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Monday, April 1, 2019

Global Blood Therapeutics price target raised to $96 from $85 at Wells Fargo

Wells Fargo analyst Jim raised his price target for Global Blood Therapeutics to $96 from $85 following senior management meetings with investors in Europe last week. Overall, the analyst came away with continued confidence in voxelotor safety and efficacy, prospects for accelerated approval, positioning within the evolving SCD market, opportunity for additional growth beyond initial labeling and broader opportunity to lead a transformation of SCD treatment in a similar way as seen previously in blood disorders like myeloma. Birchenough reiterates an Outperform rating on the shares.

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