Global Blood Therapeutics (GBT) Received its Third Buy in a Row

After William Blair and Wedbush gave Global Blood Therapeutics (NASDAQ: GBT) a Buy rating last month, the company received another Buy, this time from J.P. Morgan. Analyst Cory Kasimov maintained a Buy rating on Global Blood Therapeutics today and set a price target of $75. The company’s shares closed yesterday at $55.81.

According to TipRanks.com, Kasimov is a 2-star analyst with an average return of 0.3% and a 41.6% 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 $96.43, a 72.8% upside from current levels. In a report issued on June 3, Wedbush also reiterated a Buy rating on the stock with a $107 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.