Global Blood Therapeutics Inc (NASDAQ:GBT) – Analysts at Wedbush reduced their FY2023 earnings estimates for Global Blood Therapeutics in a research note issued to investors on Monday, August 12th. Wedbush analyst L. Moussatos now forecasts that the company will post earnings of $5.28 per share for the year, down from their previous estimate of $5.29. Wedbush currently has a “Outperform” rating and a $103.00 target price on the stock.
GBT has been the topic of several other research reports. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $75.00 target price on shares of Global Blood Therapeutics in a research report on Sunday, August 11th. Cantor Fitzgerald set a $110.00 target price on Global Blood Therapeutics and gave the company a “buy” rating in a research report on Friday, June 14th. Oppenheimer lifted their target price on Global Blood Therapeutics from $82.00 to $89.00 and gave the company an “outperform” rating in a research report on Thursday, May 9th. Cowen reaffirmed a “buy” rating and set a $83.00 target price on shares of Global Blood Therapeutics in a research report on Thursday, August 8th. Finally, Goldman Sachs Group reaffirmed a “neutral” rating and set a $75.00 target price on shares of Global Blood Therapeutics in a research report on Wednesday, May 29th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Global Blood Therapeutics currently has an average rating of “Buy” and an average price target of $88.33.
Shares of NASDAQ:GBT opened at $46.68 on Wednesday. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of -13.69 and a beta of 1.51. The company has a quick ratio of 16.79, a current ratio of 16.79 and a debt-to-equity ratio of 0.03. 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 $53.99 and its 200 day moving average is $54.82.
Global Blood Therapeutics (NASDAQ:GBT) last announced its earnings results on Wednesday, August 7th. The company reported ($1.01) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.96) by ($0.05). During the same quarter in the prior year, the firm earned ($0.78) earnings per share.
A number of institutional investors have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC bought a new stake in shares of Global Blood Therapeutics in the second quarter valued at $27,000. Truvestments Capital LLC bought a new stake in shares of Global Blood Therapeutics in the first quarter valued at $33,000. Captrust Financial Advisors bought a new stake in shares of Global Blood Therapeutics in the second quarter valued at $42,000. NumerixS Investment Technologies Inc bought a new stake in shares of Global Blood Therapeutics in the second quarter valued at $63,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Global Blood Therapeutics by 17.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,265 shares of the company’s stock valued at $172,000 after buying an additional 482 shares during the period.
Global Blood Therapeutics Company Profile
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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