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Why Global Blood Therapeutics Is Trading Higher Today

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Tanzeel Akhtar
·1 min read
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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

Aug 2020

Raymond James

Initiates Coverage On

Outperform

Aug 2020

Stifel

Maintains

Buy

Jul 2020

Roth Capital

Initiates Coverage On

Buy

View More Analyst Ratings for GBT
View the Latest Analyst Ratings

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