Global Blood Therapeutics (GBT) Receives a Buy from J.P. Morgan

By Ryan Adsit

J.P. Morgan analyst Cory Kasimov maintained a Buy rating on Global Blood Therapeutics (GBTResearch Report) on August 7 and set a price target of $75. The company’s shares closed on Friday at $48.79.

According to TipRanks.com, Kasimov is a 4-star analyst with an average return of 2.9% and a 44.4% success rate. Kasimov covers the Healthcare sector, focusing on stocks such as Ultragenyx Pharmaceutical, Inc., BioMarin Pharmaceutical Inc., and ACADIA Pharmaceuticals Inc.

Currently, the analyst consensus on Global Blood Therapeutics is a Strong Buy with an average price target of $90, which is an 84.5% upside from current levels. In a report issued on August 7, William Blair also maintained a Buy rating on the stock.

See today’s analyst top recommended stocks >>

Based on Global Blood Therapeutics’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $57.32 million. In comparison, last year the company had a GAAP net loss of $40.37 million.

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.