In a report released yesterday, Christopher Marai from Nomura maintained a Buy rating on Global Blood Therapeutics (GBT), with a price target of $112.00. The company’s shares closed last Monday at $71.74.
According to TipRanks.com, Marai is a 4-star analyst with an average return of 5.0% and a 50.0% success rate. Marai covers the Healthcare sector, focusing on stocks such as Protagonist Therapeutics, Alexion Pharmaceuticals, and BioMarin Pharmaceutical.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Global Blood Therapeutics with a $103.53 average price target, a 44.1% upside from current levels. In a report issued on February 12, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $105.00 price target.
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Based on Global Blood Therapeutics’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $64.55 million. In comparison, last year the company had a GAAP net loss of $49.2 million.
Based on the recent corporate insider activity of 57 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. Most recently, in December 2019, Philip Pizzo, a Director at GBT sold 30,000 shares for a total of $2,297,156.
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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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