$4.97 Million in Sales Expected for Orchard Therapeutics plc (NASDAQ:ORTX) This Quarter

Brokerages forecast that Orchard Therapeutics plc (NASDAQ:ORTXGet Rating) will report $4.97 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Orchard Therapeutics’ earnings, with the highest sales estimate coming in at $7.92 million and the lowest estimate coming in at $2.30 million. The business is expected to issue its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Orchard Therapeutics will report full-year sales of $14.16 million for the current year, with estimates ranging from $12.40 million to $16.78 million. For the next financial year, analysts anticipate that the firm will post sales of $23.93 million, with estimates ranging from $7.30 million to $34.70 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Orchard Therapeutics.

Orchard Therapeutics (NASDAQ:ORTXGet Rating) last announced its quarterly earnings data on Wednesday, March 30th. The company reported ($0.29) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.29). The firm had revenue of $0.48 million for the quarter, compared to the consensus estimate of $0.65 million. During the same quarter in the previous year, the business earned ($0.34) earnings per share.

ORTX has been the topic of several recent analyst reports. Cowen downgraded shares of Orchard Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Thursday, March 31st. Sumitomo Mitsui Financial Group restated a “neutral” rating on shares of Orchard Therapeutics in a research report on Friday, April 1st. Stifel Nicolaus decreased their price objective on shares of Orchard Therapeutics from $12.00 to $5.00 in a research report on Thursday, March 31st. Finally, Zacks Investment Research upgraded shares of Orchard Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, March 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $10.25.

A number of hedge funds and other institutional investors have recently made changes to their positions in ORTX. Morgan Stanley increased its holdings in Orchard Therapeutics by 368.7% in the 2nd quarter. Morgan Stanley now owns 85,431 shares of the company’s stock valued at $375,000 after acquiring an additional 67,205 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in shares of Orchard Therapeutics by 9,867.7% in the 3rd quarter. Daiwa Securities Group Inc. now owns 13,257 shares of the company’s stock worth $30,000 after buying an additional 13,124 shares in the last quarter. Platinum Investment Management Ltd. grew its stake in shares of Orchard Therapeutics by 43.4% in the 3rd quarter. Platinum Investment Management Ltd. now owns 1,078,315 shares of the company’s stock worth $2,480,000 after buying an additional 326,207 shares in the last quarter. Citigroup Inc. grew its stake in shares of Orchard Therapeutics by 20.5% in the 3rd quarter. Citigroup Inc. now owns 142,755 shares of the company’s stock worth $328,000 after buying an additional 24,272 shares in the last quarter. Finally, Jump Financial LLC grew its stake in shares of Orchard Therapeutics by 20.5% in the 3rd quarter. Jump Financial LLC now owns 68,000 shares of the company’s stock worth $156,000 after buying an additional 11,546 shares in the last quarter. Institutional investors own 56.47% of the company’s stock.

Shares of ORTX stock opened at $0.55 on Thursday. The company has a market capitalization of $69.46 million, a price-to-earnings ratio of -0.47 and a beta of 1.19. Orchard Therapeutics has a one year low of $0.53 and a one year high of $5.99. The company’s fifty day moving average price is $0.73 and its 200-day moving average price is $1.15. The company has a debt-to-equity ratio of 0.15, a current ratio of 6.43 and a quick ratio of 6.43.

Orchard Therapeutics Company Profile (Get Rating)

Orchard Therapeutics plc, a biopharmaceutical company, develops gene therapies for serious and life-threatening rare diseases in the United Kingdom, European Union, and the United States. The company's gene therapy approach seeks to transform a patient's hematopoietic stem cells into a gene-modified cellular drug product to treat the patient's disease through a single administration.

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