Global Blood Therapeutics (NASDAQ:GBT) Announces Earnings Results

Global Blood Therapeutics (NASDAQ:GBT) released its earnings results on Thursday. The company reported ($1.07) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.05) by ($0.02), Briefing.com reports. During the same period in the previous year, the business earned ($0.83) EPS.

Global Blood Therapeutics stock traded down $0.17 during trading hours on Friday, hitting $47.00. 752,700 shares of the stock were exchanged, compared to its average volume of 765,230. The company has a debt-to-equity ratio of 0.03, a quick ratio of 16.79 and a current ratio of 16.79. The stock has a market capitalization of $2.99 billion, a P/E ratio of -13.78 and a beta of 1.57. Global Blood Therapeutics has a 12 month low of $30.15 and a 12 month high of $64.94. The business’s 50-day moving average is $49.25 and its two-hundred day moving average is $53.30.

In other Global Blood Therapeutics news, insider Lesley Ann Calhoun sold 2,765 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $54.36, for a total transaction of $150,305.40. Following the sale, the insider now directly owns 887 shares of the company’s stock, valued at $48,217.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Deval L. Patrick sold 5,357 shares of the company’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $45.05, for a total transaction of $241,332.85. Following the sale, the director now directly owns 5,357 shares in the company, valued at $241,332.85. The disclosure for this sale can be found here. Insiders have sold 14,698 shares of company stock worth $711,058 over the last ninety days. Insiders own 4.30% of the company’s stock.

GBT has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Global Blood Therapeutics in a research report on Thursday, September 5th. William Blair reaffirmed a “buy” rating on shares of Global Blood Therapeutics in a research report on Tuesday, October 8th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Global Blood Therapeutics in a research report on Thursday, October 17th. Canaccord Genuity initiated coverage on shares of Global Blood Therapeutics in a research report on Wednesday. They set a “hold” rating and a $50.00 price objective for the company. Finally, Wells Fargo & Co upped their price objective on shares of Global Blood Therapeutics from $96.00 to $104.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $88.08.

About Global Blood Therapeutics

Global Blood Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and delivery of treatments for underserved patient communities. It is developing its lead product candidate, voxelotor, an oral, once-daily therapy for sickle cell disease (SCD). The company is evaluating voxelotor in SCD in a Phase III clinical trial in adult and adolescent patients with SCD.

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Earnings History for Global Blood Therapeutics (NASDAQ:GBT)

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