Brokers Set Expectations for Global Blood Therapeutics, Inc.’s FY2017 Earnings (GBT)

Global Blood Therapeutics, Inc. (NASDAQ:GBT) – Analysts at Wedbush decreased their FY2017 earnings per share (EPS) estimates for Global Blood Therapeutics in a report issued on Monday. Wedbush analyst L. Moussatos now expects that the company will post earnings of ($2.51) per share for the year, down from their previous estimate of ($2.34). Wedbush has a “Outperform” rating and a $73.00 price target on the stock. Wedbush also issued estimates for Global Blood Therapeutics’ Q4 2017 earnings at ($0.69) EPS, FY2018 earnings at ($2.99) EPS, FY2019 earnings at ($3.77) EPS, FY2020 earnings at ($3.39) EPS and FY2021 earnings at ($1.56) EPS.

Global Blood Therapeutics (NASDAQ:GBT) last posted its quarterly earnings data on Thursday, November 2nd. The company reported ($0.66) EPS for the quarter, missing the consensus estimate of ($0.62) by ($0.04). During the same period last year, the company earned ($0.58) EPS.

A number of other research analysts also recently weighed in on GBT. Needham & Company LLC initiated coverage on shares of Global Blood Therapeutics in a research report on Wednesday, September 20th. They set a “buy” rating and a $51.00 price objective on the stock. J P Morgan Chase & Co restated a “buy” rating on shares of Global Blood Therapeutics in a research report on Monday, October 23rd. Oppenheimer set a $53.00 price objective on shares of Global Blood Therapeutics and gave the company a “buy” rating in a research report on Monday, October 23rd. Zacks Investment Research upgraded shares of Global Blood Therapeutics from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research report on Tuesday, October 10th. Finally, BidaskClub upgraded shares of Global Blood Therapeutics from a “hold” rating to a “buy” rating in a research report on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $56.38.

Global Blood Therapeutics (NASDAQ GBT) opened at $43.85 on Wednesday. Global Blood Therapeutics has a 52 week low of $13.35 and a 52 week high of $44.30.

A number of institutional investors and hedge funds have recently bought and sold shares of GBT. BNP Paribas Arbitrage SA grew its stake in Global Blood Therapeutics by 694.9% during the second quarter. BNP Paribas Arbitrage SA now owns 4,547 shares of the company’s stock valued at $124,000 after acquiring an additional 3,975 shares in the last quarter. Legal & General Group Plc grew its stake in Global Blood Therapeutics by 10.1% during the first quarter. Legal & General Group Plc now owns 4,816 shares of the company’s stock valued at $178,000 after acquiring an additional 440 shares in the last quarter. Jane Street Group LLC purchased a new position in Global Blood Therapeutics during the third quarter valued at $200,000. Trexquant Investment LP purchased a new position in Global Blood Therapeutics during the third quarter valued at $202,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Global Blood Therapeutics during the third quarter valued at $205,000. 90.48% of the stock is owned by institutional investors.

In other news, VP Peter Radovich sold 12,500 shares of the stock in a transaction on Monday, October 30th. The shares were sold at an average price of $35.00, for a total value of $437,500.00. Following the completion of the sale, the vice president now directly owns 2,684 shares of the company’s stock, valued at $93,940. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jung Choi sold 3,000 shares of the stock in a transaction on Friday, September 29th. The stock was sold at an average price of $30.00, for a total transaction of $90,000.00. Following the completion of the sale, the insider now directly owns 140,055 shares of the company’s stock, valued at $4,201,650. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 88,500 shares of company stock valued at $3,003,350. 5.30% of the stock is owned by corporate insiders.

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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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