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Global Blood (GBT) in Focus: Stock Moves 5.2% Higher

Zacks Equity Research

Global Blood Therapeutics, Inc. GBT was a big mover last session, as the company saw its shares rise more than 5% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This continues the recent uptrend for the company as the stock is now up 34.4% in the past one-month time frame.

The stock gained after the company reported that the FDA has approved its lead product candidate Oxbryta (voxelotor) as an oral, once-daily treatment for sickle cell disease (SCD) in patients aged 12 years and above.

The company has seen eight negative estimate revisions in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past few weeks, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.

Global Blood currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.  

Global Blood Therapeutics, Inc. Price

Global Blood Therapeutics, Inc. Price

Global Blood Therapeutics, Inc. price | Global Blood Therapeutics, Inc. Quote

A better-ranked stock in the Medical - Biomedical and Genetics industry is Alkermes plc ALKS, which currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

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