Global Blood Therapeutics (GBT) Gets a Hold Rating from Canaccord Genuity
Canaccord Genuity analyst John Newman maintained a Hold rating on Global Blood Therapeutics (GBT) yesterday and set a price target of $60.00. The company’s shares closed last Monday at $47.21, close to its 52-week low of $39.96.
According to TipRanks.com, Newman is a 5-star analyst with an average return of 10.4% and a 40.3% success rate. Newman covers the Healthcare sector, focusing on stocks such as Hutchison China MediTech, Atara Biotherapeutics, and Allogene Therapeutics.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Global Blood Therapeutics with a $100.15 average price target, implying a 135.3% upside from current levels. In a report issued on March 3, Morgan Stanley also maintained a Hold rating on the stock with a $71.00 price target.
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Based on Global Blood Therapeutics’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $95.98 million. In comparison, last year the company had a GAAP net loss of $49.2 million.
Based on the recent corporate insider activity of 63 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.
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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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