William Blair analyst Raju Prasad maintained a Buy rating on Global Blood Therapeutics (GBT) today. The company’s shares closed yesterday at $44.90.
Prasad wrote:
“We continue to view the stock as substantially de-risked with the completion of 24 weeks of therapy in the additional 118 enrolled patients in the Phase III HOPE study , publication of the HOPE Part A data set, and a pre-NDA meeting update in the first half as well as potential Subpart H filing in the second half as key catalysts for shares this year . We also see the company as a potential takeout candidate given the significant unmet medical need in sickle cell disease, the impressive data shown in patients with or without concomitant hydroxyurea, and the alignment of a once-daily , oral therapy dosed (potentially) in perpetuity with the large pharma commercial model. GBT remains our top pick for 2019.”
According to TipRanks.com, Prasad is a 3-star analyst with an average return of 2.1% and a 40.9% success rate. Prasad covers the Healthcare sector, focusing on stocks such as Rocket Pharmaceuticals Inc, Logicbio Therapeutics Inc, and Audentes Therapeutics.
Global Blood Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $88.63, a 97.4% upside from current levels. In a report issued on January 17, SunTrust Robinson also initiated coverage with a Buy rating on the stock with a $90 price target.
See today’s analyst top recommended stocks >>
The company has a one-year high of $68.05 and a one-year low of $30.15. Currently, Global Blood Therapeutics has an average volume of 1.19M.
Based on the recent corporate insider activity of 31 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.
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 the discovering, developing and commercializing novel therapeutics to treat grievous blood-based disorders. It also provides oral medicines for sickle cell diseases.
Read More on GBT:
