H.C. Wainwright Believes Global Blood Therapeutics (GBT) Still Has Room to Grow

In a report released today, Debjit Chattopadhyay from H.C. Wainwright reiterated a Buy rating on Global Blood Therapeutics (GBT), with a price target of $150.00. The company’s shares closed last Wednesday at $81.82, close to its 52-week high of $87.55.

According to TipRanks.com, Chattopadhyay is a 4-star analyst with an average return of 4.3% and a 43.1% success rate. Chattopadhyay covers the Healthcare sector, focusing on stocks such as Allogene Therapeutics, Molecular Partners AG, and Precision BioSciences.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Global Blood Therapeutics with a $106.73 average price target, which is a 37.7% upside from current levels. In a report issued on April 27, Stifel Nicolaus also initiated coverage with a Buy rating on the stock with a $112.00 price target.

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The company has a one-year high of $87.55 and a one-year low of $39.96. Currently, Global Blood Therapeutics has an average volume of 950.6K.

Based on the recent corporate insider activity of 57 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. 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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