Global Blood shares have ‘significant upside’ into end of 2018, says Nomura

After attending the Annual Sickle Cell Disease Therapeutics Conference, hosted by Global Blood Therapeutics, Nomura Instinet analyst Christopher Marai has a strengthened view that a voxelotor new drug application submission will occur by the end of 2018. Further, the company will likely receive accelerated approval based on data to date, Marai tells investors in a research note. The analyst recommends buying shares of Global Blood and believes the recent pullback is “unfounded” on the back of key takeaways from the SCD conference. He sees “significant upside” for the shares into a year-end NDA submission. Marai keeps a Buy rating on Global Blood Therapeutics with a $109 price target.
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