In a report released yesterday, Elemer Piros from Cantor Fitzgerald reiterated a Buy rating on Global Blood Therapeutics (NASDAQ: GBT), with a price target of $69. The company’s shares closed yesterday at $47.55.
Piros observed:
“Based on the existing clinical data, we believe voxelotor offers a compelling treatment option in SCD that lacks disease-modifying therapies. $69 price target is based on the combination of our estimate of the NPV of future cash flows from voxelotor in SCD, worth approximately $3.3 billion ($61/ share), and our estimate of YE18 cash of $400 million ($8/share).”
According to TipRanks.com, Piros is a 1-star analyst with an average return of -1.3% and a 51.1% success rate. Piros covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Strongbridge Biopharma Plc, and Bellicum Pharmaceuticals.
Global Blood Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $72.13.
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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.
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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.
