$43.24 Million in Sales Expected for Global Blood Therapeutics, Inc. (NASDAQ:GBT) This Quarter

Thursday, April 8, 2021 | MarketBeat

Analysts expect Global Blood Therapeutics, Inc. (NASDAQ:GBT) to post $43.24 million in sales for the current fiscal quarter, according to Zacks Investment Research. Ten analysts have provided estimates for Global Blood Therapeutics' earnings. The lowest sales estimate is $40.00 million and the highest is $47.44 million. Global Blood Therapeutics posted sales of $14.12 million in the same quarter last year, which suggests a positive year-over-year growth rate of 206.2%. The firm is expected to report its next quarterly earnings results on Wednesday, May 5th.

On average, analysts expect that Global Blood Therapeutics will report full-year sales of $208.17 million for the current financial year, with estimates ranging from $168.30 million to $249.98 million. For the next financial year, analysts anticipate that the firm will report sales of $356.85 million, with estimates ranging from $261.89 million to $495.84 million. Zacks Investment Research's sales averages are a mean average based on a survey of research firms that that provide coverage for Global Blood Therapeutics.

Global Blood Therapeutics (NASDAQ:GBT) last issued its quarterly earnings data on Tuesday, February 23rd. The company reported ($1.00) earnings per share for the quarter, missing the Thomson Reuters' consensus estimate of ($0.97) by ($0.03). Global Blood Therapeutics had a negative net margin of 332.94% and a negative return on equity of 56.43%.

A number of equities analysts recently commented on the stock. HC Wainwright reaffirmed a "buy" rating and set a $75.00 price target on shares of Global Blood Therapeutics in a research report on Tuesday, December 15th. Wolfe Research assumed 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. Zacks Investment Research raised shares of Global Blood Therapeutics from a "sell" rating to a "hold" rating and set a $45.00 price target on the stock in a research report on Tuesday. Morgan Stanley lowered their price target on shares of Global Blood Therapeutics from $67.00 to $45.00 and set an "equal weight" rating on the stock in a research report on Wednesday, December 16th. Finally, William Blair downgraded shares of Global Blood Therapeutics from an "outperform" rating to a "market perform" rating in a research note on Thursday, February 25th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. The company has an average rating of "Buy" and an average target price of $89.84.

A number of large investors have recently bought and sold shares of the stock. UBS Asset Management Americas Inc. raised its holdings in Global Blood Therapeutics by 2.7% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 74,219 shares of the company's stock worth $4,092,000 after purchasing an additional 1,958 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Global Blood Therapeutics by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 310,646 shares of the company's stock worth $17,130,000 after purchasing an additional 957 shares during the last quarter. Morgan Stanley raised its holdings in Global Blood Therapeutics by 30.2% during the 3rd quarter. Morgan Stanley now owns 109,392 shares of the company's stock worth $6,032,000 after purchasing an additional 25,373 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in Global Blood Therapeutics by 86.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,309 shares of the company's stock worth $127,000 after purchasing an additional 1,070 shares during the last quarter. Finally, Engineers Gate Manager LP bought a new position in Global Blood Therapeutics during the 3rd quarter worth approximately $858,000.

Shares of GBT opened at $42.28 on Thursday. The firm has a market capitalization of $2.63 billion, a PE ratio of -9.15 and a beta of 1.39. The company's 50-day moving average is $43.44 and its 200-day moving average is $47.77. Global Blood Therapeutics has a fifty-two week low of $36.49 and a fifty-two week high of $83.69. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.63 and a quick ratio of 7.20.

About Global Blood Therapeutics

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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