Global Blood Therapeutics Inc (NASDAQ:GBT) Expected to Post Quarterly Sales of $43.18 Million

Equities analysts predict that Global Blood Therapeutics Inc (NASDAQ:GBT) will post sales of $43.18 million for the current quarter, according to Zacks. Ten analysts have issued estimates for Global Blood Therapeutics’ earnings, with the highest sales estimate coming in at $49.14 million and the lowest estimate coming in at $35.00 million. The business is scheduled to report its next quarterly earnings results on Thursday, November 5th.

On average, analysts expect that Global Blood Therapeutics will report full year sales of $141.01 million for the current financial year, with estimates ranging from $109.43 million to $166.51 million. For the next fiscal year, analysts expect that the business will report sales of $323.71 million, with estimates ranging from $230.17 million to $450.60 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Global Blood Therapeutics.

Global Blood Therapeutics (NASDAQ:GBT) last posted its earnings results on Wednesday, August 5th. The company reported ($0.86) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.18) by $0.32. The company had revenue of $31.50 million during the quarter, compared to analysts’ expectations of $18.85 million.

A number of research firms recently issued reports on GBT. Bank of America began coverage on Global Blood Therapeutics in a research note on Monday, July 13th. They set a “buy” rating and a $92.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and set a $150.00 price objective on shares of Global Blood Therapeutics in a research report on Thursday, August 6th. Raymond James started coverage on Global Blood Therapeutics in a research report on Monday, August 24th. They set an “outperform” rating and a $115.00 price objective for the company. Roth Capital started coverage on Global Blood Therapeutics in a research report on Monday, July 20th. They set a “buy” rating and a $129.00 price objective for the company. Finally, Canaccord Genuity reaffirmed a “hold” rating on shares of Global Blood Therapeutics in a research report on Thursday, June 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nineteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $106.71.

In related news, insider Eric Fink sold 2,454 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $69.62, for a total value of $170,847.48. Following the completion of the transaction, the insider now directly owns 950 shares of the company’s stock, valued at approximately $66,139. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jeffrey S. Farrow sold 15,208 shares of the stock in a transaction that occurred on Monday, July 13th. The stock was sold at an average price of $75.00, for a total value of $1,140,600.00. Following the completion of the transaction, the chief financial officer now directly owns 3,048 shares of the company’s stock, valued at $228,600. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Private Advisor Group LLC acquired a new stake in Global Blood Therapeutics in the second quarter worth approximately $62,000. Bessemer Group Inc. acquired a new stake in Global Blood Therapeutics during the 2nd quarter valued at $63,000. Advisors Asset Management Inc. acquired a new stake in Global Blood Therapeutics during the 2nd quarter valued at $78,000. US Bancorp DE increased its stake in shares of Global Blood Therapeutics by 93.0% in the second quarter. US Bancorp DE now owns 1,438 shares of the company’s stock worth $91,000 after acquiring an additional 693 shares during the last quarter. Finally, Ovata Capital Management Ltd acquired a new position in shares of Global Blood Therapeutics in the second quarter worth $136,000.

NASDAQ:GBT traded up $2.82 during mid-day trading on Monday, reaching $57.96. 868,856 shares of the stock were exchanged, compared to its average volume of 886,327. The company has a 50 day simple moving average of $58.85 and a 200-day simple moving average of $64.45. The stock has a market capitalization of $3.56 billion, a P/E ratio of -12.28 and a beta of 1.75. The company has a quick ratio of 8.17, a current ratio of 8.56 and a debt-to-equity ratio of 0.31. Global Blood Therapeutics has a 1 year low of $39.95 and a 1 year high of $87.54.

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

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