Cantor Fitzgerald Reaffirms Neutral Rating for Global Blood Therapeutics (NASDAQ:GBT)

Global Blood Therapeutics (NASDAQ:GBTGet Rating)‘s stock had its “neutral” rating restated by investment analysts at Cantor Fitzgerald in a report issued on Wednesday, 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.

Other equities analysts have also recently issued reports about the company. Guggenheim lifted their price target on Global Blood Therapeutics to $72.00 in a research note on Monday, August 15th. Oppenheimer cut Global Blood Therapeutics to a “market perform” rating in a research note on Monday, August 15th. SVB Leerink cut Global Blood Therapeutics from an “outperform” rating to a “market perform” rating and set a $68.50 target price on the stock. in a research note on Tuesday, August 9th. Canaccord Genuity Group raised Global Blood Therapeutics from a “hold” rating to a “buy” rating and boosted their target price for the company from $40.00 to $72.00 in a research note on Monday, August 8th. Finally, JPMorgan Chase & Co. reduced their target price on 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. Twelve equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Global Blood Therapeutics has a consensus rating of “Hold” and a consensus price target of $65.50.

Global Blood Therapeutics Stock Performance

NASDAQ:GBT opened at $67.97 on Wednesday. The business has a 50 day moving average of $57.63 and a 200 day moving average of $39.72. The company has a market capitalization of $4.59 billion, a price-to-earnings ratio of -13.57 and a beta of 0.46. 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:GBTGet Rating) last released its earnings results on Monday, August 8th. The company reported ($1.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.19) by ($0.07). The firm had revenue of $71.55 million during the quarter, compared to the consensus estimate of $64.39 million. Global Blood Therapeutics had a negative return on equity of 170.37% and a negative net margin of 137.30%. During the same quarter in the previous year, the firm earned ($1.12) EPS. On average, sell-side analysts predict that Global Blood Therapeutics will post -4.71 earnings per share for the current fiscal year.

Insider Activity at Global Blood Therapeutics

In related news, insider Nazila Habibizad sold 4,678 shares of the stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $67.19, for a total transaction of $314,314.82. Following the completion of the transaction, the insider now directly owns 8,918 shares of the company’s stock, valued at $599,200.42. The sale was disclosed in a filing with the SEC, which is available through this link. 4.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Global Blood Therapeutics

Several institutional investors have recently modified their holdings of GBT. Advisor Group Holdings Inc. raised its holdings in shares of Global Blood Therapeutics by 31.8% in the fourth quarter. Advisor Group Holdings Inc. now owns 1,865 shares of the company’s stock worth $55,000 after buying an additional 450 shares during the period. Endurant Capital Management LP raised its holdings in shares of Global Blood Therapeutics by 1.1% in the first quarter. Endurant Capital Management LP now owns 43,250 shares of the company’s stock worth $1,498,000 after buying an additional 453 shares during the period. New York State Common Retirement Fund raised its holdings in shares of Global Blood Therapeutics by 1.1% in the first quarter. New York State Common Retirement Fund now owns 43,552 shares of the company’s stock worth $1,509,000 after buying an additional 482 shares during the period. Arizona State Retirement System raised its holdings in shares of Global Blood Therapeutics by 3.7% in the first quarter. Arizona State Retirement System now owns 15,678 shares of the company’s stock worth $543,000 after buying an additional 560 shares during the period. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Global Blood Therapeutics by 39.7% in the second quarter. Nisa Investment Advisors LLC now owns 2,110 shares of the company’s stock worth $67,000 after buying an additional 600 shares during the period.

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.

Further Reading

Analyst Recommendations for Global Blood Therapeutics (NASDAQ:GBT)

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