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. In addition, the company is developing its lead product candidate inclacumab, novel human monoclonal antibody, which is in Phase III a clinical trial to reduce the incidence of painful vaso-occlusive crises, and resulting hospital admissions; and GBT601, a hemoglobin polymerization inhibitor that is in Phase I development. It has a license and collaboration agreement with Syros Pharmaceuticals, Inc. to discover, develop, and commercialize therapies for SCD and beta thalassemia; and Sanofi S.A. to two early-stage research programs in SCD. Global Blood Therapeutics, Inc. was incorporated in 2011 and is headquartered in South San Francisco, California.
Global Blood Therapeutics Price Performance
Shares of Global Blood Therapeutics stock opened at $63.84 on Friday. The company has a quick ratio of 7.74, a current ratio of 8.52 and a debt-to-equity ratio of 4.34. The firm's 50-day moving average price is $31.23 and its 200 day moving average price is $30.78. Global Blood Therapeutics has a twelve month low of $21.65 and a twelve month high of $73.02.
Global Blood Therapeutics (NASDAQ:GBT - Get Rating) last released its earnings results on Wednesday, May 4th. The company reported ($1.26) earnings per share for the quarter, topping analysts' consensus estimates of ($1.29) by $0.03. Global Blood Therapeutics had a negative net margin of 146.82% and a negative return on equity of 129.74%. The business had revenue of $55.20 million for the quarter, compared to analyst estimates of $56.13 million. During the same period last year, the company posted ($1.21) EPS. The business's revenue was up 41.5% on a year-over-year basis. On average, research analysts expect that Global Blood Therapeutics will post -4.65 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several research firms have recently issued reports on GBT. JPMorgan Chase & Co. lowered their target price on shares of 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. Cantor Fitzgerald began coverage on shares of Global Blood Therapeutics in a research note on Thursday, April 28th. They set a "buy" rating and a $75.00 target price on the stock. Oppenheimer lowered their target price on shares of Global Blood Therapeutics from $86.00 to $71.00 in a research note on Thursday, May 5th. Wedbush set a $74.00 target price on shares of Global Blood Therapeutics in a research note on Monday, June 20th. Finally, StockNews.com raised shares of Global Blood Therapeutics from a "sell" rating to a "hold" rating in a research note on Thursday, May 5th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $61.40.
Insiders Place Their Bets
In other Global Blood Therapeutics news, Director Philip A. Pizzo sold 1,260 shares of the firm's stock in a transaction that occurred on Tuesday, June 21st. The shares were sold at an average price of $27.25, for a total value of $34,335.00. Following the transaction, the director now directly owns 9,112 shares of the company's stock, valued at approximately $248,302. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.90% of the company's stock.