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


In a report issued on August 2, Cory Kasimov from J.P. Morgan maintained a Buy rating on Global Blood Therapeutics (NASDAQ: GBT), with a price target of $75. The company’s shares closed on Friday at $46.55.

Kasimov said:

“GBT reported 2Q results via press release (no conference call, as usual) that focused on lead program voxelotor in sickle cell disease. The print overall was uneventful as we await a regulatory update at some point in 2H18 on the potential for an accelerated approval filing. The other key event remaining this year is the presentation of detailed data from Part A of the Phase 3 HOPE trial anticipated at ASH in December.”

According to TipRanks.com, Kasimov is a 3-star analyst with an average return of 2.5% and a 41.4% success rate. Kasimov covers the Healthcare sector, focusing on stocks such as ACADIA Pharmaceuticals Inc, Jounce Therapeutics Inc, and Vertex Pharmaceuticals.

Global Blood Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $83.11, representing a 78.5% upside. In a report issued on July 25, William Blair also assigned a Buy rating to the stock.

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The company has a one-year high of $68.05 and a one-year low of $26.10. Currently, Global Blood Therapeutics has an average volume of 1.27M.

Based on the recent corporate insider activity of 51 insiders, corporate insider sentiment is negative on the stock.

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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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