William Blair analyst Raju Prasad maintained a Buy rating on Global Blood Therapeutics (GBT) today. The company’s shares closed last Wednesday at $64.64.
According to TipRanks.com, Prasad is a 5-star analyst with an average return of 21.9% and a 68.1% success rate. Prasad covers the Healthcare sector, focusing on stocks such as Alexion Pharmaceuticals, Rocket Pharmaceuticals, and Crispr Therapeutics AG.
Currently, the analyst consensus on Global Blood Therapeutics is a Strong Buy with an average price target of $109.60, representing a 64.2% upside. In a report issued on June 9, Cantor Fitzgerald also maintained a Buy rating on the stock with a $130.00 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 revenue of $14.12 million and GAAP net loss of $73.03 million. In comparison, last year the company had a GAAP net loss of $48.92 million.
Based on the recent corporate insider activity of 64 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of GBT in relation to earlier this year.
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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. The company was founded by Matthew P. Jacobson, Andrej Sali, Jack Taunton, Charles J. Homcy, Craig D. Muir and David R. Phillips in February 2011 and is headquartered in South San Francisco, CA.
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