Wall Street analysts forecast that Global Blood Therapeutics Inc (NASDAQ:GBT) will announce sales of $17.47 million for the current quarter, Zacks reports. Eight analysts have provided estimates for Global Blood Therapeutics’ earnings, with the highest sales estimate coming in at $20.66 million and the lowest estimate coming in at $4.24 million. The company is expected to report its next quarterly earnings results on Wednesday, August 5th.
According to Zacks, analysts expect that Global Blood Therapeutics will report full-year sales of $87.59 million for the current financial year, with estimates ranging from $32.12 million to $109.43 million. For the next year, analysts forecast that the firm will post sales of $222.21 million, with estimates ranging from $70.93 million to $304.55 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Global Blood Therapeutics.
Global Blood Therapeutics (NASDAQ:GBT) last released its earnings results on Wednesday, May 6th. The company reported ($1.20) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.47) by $0.27. The company had revenue of $14.12 million for the quarter, compared to the consensus estimate of $3.65 million. During the same period in the prior year, the company earned ($0.87) earnings per share.
Several research analysts recently commented on the stock. Oppenheimer reaffirmed a “buy” rating and issued a $101.00 price objective on shares of Global Blood Therapeutics in a report on Monday, June 15th. Canaccord Genuity reaffirmed a “hold” rating on shares of Global Blood Therapeutics in a report on Thursday, June 25th. Wells Fargo & Co reaffirmed a “buy” rating on shares of Global Blood Therapeutics in a report on Friday, June 12th. Goldman Sachs Group raised shares of Global Blood Therapeutics from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $91.00 to $103.00 in a report on Wednesday. Finally, Morgan Stanley raised their price objective on shares of Global Blood Therapeutics from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Thursday, May 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the company. Global Blood Therapeutics has an average rating of “Buy” and a consensus target price of $105.00.
Shares of Global Blood Therapeutics stock traded down $2.61 on Friday, reaching $67.83. 844,737 shares of the company traded hands, compared to its average volume of 1,201,523. The company has a 50 day moving average of $67.49 and a 200 day moving average of $69.04. The firm has a market capitalization of $4.13 billion, a PE ratio of -13.93 and a beta of 1.89. Global Blood Therapeutics has a 52 week low of $39.95 and a 52 week high of $87.54. The company has a debt-to-equity ratio of 0.30, a current ratio of 9.07 and a quick ratio of 8.83.
In related news, Director Dawn Svoronos sold 2,544 shares of Global Blood Therapeutics stock in a transaction on Friday, June 19th. The shares were sold at an average price of $63.94, for a total value of $162,663.36. Following the transaction, the director now owns 4,800 shares in the company, valued at approximately $306,912. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Ted W. Love sold 2,817 shares of Global Blood Therapeutics stock in a transaction on Monday, April 27th. The stock was sold at an average price of $80.87, for a total transaction of $227,810.79. Following the completion of the transaction, the insider now owns 1,076,150 shares in the company, valued at approximately $87,028,250.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 81,330 shares of company stock worth $6,120,196. 4.30% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the business. Perceptive Advisors LLC grew its holdings in Global Blood Therapeutics by 3.4% in the 1st quarter. Perceptive Advisors LLC now owns 6,065,726 shares of the company’s stock worth $309,897,000 after acquiring an additional 200,000 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Global Blood Therapeutics by 32.5% during the 4th quarter. Bank of America Corp DE now owns 4,712,986 shares of the company’s stock valued at $374,635,000 after purchasing an additional 1,156,164 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of Global Blood Therapeutics by 51.9% during the 1st quarter. Janus Henderson Group PLC now owns 4,553,981 shares of the company’s stock valued at $232,662,000 after purchasing an additional 1,555,086 shares in the last quarter. State Street Corp boosted its stake in shares of Global Blood Therapeutics by 1.4% during the 1st quarter. State Street Corp now owns 2,187,383 shares of the company’s stock valued at $111,753,000 after purchasing an additional 29,555 shares in the last quarter. Finally, Capital World Investors boosted its stake in shares of Global Blood Therapeutics by 210.7% during the 1st quarter. Capital World Investors now owns 1,452,448 shares of the company’s stock valued at $74,206,000 after purchasing an additional 984,928 shares in the last quarter.
Global Blood Therapeutics Company Profile
Global Blood Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and delivery of treatments for underserved patient communities. It is developing its lead product candidate, voxelotor, an oral, once-daily therapy for sickle cell disease (SCD). The company is evaluating voxelotor in SCD in a Phase III clinical trial in adult and adolescent patients with SCD.
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