Global Blood Therapeutics (NASDAQ:GBT) Given “Neutral” Rating at Cantor Fitzgerald

Cantor Fitzgerald reiterated their neutral rating on shares of Global Blood Therapeutics (NASDAQ:GBTGet Rating) in a report issued on Wednesday morning, PriceTargets.com reports. Cantor Fitzgerald also issued estimates for Global Blood Therapeutics’ FY2022 earnings at ($4.55) EPS and FY2023 earnings at ($3.03) EPS.

Several other research analysts have also commented on the stock. Oppenheimer lowered shares of Global Blood Therapeutics to a market perform rating in a report on Monday, August 15th. JPMorgan Chase & Co. dropped their price objective on shares of Global Blood Therapeutics from $39.00 to $36.00 and set a neutral rating on the stock in a research note on Tuesday, June 28th. Stifel Nicolaus reiterated a hold rating on shares of Global Blood Therapeutics in a research note on Monday, August 8th. Guggenheim lifted their price objective on shares of Global Blood Therapeutics to $72.00 in a research note on Monday, August 15th. Finally, William Blair lowered shares of Global Blood Therapeutics from an outperform rating to a market perform rating in a research note on Monday, August 8th. Twelve equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $65.50.

Global Blood Therapeutics Stock Performance

Shares of GBT opened at $67.97 on Wednesday. The company has a quick ratio of 6.17, a current ratio of 6.88 and a debt-to-equity ratio of 4.92. The company has a 50-day simple moving average of $57.63 and a 200-day simple moving average of $39.72. Global Blood Therapeutics has a 52-week low of $21.65 and a 52-week high of $73.02. The company has a market capitalization of $4.59 billion, a PE ratio of -13.57 and a beta of 0.46.

Global Blood Therapeutics (NASDAQ:GBTGet Rating) last released its quarterly earnings results on Monday, August 8th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.19) by ($0.07). Global Blood Therapeutics had a negative return on equity of 170.37% and a negative net margin of 137.30%. The firm had revenue of $71.55 million for the quarter, compared to analyst estimates of $64.39 million. During the same period in the prior year, the business earned ($1.12) earnings per share. Equities research analysts predict that Global Blood Therapeutics will post -4.71 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Global Blood Therapeutics news, insider Nazila Habibizad sold 4,678 shares of Global Blood Therapeutics stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $67.19, for a total value of $314,314.82. Following the completion of the transaction, the insider now owns 8,918 shares of the company’s stock, valued at $599,200.42. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 4.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Global Blood Therapeutics

A number of hedge funds have recently added to or reduced their stakes in GBT. Legal & General Group Plc boosted its holdings in shares of Global Blood Therapeutics by 7.0% during the second quarter. Legal & General Group Plc now owns 55,231 shares of the company’s stock valued at $1,764,000 after acquiring an additional 3,615 shares during the period. ExodusPoint Capital Management LP acquired a new position in shares of Global Blood Therapeutics during the second quarter valued at $846,000. Walleye Capital LLC boosted its holdings in shares of Global Blood Therapeutics by 60.4% during the second quarter. Walleye Capital LLC now owns 106,796 shares of the company’s stock valued at $3,412,000 after acquiring an additional 40,197 shares during the period. Nomura Holdings Inc. boosted its holdings in shares of Global Blood Therapeutics by 36.5% during the second quarter. Nomura Holdings Inc. now owns 161,309 shares of the company’s stock valued at $5,292,000 after acquiring an additional 43,109 shares during the period. Finally, Woodline Partners LP acquired a new position in shares of Global Blood Therapeutics during the second quarter valued at $30,276,000.

About Global Blood Therapeutics

(Get Rating)

Global Blood Therapeutics, Inc, a biopharmaceutical company, engages in the discovery, development, and delivery of treatments for underserved patient communities with sickle cell disease (SCD). The company offers Oxbryta tablets, an oral, once-daily therapy for SCD. It also evaluates the safety and pharmacokinetics of single and multiple doses of Oxbryta in a Phase II a clinical trial of adolescent and pediatric patients with SCD.

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