William Blair analyst Raju Prasad maintained a Buy rating on Global Blood Therapeutics (NASDAQ: GBT) today. The company’s shares closed yesterday at $43.65.
Prasad noted:
“We believe that the second half of the year remains a pivotal timeframe for the company in which it will discuss the complete results of voxelotor with the FDA to date and make the case for an accelerated approval filing. While shares have remained relatively range-bound since the Phase III top-line data release, an agreement for accelerated approval could send shares appreciably higher (we believe 50%-plus), moving a potential launch to late 2019/early 2020, and we continue to view shares as having a positive risk/reward.”
According to TipRanks.com, Prasad is a 4-star analyst with an average return of 20.3% and a 61.3% success rate. Prasad covers the Healthcare sector, focusing on stocks such as Rocket Pharmaceuticals Inc, Audentes Therapeutics, and Krystal Biotech Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Global Blood Therapeutics with a $85 average price target, implying a 94.7% upside from current levels. In a report issued on July 27, H.C. Wainwright also maintained a Buy rating on the stock with a $125 price target.
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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 1.26M.
Based on the recent corporate insider activity of 46 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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