Global Blood Therapeutics, Inc. (NASDAQ:GBT) Expected to Post Quarterly Sales of $44.51 Million

Equities analysts expect Global Blood Therapeutics, Inc. (NASDAQ:GBT) to post $44.51 million in sales for the current quarter, according to Zacks. Eleven analysts have provided estimates for Global Blood Therapeutics’ earnings, with the lowest sales estimate coming in at $42.50 million and the highest estimate coming in at $52.49 million. Global Blood Therapeutics posted sales of $31.50 million in the same quarter last year, which suggests a positive year over year growth rate of 41.3%. The company is scheduled to report its next quarterly earnings report on Wednesday, August 4th.

On average, analysts expect that Global Blood Therapeutics will report full year sales of $196.16 million for the current financial year, with estimates ranging from $170.74 million to $222.04 million. For the next fiscal year, analysts expect that the firm will report sales of $320.98 million, with estimates ranging from $255.50 million to $458.05 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Global Blood Therapeutics.

Global Blood Therapeutics (NASDAQ:GBT) last released its earnings results on Tuesday, May 4th. The company reported ($1.21) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.01) by ($0.20). Global Blood Therapeutics had a negative return on equity of 56.43% and a negative net margin of 332.94%.

A number of brokerages have weighed in on GBT. Wolfe Research began coverage on shares of Global Blood Therapeutics in a research report on Wednesday, March 17th. They set an “outperform” rating and a $67.00 price target on the stock. Roth Capital reduced their price target on shares of Global Blood Therapeutics from $128.00 to $124.00 and set a “buy” rating on the stock in a research report on Wednesday. Canaccord Genuity reduced their price target on shares of Global Blood Therapeutics from $45.00 to $40.00 and set a “hold” rating on the stock in a research report on Wednesday. Cantor Fitzgerald reduced their price target on shares of Global Blood Therapeutics from $120.00 to $110.00 and set an “overweight” rating on the stock in a research report on Friday, May 7th. Finally, Piper Sandler reduced their target price on shares of Global Blood Therapeutics from $50.00 to $45.00 in a research report on Thursday, May 6th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $82.89.

Hedge funds have recently bought and sold shares of the stock. tru Independence LLC acquired a new stake in Global Blood Therapeutics in the fourth quarter worth about $17,324,000. RMR Wealth Builders acquired a new stake in Global Blood Therapeutics in the fourth quarter worth about $28,000. Truvestments Capital LLC acquired a new stake in Global Blood Therapeutics in the fourth quarter worth about $40,000. Baillie Gifford & Co. bought a new stake in Global Blood Therapeutics in the fourth quarter worth about $41,000. Finally, Elkhorn Partners Limited Partnership raised its position in Global Blood Therapeutics by 283.3% in the first quarter. Elkhorn Partners Limited Partnership now owns 1,150 shares of the company’s stock worth $47,000 after acquiring an additional 850 shares in the last quarter.

GBT stock traded up $0.72 during midday trading on Thursday, reaching $36.18. 930,201 shares of the company’s stock traded hands, compared to its average volume of 962,728. The company has a market capitalization of $2.25 billion, a P/E ratio of -7.83 and a beta of 1.39. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.63 and a quick ratio of 7.20. Global Blood Therapeutics has a fifty-two week low of $34.65 and a fifty-two week high of $76.47. The business has a 50-day moving average price of $40.65 and a two-hundred day moving average price of $44.50.

Global Blood Therapeutics Company Profile

Global Blood Therapeutics, Inc, a biopharmaceutical company, engages in the discovery, development, and delivery of treatments for underserved patient communities. The company offers Oxbryta tablets, an oral, once-daily therapy for sickle cell disease (SCD). It is evaluating the safety and pharmacokinetics of single and multiple doses of Oxbryta in a Phase 2a clinical trial of adolescent and pediatric patients with SCD.

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Earnings History and Estimates for Global Blood Therapeutics (NASDAQ:GBT)

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