It has been about a month since the last earnings report for Global Blood Therapeutics . Shares have added about 0.1% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Global Blood due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.
Global Blood's Q1 Earnings Miss, Revenues Rise Y/Y
Global Blood incurred a loss of $1.21 per share in first-quarter 2021, wider than the Zacks Consensus Estimate of a loss of $1.02. In the year-ago quarter, the company had reported a loss of $1.20 per share.
The company’s revenues of $39 million, comprising solely of Oxbryta sales, also missed the Zacks Consensus Estimate of $43 million. The company had generated $14 million in product sales in the year-ago quarter.
Quarter in Details
Oxbryta sales declined 5% sequentially in the first quarter owing to lower inventory levels and higher gross-to-net adjustment. The company recorded around 950 new prescriptions of Oxbryta in the first quarter despite an increase in COVID-19 cases in the United States during the same time.
Research and development expenses in the reported quarter were $50.9 million, up 27.8% year over year, primarily attributable to higher external costs related to the company’s preclinical programs.
Selling, general and administrative expenses were $59 million in the reported quarter, up 23.6% year over year due to higher employee-related costs, and increased professional and consulting services cost.
As of Mar 31, 2021, Global Blood had cash, cash equivalents and marketable securities worth $482 million compared with $560.9 million as of Dec 31, 2020.
How Have Estimates Been Moving Since Then?
It turns out, fresh estimates have trended downward during the past month. The consensus estimate has shifted -17.7% due to these changes.
VGM Scores
Currently, Global Blood has a poor Growth Score of F, however its Momentum Score is doing a bit better with a D. Following the exact same course, the stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. It's no surprise Global Blood has a Zacks Rank #4 (Sell). We expect a below average return from the stock in the next few months.
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Global Blood (GBT) Up 0.1% Since Last Earnings Report: Can It Continue?
It has been about a month since the last earnings report for Global Blood Therapeutics . Shares have added about 0.1% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Global Blood due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.
Global Blood's Q1 Earnings Miss, Revenues Rise Y/Y
Global Blood incurred a loss of $1.21 per share in first-quarter 2021, wider than the Zacks Consensus Estimate of a loss of $1.02. In the year-ago quarter, the company had reported a loss of $1.20 per share.
The company’s revenues of $39 million, comprising solely of Oxbryta sales, also missed the Zacks Consensus Estimate of $43 million. The company had generated $14 million in product sales in the year-ago quarter.
Quarter in Details
Oxbryta sales declined 5% sequentially in the first quarter owing to lower inventory levels and higher gross-to-net adjustment. The company recorded around 950 new prescriptions of Oxbryta in the first quarter despite an increase in COVID-19 cases in the United States during the same time.
Research and development expenses in the reported quarter were $50.9 million, up 27.8% year over year, primarily attributable to higher external costs related to the company’s preclinical programs.
Selling, general and administrative expenses were $59 million in the reported quarter, up 23.6% year over year due to higher employee-related costs, and increased professional and consulting services cost.
As of Mar 31, 2021, Global Blood had cash, cash equivalents and marketable securities worth $482 million compared with $560.9 million as of Dec 31, 2020.
How Have Estimates Been Moving Since Then?
It turns out, fresh estimates have trended downward during the past month. The consensus estimate has shifted -17.7% due to these changes.
VGM Scores
Currently, Global Blood has a poor Growth Score of F, however its Momentum Score is doing a bit better with a D. Following the exact same course, the stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. It's no surprise Global Blood has a Zacks Rank #4 (Sell). We expect a below average return from the stock in the next few months.