Wedbush Keeps Their Buy Rating on Global Blood Therapeutics (GBT)

By Carrie Williams

In a report released today, Liana Moussatos from Wedbush reiterated a Buy rating on Global Blood Therapeutics (GBTResearch Report), with a price target of $120.00. The company’s shares closed last Monday at $48.09.

According to TipRanks.com, Moussatos is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -16.2% and a 25.9% success rate. Moussatos covers the Healthcare sector, focusing on stocks such as BioMarin Pharmaceutical Inc., Allena Pharmaceuticals Inc, and Aquestive Therapeutics Inc.

Global Blood Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $97.50, representing a 102.7% upside. In a report issued on October 4, 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 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 $43.07 million.

Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of GBT in relation to earlier this year.

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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.