Oppenheimer Gives a Buy Rating to Global Blood Therapeutics (GBT)

Oppenheimer analyst Mark Breidenbach assigned a Buy rating to Global Blood Therapeutics (GBTResearch Report) today and set a price target of $92.00. The company’s shares closed last Wednesday at $50.05.

According to TipRanks.com, Breidenbach is a 5-star analyst with an average return of 22.8% and a 50.4% success rate. Breidenbach covers the Healthcare sector, focusing on stocks such as Arvinas Holding Company, Iovance Biotherapeutics, and Alpine Immune Sciences.

Global Blood Therapeutics has an analyst consensus of Moderate Buy, with a price target consensus of $85.27, which is an 80.5% upside from current levels. In a report issued on January 12, J.P. Morgan also maintained a Buy rating on the stock.

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Based on Global Blood Therapeutics’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $36.89 million and GAAP net loss of $59.88 million. In comparison, last year the company had a GAAP net loss of $64.55 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. The company was founded by Matthew P. Jacobson, Andrej Sali, Jack Taunton, Charles J. Homcy, Craig D. Muir and David R. Phillips in February 2011 and is headquartered in South San Francisco, CA.