Global Blood Therapeutics (GBT) Gets a Buy Rating from J.P. Morgan


J.P. Morgan analyst Cory Kasimov maintained a Buy rating on Global Blood Therapeutics (GBT) on January 8. The company’s shares closed yesterday at $42.90.

According to TipRanks.com, Kasimov is a 2-star analyst with an average return of -0.2% and a 38.7% success rate. Kasimov covers the Healthcare sector, focusing on stocks such as ACADIA Pharmaceuticals Inc, Allogene Therapeutics Inc, and Jounce Therapeutics Inc.

Currently, the analyst consensus on Global Blood Therapeutics is a Strong Buy with an average price target of $90.89, representing an 111.9% upside. In a report issued on January 2, William Blair also maintained a Buy rating on the stock.

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Based on Global Blood Therapeutics’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $43.07 million. In comparison, last year the company had a GAAP net loss of $41.25 million.

Based on the recent corporate insider activity of 46 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of GBT in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Global Blood Therapeutics, Inc. is a clinical-stage biopharmaceutical company, which engages in the discovering, developing and commercializing novel therapeutics to treat grievous blood-based disorders. It also provides oral medicines for sickle cell diseases.

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