In a report released yesterday, Mark Breidenbach from Oppenheimer assigned a Buy rating to Global Blood Therapeutics (GBT), with a price target of $101.00. The company’s shares closed last Friday at $62.66.
According to TipRanks.com, Breidenbach is a 4-star analyst with an average return of 8.2% and a 44.4% success rate. Breidenbach covers the Healthcare sector, focusing on stocks such as Iovance Biotherapeutics, Arvinas Holding Company, and Alpine Immune Sciences.
Currently, the analyst consensus on Global Blood Therapeutics is a Strong Buy with an average price target of $107.18, representing a 60.0% 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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The company has a one-year high of $87.54 and a one-year low of $39.95. Currently, Global Blood Therapeutics has an average volume of 912K.
Based on the recent corporate insider activity of 63 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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