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Why Global Blood Therapeutics Is Trading Higher Today

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Why Global Blood Therapeutics Is Trading Higher Today

Global Blood Therapeutics (NASDAQ: GBT) shares are trading higher on Tuesday after Raymond James initiated coverage on the company's stock with an Outperform rating and announced a $115 price target.

Global Blood Therapeutics discovers and develops novel therapeutics to address blood-based disorders. GBT440, its lead drug candidate targets the underlying mechanism of red blood cell (RBC) sickling, which provides the potential to treat sickle cell disease. GBT440. an oral, once-daily therapy arrests abnormal hemoglobin polymerization, the underlying mechanism of RBC sickling.

In addition, the company is engaged in other research and development activities targeted at hereditary angioedema and owns exclusively licensed rights to its portfolio of product candidates in the United States, Europe, and other major markets.

Global Blood Therapeutics shares were trading up 2.06% at $63.90 on Tuesday during the time of publication. The stock has a 52-week high of $87.54 and a 52-week low of $39.95.

Latest Ratings for GBT

DateFirmActionFromTo
Aug 2020Raymond JamesInitiates Coverage OnOutperform
Aug 2020StifelMaintainsBuy
Jul 2020Roth CapitalInitiates Coverage OnBuy

View More Analyst Ratings for GBT
View the Latest Analyst Ratings

 

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Latest Ratings

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TALUBSMaintains109.0
SPROEvercore ISI GroupInitiates Coverage On70.0
DYNTAegis CapitalMaintains1.7
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VRMPiper SandlerMaintains81.0
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