Global Blood Therapeutics, Inc. (NASDAQ:GBT) released its earnings results on Monday, August 7th. The company reported ($0.55) earnings per share for the quarter, beating the consensus estimate of ($0.61) by $0.06, Briefing.com reports. During the same quarter in the prior year, the firm earned ($0.58) earnings per share.
Shares of Global Blood Therapeutics (NASDAQ GBT) traded down 3.50% on Thursday, reaching $27.60. The company’s stock had a trading volume of 581,007 shares. The stock’s market cap is $1.21 billion. The firm’s 50-day moving average price is $28.11 and its 200-day moving average price is $29.08. Global Blood Therapeutics has a 12 month low of $13.35 and a 12 month high of $41.15.
A number of research firms have commented on GBT. Janney Montgomery Scott began coverage on shares of Global Blood Therapeutics in a research report on Monday, May 1st. They set a “buy” rating and a $37.00 price objective for the company. Wedbush reissued an “outperform” rating and issued a $73.00 target price on shares of Global Blood Therapeutics in a research report on Tuesday, May 2nd. ValuEngine cut shares of Global Blood Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, June 3rd. BidaskClub cut shares of Global Blood Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, June 20th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Global Blood Therapeutics in a research report on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $49.73.
In other Global Blood Therapeutics news, insider Jung Choi sold 3,000 shares of the firm’s stock in a transaction on Friday, July 21st. The stock was sold at an average price of $30.00, for a total transaction of $90,000.00. Following the transaction, the insider now directly owns 143,255 shares in the company, valued at approximately $4,297,650. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Deval L. Patrick sold 27,053 shares of the firm’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $29.69, for a total value of $803,203.57. Following the transaction, the director now owns 12,053 shares in the company, valued at $357,853.57. The disclosure for this sale can be found here. Corporate insiders own 5.30% of the company’s stock.
Global Blood Therapeutics Company Profile
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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