Wedbush Remains a Buy on Global Blood Therapeutics (GBT)

By Carrie Williams

Wedbush analyst Liana Moussatos reiterated a Buy rating on Global Blood Therapeutics (GBTResearch Report) today and set a price target of $107. The company’s shares closed on Friday at $53.98.

According to TipRanks.com, Moussatos is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -9.9% and a 31.2% success rate. Moussatos covers the Healthcare sector, focusing on stocks such as BioMarin Pharmaceutical Inc., Aquestive Therapeutics Inc, and Allena Pharmaceuticals Inc.

Currently, the analyst consensus on Global Blood Therapeutics is a Strong Buy with an average price target of $96.13, representing a 78.1% upside. In a report issued on June 14, H.C. Wainwright also maintained a Buy rating on the stock with a $150 price target.

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Based on Global Blood Therapeutics’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $48.92 million. In comparison, last year the company had a GAAP net loss of $41.56 million.

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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.