Oppenheimer Sticks to Their Buy Rating for Global Blood Therapeutics (GBT)

In a report released today, Mark Breidenbach from Oppenheimer maintained a Buy rating on Global Blood Therapeutics (GBT), with a price target of $88.00. The company’s shares closed last Monday at $47.21, close to its 52-week low of $39.96.

According to TipRanks.com, Breidenbach is a 1-star analyst with an average return of -2.1% and a 33.3% success rate. Breidenbach covers the Healthcare sector, focusing on stocks such as Iovance Biotherapeutics, Syros Pharmaceuticals, and Allogene Therapeutics.

Global Blood Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $100.15, implying a 135.3% 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 December 31, the company reported a quarterly GAAP net loss of $95.98 million. In comparison, last year the company had a GAAP net loss of $49.2 million.

Based on the recent corporate insider activity of 63 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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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