Analysts Offer Insights on Healthcare Companies: Global Blood Therapeutics (NASDAQ: GBT) and Exelixis (NASDAQ: EXEL)

By Jason Carr

Companies in the Healthcare sector have received a lot of coverage today as analysts weigh in on Global Blood Therapeutics (NASDAQ: GBT) and Exelixis (NASDAQ: EXEL).

Global Blood Therapeutics (NASDAQ: GBT)

Cantor Fitzgerald analyst Elemer Piros initiated coverage with a Buy rating on Global Blood Therapeutics (NASDAQ: GBT) today and set a price target of $61. The company’s shares opened today at $36.50, close to its 52-week high of $38.30.

Piros observed:

“Preventing Sickling. GBT440 prevents the formation of abnormal shape (sickling) of red blood cells (RBCs) by modifying hemoglobin to more-strongly retain oxygen and prevent RBCs from entering a fully deoxygenated state. This mechanism of action is well-validated by studies of fetal hemoglobin (HbF), which is associated with a milder form of the disease for the small minority of patients who retain HbF into adulthood.”

According to TipRanks.com, Piros is a 1-star analyst with an average return of -2.5% and a 47.6% success rate. Piros covers the Healthcare sector, focusing on stocks such as Dimension Therapeutics Inc, Bellicum Pharmaceuticals, and Conatus Pharmaceuticals.

Global Blood Therapeutics has an analyst consensus of Strong Buy.

Exelixis (NASDAQ: EXEL)

In a report released today, Leah R. Cann from Oppenheimer initiated coverage with a Hold rating on Exelixis (NASDAQ: EXEL). The company’s shares opened today at $21.80, close to its 52-week high of $23.49.

R. Cann wrote:

“We are initiating coverage of Exelixis, a commercial-stage biotechnology company that is expected to become profitable this year, with a Perform rating. We anticipate Exelixis will continue to develop its commercial drugs, Cabometyx and Cometriq, while its partner Genentech will continue to develop Cotellic.”

According to TipRanks.com, Cann is a 4-star analyst with an average return of 10.8% and a 73.9% success rate. Cann covers the Healthcare sector, focusing on stocks such as CytomX Therapeutics Inc, Seattle Genetics, and Acceleron Pharma.

Currently, the analyst consensus on Exelixis is Moderate Buy and the average price target is $24, representing a 10.1% upside.

In a report issued on February 28, Stifel Nicolaus also downgraded the stock to Hold with a $22 price target.

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