In a report released today, Andreas Argyrides from Wedbush reiterated a Buy rating on Global Blood Therapeutics (GBT – Research Report), with a price target of $74.00. The company’s shares closed last Wednesday at $30.86.
According to TipRanks.com, Argyrides has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -27.5% and a 22.7% success rate. Argyrides covers the Healthcare sector, focusing on stocks such as Rani Therapeutics Holdings, BioMarin Pharmaceutical, and Kala Pharmaceuticals.
Currently, the analyst consensus on Global Blood Therapeutics is a Strong Buy with an average price target of $58.25.
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Based on Global Blood Therapeutics’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $55.16 million and GAAP net loss of $81.42 million. In comparison, last year the company earned revenue of $39.04 million and had a GAAP net loss of $74.93 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.
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