In a report released today, Raju Prasad from William Blair maintained a Buy rating on Global Blood Therapeutics (GBT). The company’s shares closed last Monday at $53.29.
Prasad observed:
“We continue to believe the mechanism of action of voxelotor and efficacy/ safety profile in sickle cell disease should lead voxelotor to become a mainstay of treatment for patients and gives us confidence in its blockbuster potential, if approved. Our model assumes U.S. revenue of about $1.5 billion, EU revenue of roughly $310 million, and licensing revenue of about $15 million by 2027.”
According to TipRanks.com, Prasad is a 4-star analyst with an average return of 12.8% and a 49.6% success rate. Prasad covers the Healthcare sector, focusing on stocks such as Rocket Pharmaceuticals Inc, Allogene Therapeutics Inc, and Logicbio Therapeutics Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Global Blood Therapeutics with a $93.78 average price target.
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The company has a one-year high of $64.94 and a one-year low of $30.15. Currently, Global Blood Therapeutics has an average volume of 921.1K.
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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.
