After J.P. Morgan and William Blair gave Global Blood Therapeutics (NASDAQ: GBT) a Buy rating last month, the company received another Buy, this time from Cowen & Co. Analyst Ritu Baral maintained a Buy rating on Global Blood Therapeutics yesterday and set a price target of $83. The company’s shares closed last Monday at $52.66.
According to TipRanks.com, Baral is a 5-star analyst with an average return of 20.4% and a 46.3% success rate. Baral covers the Healthcare sector, focusing on stocks such as Milestone Pharmaceuticals Inc, Madrigal Pharmaceuticals Inc, and ACADIA Pharmaceuticals Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Global Blood Therapeutics with a $95.50 average price target, a 75.4% upside from current levels. In a report released yesterday, William Blair also maintained a Buy rating on the stock.
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Based on Global Blood Therapeutics’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $57.32 million. In comparison, last year the company had a GAAP net loss of $40.37 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.
