Oppenheimer analyst Mark Breidenbach raised his price target for Global Blood Therapeutics to $82 from $74 after the company reported Q3 earnings. Before year end, the analyst expects the company to announce the outcome of its discussions with the FDA regarding an accelerated approval path for voxelotor. If an agreement has been reached, GBT could file for Subpart H approval in mid-2019 based on hematological data collected from about 270 patients in the Phase 3 HOPE trial, he notes. At ASH, Breidenbach expects it to strengthen its case for accelerated approval. The analyst reiterates an Outperform rating on the shares.
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