After William Blair and H.C. Wainwright gave Global Blood Therapeutics (NASDAQ: GBT) a Buy rating last month, the company received another Buy, this time from Cowen & Co. Analyst Ritu Baral maintained a Buy rating on Global Blood Therapeutics today and set a price target of $83. The company’s shares opened today at $48.
According to TipRanks.com, Baral is a top 100 analyst with an average return of 33.8% and a 54.3% success rate. Baral covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Allena Pharmaceuticals Inc, and Intra-Cellular Therapies.
Global Blood Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $83.44, which is a 73.8% upside from current levels. In a report issued on July 25, William Blair also assigned a Buy rating to the stock.
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Based on Global Blood Therapeutics’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $40.37 million. In comparison, last year the company had a GAAP net loss of $23.88 million.
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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