After J.P. Morgan and SunTrust Robinson gave Global Blood Therapeutics (NASDAQ: GBT) a Buy rating last month, the company received another Buy, this time from H.C. Wainwright. Analyst Debjit Chattopadhyay maintained a Buy rating on Global Blood Therapeutics today and set a price target of $150. The company’s shares closed on Friday at $48.44.
Chattopadhyay commented:
“Our Buy rating and $150 are based on a DCF analysis, derived using a beta of 1.40, terminal growth rate of 0.5%, risk premium of 4.93%, calculated WACC of 10.0%, and tax rate of 15% beginning in FY 2024. We estimate approximately 70K patients in U.S., 42K patients in the $60K (increased from $75K and $50K) U.S. and EU launch prices, respectively, a 2020 commercial launch, 70% compliance, and 23% gross-to-net.”
According to TipRanks.com, Chattopadhyay is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -6.1% and a 40.6% success rate. Chattopadhyay covers the Healthcare sector, focusing on stocks such as Voyager Therapeutics Inc, Mersana Therapeutics Inc, and Autolus Therapeutics Plc.
Currently, the analyst consensus on Global Blood Therapeutics is a Strong Buy with an average price target of $88.63, which is an 83.0% upside from current levels. In a report issued on January 30, 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 24 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.
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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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