See Why Jefferies Sees Massive Upside In Global Blood Therapeutics

Vandana Singh

Thu, Oct 7, 2021, 10:44 AM1 min read

Jefferies initiated coverage of Global Blood Therapeutics Inc (NASDAQ: GBT) with a Buy rating and $68 price target. The analyst sees an upside of almost 145%.
Oxbryta's implied sickle cell disease (SCD) market share is only 5%-6% at the stock's current valuation.
Still, analyst Akash Tewari sees a 22% share and models $1.1 billion in peak sales for the drug in that indication.
Related: Global Blood's Sickle Cell Medicine Under FDA Review For Expanded Use.
Meanwhile, Tewari calls GBT601 "the most promising preclinical candidate in development for SCD" and sees both valuation and timing making the stock "a top pick heading into ASH," the analyst said.
Related: Global Blood Shoots 17% Higher As Q2 Earnings Beat Estimates; Analyst Upgrades Stock.
Price Action: GBT stock is up 9.96% at $27.94 during the market session on the last check Thursday.

Latest Ratings for GBT

Oct 2021	Jefferies	Initiates Coverage On		Buy
Aug 2021	Truist Securities	Upgrades	Hold	Buy
Jun 2021	JP Morgan	Downgrades	Overweight	Neutral

View More Analyst Ratings for GBT
View the Latest Analyst Ratings

See more from Benzinga

Mark Zuckerberg got $24.4 million in ‘other compensation’ in 2023—but Meta also treated staff well, with the median employee making $379,000
On paper, Mark Zuckerberg is Meta’s lowest-paid employee, with a $1 dollar salary and no bonus.
Fortune•22h ago
$433 Billion Gone! One Stock Loses More Value Than Tesla
Tesla's loss of $328.3 billion this year in stock value certainly hurts. But it's only the second-largest market value loss in the S&P 500.
Investor's Business Daily•22h ago
Analysts reset Microsoft stock price targets ahead of highly anticipated earnings
Microsoft, which overtook Apple as the world's most valuable company earlier this year, is looking to cement its AI market leadership.
TheStreet•10h ago
China's Temu Takes Over 17% Of US Market Share, Cutting Jobs From American Amazon And Decimating Small Businesses
With rising inflation, American consumers are increasingly turning to the Chinese e-commerce platform Temu for their shopping needs. With its enticing tagline “Shop like a billionaire,” Temu has captured 17% of the U.S. market share, posing a challenge to traditional American retailers such as Amazon.com Inc., Dollar Tree Inc. and Five Below Inc. The rise highlights the lucrative and disruptive nature of startups. Owned and operated by PDD Holdings Inc. (NASDAQ:PDD), Temu offers a wide range of
Benzinga•13h ago
Analysts reboot Amazon stock price target ahead of earnings
This is what could happen next to Amazon shares.
TheStreet•10h ago
Suze Orman Decided To Drop Homeowners Insurance After An Outrageous Quote: '$28,000 For A 2,100-Square-Foot Condo. Are You Kidding Me?'
Finance expert Suze Orman has voiced concerns about the impact of climate change on property insurance costs, asserting it could threaten the American dream of homeownership. Orman, 72, faced a $28,000 annual insurance quote for her Florida oceanside condo, leading her to forego coverage entirely. She highlights a troubling trend where soaring insurance costs driven by frequent and severe weather events may deter Americans from buying homes. Don't Miss: For many first-time buyers, a house is abo
Benzinga•2d ago
This Artificial Intelligence (AI) Stock Could Soar 70%, According to Wall Street. Time to Buy?
This company's exciting technology is protected by more than 100 patents.
Motley Fool•29m ago
Slow, but solid US economic growth anticipated in Q1; inflation likely heats up
U.S. economic growth likely slowed to a still-solid pace in the first quarter while inflation accelerated, reinforcing financial market expectations that the Federal Reserve would delay cutting interest rates until September. The Commerce Department's snapshot of first-quarter gross domestic product on Thursday is expected to show consumers still doing the heavy lifting for the economy, thanks to a resilient labor market. The economy has defied prophecies of doom since late 2022 following the U.S. central bank's aggressive rate hiking campaign to snuff out inflation.
Reuters•6h ago
Meta stock plummets 15% after second quarter outlook disappoints
Meta reported its Q1 earnings after the bell, beating analysts' expectations on the top and bottom, but a disappointing Q2 forecast sent shares falling.
Yahoo Finance•14h ago
Intel Earnings Day Is Here. Better PC Demand Could Provide a Boost.
Intel stock bulls will need to remain patient, with multiple quarters to go before the chip company gains traction for a bet-the-company push to compete with Taiwan Semiconductor Manufacturing and Samsung in the chip-manufacturing business. Meanwhile, Intel’s first-quarter-earnings report, due after the close of trading Thursday, could show signs of improving demand from the PC segment. Citi analyst Christopher Danely, while maintaining a Neutral rating on Intel shares, recently launched an “upside catalyst watch” on the stock, which is down 32% year to date, largely due to recent disclosures of larger-than-expected losses on the company’s foundry business.
Barrons.com•2h ago

News

Life

Entertainment

Finance

Sports

New on Yahoo

Yahoo Finance

See Why Jefferies Sees Massive Upside In Global Blood Therapeutics

Recommended Stories

Mark Zuckerberg got $24.4 million in ‘other compensation’ in 2023—but Meta also treated staff well, with the median employee making $379,000

$433 Billion Gone! One Stock Loses More Value Than Tesla

Analysts reset Microsoft stock price targets ahead of highly anticipated earnings

China's Temu Takes Over 17% Of US Market Share, Cutting Jobs From American Amazon And Decimating Small Businesses

Analysts reboot Amazon stock price target ahead of earnings

Suze Orman Decided To Drop Homeowners Insurance After An Outrageous Quote: '$28,000 For A 2,100-Square-Foot Condo. Are You Kidding Me?'

This Artificial Intelligence (AI) Stock Could Soar 70%, According to Wall Street. Time to Buy?

Slow, but solid US economic growth anticipated in Q1; inflation likely heats up

Meta stock plummets 15% after second quarter outlook disappoints

Intel Earnings Day Is Here. Better PC Demand Could Provide a Boost.