Cantor Fitzgerald reissued their neutral rating on shares of Global Blood Therapeutics (NASDAQ:GBT – Get Rating) in a research note issued to investors 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.
GBT has been the subject of several other research reports. SVB Leerink cut Global Blood Therapeutics from an outperform rating to a market perform rating and set a $68.50 price target for the company. in a report on Tuesday, August 9th. Stifel Nicolaus reaffirmed a hold rating on shares of Global Blood Therapeutics in a report on Monday, August 8th. William Blair cut Global Blood Therapeutics from an outperform rating to a market perform rating in a report on Monday, August 8th. Canaccord Genuity Group raised Global Blood Therapeutics from a hold rating to a buy rating and increased their price target for the company from $40.00 to $72.00 in a report on Monday, August 8th. Finally, Wedbush cut Global Blood Therapeutics to a neutral rating in a report on Monday, August 15th. Twelve analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $65.50.
Get Global Blood Therapeutics alerts:Global Blood Therapeutics Stock Performance
NASDAQ GBT opened at $67.99 on Wednesday. The company has a market cap of $4.59 billion, a PE ratio of -13.57 and a beta of 0.46. The stock's 50 day simple moving average is $58.27 and its 200-day simple moving average is $40.00. Global Blood Therapeutics has a 1-year low of $21.65 and a 1-year high of $73.02. The company has a debt-to-equity ratio of 4.92, a current ratio of 6.88 and a quick ratio of 6.17.
Global Blood Therapeutics (NASDAQ:GBT – Get Rating) last released its earnings results on Monday, August 8th. The company reported ($1.26) earnings per share for the quarter, missing the consensus estimate of ($1.19) by ($0.07). The firm had revenue of $71.55 million during the quarter, compared to analysts' expectations of $64.39 million. Global Blood Therapeutics had a negative net margin of 137.30% and a negative return on equity of 170.37%. During the same quarter last year, the business earned ($1.12) EPS. As a group, equities research analysts anticipate that Global Blood Therapeutics will post -4.71 EPS for the current fiscal year.Insider Activity
In other news, insider Nazila Habibizad sold 4,678 shares of Global Blood Therapeutics stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $67.19, for a total value of $314,314.82. Following the completion of the sale, the insider now directly owns 8,918 shares of the company's stock, valued at $599,200.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 4.90% of the company's stock.
Institutional Investors Weigh In On Global Blood Therapeutics
Institutional investors have recently modified their holdings of the company. Nisa Investment Advisors LLC grew its stake in shares of Global Blood Therapeutics by 75.6% in the first quarter. Nisa Investment Advisors LLC now owns 1,510 shares of the company's stock valued at $52,000 after buying an additional 650 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in Global Blood Therapeutics in the first quarter valued at $448,000. Candriam Luxembourg S.C.A. boosted its holdings in Global Blood Therapeutics by 16.7% in the first quarter. Candriam Luxembourg S.C.A. now owns 756,708 shares of the company's stock valued at $26,211,000 after purchasing an additional 108,369 shares during the period. Fairmount Funds Management LLC boosted its holdings in Global Blood Therapeutics by 59.1% in the first quarter. Fairmount Funds Management LLC now owns 1,182,307 shares of the company's stock valued at $40,955,000 after purchasing an additional 439,307 shares during the period. Finally, Vestmark Advisory Solutions Inc. boosted its holdings in Global Blood Therapeutics by 44.3% in the first quarter. Vestmark Advisory Solutions Inc. now owns 12,669 shares of the company's stock valued at $439,000 after purchasing an additional 3,892 shares during the period.
About Global Blood Therapeutics
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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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