Zacks: Analysts Anticipate Global Blood Therapeutics Inc (NASDAQ:GBT) to Announce -$1.19 Earnings Per Share

Wall Street brokerages expect Global Blood Therapeutics Inc (NASDAQ:GBT) to report ($1.19) earnings per share (EPS) for the current quarter, according to Zacks. Ten analysts have issued estimates for Global Blood Therapeutics’ earnings, with the lowest EPS estimate coming in at ($1.34) and the highest estimate coming in at ($1.04). Global Blood Therapeutics reported earnings of ($1.07) per share during the same quarter last year, which indicates a negative year over year growth rate of 11.2%. The firm is expected to report its next earnings results on Thursday, November 5th.

On average, analysts expect that Global Blood Therapeutics will report full year earnings of ($3.42) per share for the current fiscal year, with EPS estimates ranging from ($4.35) to ($3.06). For the next year, analysts expect that the firm will post earnings of ($1.08) per share, with EPS estimates ranging from ($3.58) to $0.83. Zacks’ EPS calculations are an average based on a survey of research analysts that that provide coverage for Global Blood Therapeutics.

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

GBT has been the subject of a number of recent research reports. BofA Securities initiated coverage on shares of Global Blood Therapeutics in a report on Monday, July 13th. They issued a “buy” rating and a $92.00 price objective for the company. Bank of America initiated coverage on shares of Global Blood Therapeutics in a report on Monday, July 13th. They issued a “buy” rating and a $92.00 price objective for the company. Raymond James initiated coverage on shares of Global Blood Therapeutics in a report on Monday, August 24th. They set an “outperform” rating and a $115.00 price target for the company. Stifel Nicolaus upped their price target on shares of Global Blood Therapeutics from $113.00 to $118.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $150.00 price target on shares of Global Blood Therapeutics in a report on Thursday, August 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nineteen have assigned a buy rating to the stock. Global Blood Therapeutics currently has a consensus rating of “Buy” and an average target price of $106.71.

In other Global Blood Therapeutics news, insider Eric Fink sold 2,454 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The shares were 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 in the company, valued at approximately $66,139. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Jeffrey S. Farrow sold 15,208 shares of the company’s stock in a transaction that occurred on Monday, July 13th. The shares were sold at an average price of $75.00, for a total transaction of $1,140,600.00. Following the completion of the transaction, the chief financial officer now 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 owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada lifted its stake in shares of Global Blood Therapeutics by 36.3% in the first quarter. Royal Bank of Canada now owns 59,586 shares of the company’s stock valued at $3,044,000 after buying an additional 15,877 shares in the last quarter. Aviva PLC lifted its position in shares of Global Blood Therapeutics by 108.9% during the first quarter. Aviva PLC now owns 71,031 shares of the company’s stock valued at $3,629,000 after purchasing an additional 37,028 shares in the last quarter. Morgan Stanley lifted its position in shares of Global Blood Therapeutics by 59.2% during the first quarter. Morgan Stanley now owns 401,851 shares of the company’s stock valued at $20,531,000 after purchasing an additional 149,473 shares in the last quarter. CIBC Private Wealth Group LLC lifted its position in shares of Global Blood Therapeutics by 74.4% during the second quarter. CIBC Private Wealth Group LLC now owns 185,482 shares of the company’s stock valued at $11,709,000 after purchasing an additional 79,127 shares in the last quarter. Finally, Eagle Asset Management Inc. lifted its position in shares of Global Blood Therapeutics by 0.6% during the first quarter. Eagle Asset Management Inc. now owns 446,528 shares of the company’s stock valued at $22,813,000 after purchasing an additional 2,803 shares in the last quarter.

NASDAQ GBT traded up $2.82 during trading on Friday, reaching $57.96. The company’s stock had a trading volume of 868,856 shares, compared to its average volume of 886,327. The company has a current ratio of 8.56, a quick ratio of 8.17 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $3.56 billion, a price-to-earnings ratio of -12.28 and a beta of 1.75. Global Blood Therapeutics has a 12 month low of $39.95 and a 12 month high of $87.54. The firm has a 50 day moving average price of $58.85 and a 200 day moving average price of $64.45.

About Global Blood Therapeutics

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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