Global Blood Therapeutics Received its Third Buy in a Row


After Needham and William Blair gave Global Blood Therapeutics (NASDAQ: GBT) a Buy rating last month, the company received another Buy, this time from Wedbush. Analyst Liana Moussatos reiterated a Buy rating on Global Blood Therapeutics today and set a price target of $70. The company’s shares closed on Friday at $46.10.

According to TipRanks.com, Moussatos is a 4-star analyst with an average return of 10.3% and a 45.3% success rate. Moussatos covers the Healthcare sector, focusing on stocks such as Allena Pharmaceuticals Inc, Catabasis Pharmaceuticals, and Miragen Therapeutics Inc.

Currently, the analyst consensus on Global Blood Therapeutics is Strong Buy and the average price target is $72.50, representing a 57.3% upside.

In a report issued on May 7, Oppenheimer also assigned a Buy rating to the stock with a $74 price target.

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Based on Global Blood Therapeutics’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $41.56 million. In comparison, last year the company had a GAAP net loss of $23.33 million.

Based on the recent corporate insider activity of 51 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. Most recently, in March 2018, Sham Hing, the SVP, Research of GBT bought 10,714 shares for a total of $5,250.

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 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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