global Blood Therapeutics, Inc. (NASDAQ:GBT) – Analysts at Wedbush reduced their FY2017 earnings per share estimates for shares of Global Blood Therapeutics in a report released on Monday. Wedbush analyst L. Moussatos now anticipates that the company will earn ($2.51) per share for the year, down from their previous estimate of ($2.34). Wedbush currently has a “Outperform” rating and a $73.00 price target on the stock. Wedbush also issued estimates for Global Blood Therapeutics’ Q4 2017 earnings at ($0.69) EPS, FY2018 earnings at ($2.99) EPS, FY2019 earnings at ($3.77) EPS, FY2020 earnings at ($3.39) EPS and FY2021 earnings at ($1.56) EPS.
A number of other research analysts have also commented on the company. Cowen reissued a “buy” rating and set a $83.00 price objective on shares of Global Blood Therapeutics in a report on Thursday, November 9th. Zacks Investment Research lowered Global Blood Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday, November 7th. Oppenheimer set a $53.00 price objective on Global Blood Therapeutics and gave the company a “buy” rating in a report on Monday, November 13th. SunTrust Banks increased their price objective on Global Blood Therapeutics to $67.00 and gave the company a “buy” rating in a report on Monday, November 6th. Finally, Morgan Stanley reissued an “overweight” rating and set a $56.00 price objective (up previously from $51.00) on shares of Global Blood Therapeutics in a report on Friday, October 6th. Two analysts have rated the stock with a sell rating and fourteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $56.38.
Global Blood Therapeutics (NASDAQ:GBT) last issued its earnings results on Thursday, November 2nd. The company reported ($0.66) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($0.04). During the same period in the prior year, the business earned ($0.58) earnings per share.
Several hedge funds have recently made changes to their positions in GBT. BNP Paribas Arbitrage SA lifted its position in shares of Global Blood Therapeutics by 694.9% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,547 shares of the company’s stock worth $124,000 after acquiring an additional 3,975 shares during the period. Legal & General Group Plc lifted its position in shares of Global Blood Therapeutics by 10.1% in the 1st quarter. Legal & General Group Plc now owns 4,816 shares of the company’s stock worth $178,000 after acquiring an additional 440 shares during the period. Jane Street Group LLC bought a new stake in shares of Global Blood Therapeutics in the 3rd quarter worth approximately $200,000. Trexquant Investment LP bought a new stake in shares of Global Blood Therapeutics in the 3rd quarter worth approximately $202,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Global Blood Therapeutics in the 3rd quarter worth approximately $205,000. Institutional investors own 90.48% of the company’s stock.
In other Global Blood Therapeutics news, 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 sale, the vice president now owns 2,684 shares of the company’s stock, valued at approximately $93,940. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles J. Homcy sold 70,000 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $33.97, for a total value of $2,377,900.00. Following the completion of the sale, the director now directly owns 83,328 shares in the company, valued at approximately $2,830,652.16. The disclosure for this sale can be found here. Insiders sold a total of 88,500 shares of company stock worth $3,003,350 in the last ninety days. Insiders own 5.30% 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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