In a report released today, Matthew Harrison from Morgan Stanley maintained a Hold rating on Global Blood Therapeutics (GBT), with a price target of $67.00. The company’s shares closed last Friday at $38.08.
According to TipRanks.com, Harrison is a 5-star analyst with an average return of 18.1% and a 62.1% success rate. Harrison covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co, Freeline Therapeutics Holdings, and Zentalis Pharmaceuticals.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Global Blood Therapeutics with a $90.57 average price target, representing a 125.1% upside. In a report released today, Raymond James also downgraded the stock to Hold.
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Based on Global Blood Therapeutics’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $31.5 million and GAAP net loss of $52.84 million. In comparison, last year the company had a GAAP net loss of $57.32 million.
Based on the recent corporate insider activity of 70 insiders, corporate insider sentiment is neutral on the stock.
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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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