71.35 0.00 (0.00%)
After hours: 4:51PM EST
|Bid||71.51 x 1100|
|Ask||71.36 x 1400|
|Day's Range||70.72 - 72.67|
|52 Week Range||44.17 - 87.54|
|Beta (5Y Monthly)||1.77|
|PE Ratio (TTM)||N/A|
|Earnings Date||Feb 25, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||101.44|
SOUTH SAN FRANCISCO, Calif., Feb. 19, 2020 -- Global Blood Therapeutics, Inc. (GBT) (NASDAQ: GBT) today announced that it will report financial results for the fourth quarter.
While other venture capital firms spent the Great Recession paring back or running away from biotech, newbie Third Rock Ventures went all in. Now with a fifth fund totaling $770 million, the Boston VC says it will plow more cash into — if not create more — Bay Area life sciences companies. The 10 or 12 companies Third Rock will seed overall with its fifth and largest fund in 13 years will translate into three or four in the Bay Area — roughly a third of the fund, said partner Jeff Tong — but the fund likely will supply more cash to those ventures.
SOUTH SAN FRANCISCO, Calif., Feb. 03, 2020 -- Global Blood Therapeutics, Inc. (GBT) (NASDAQ: GBT) today announced that on February 1, 2020, the compensation committee of GBT’s.
At the end of the day, investors want to see returns. To accomplish this goal, seasoned Wall Street observers often turn to one strategy time and time again: growth investing. A solid growth play is a name that appears poised to not only grow at an above-average rate but also reward investors handsomely over the long run.Rolling up their sleeves, investors are pounding the Wall Street pavement in search of the tickers with impressive long-term growth prospects. However, having a target in mind is one thing, but zeroing in on these stocks primed for stellar gains in the coming years is another story entirely. This task also isn’t made any easier by the fact that 2019 saw the S&P 500 post its largest yearly gain since 2013, closing the year up 29% and starting out 2020 with an increase of 2%.Luckily, TipRanks, a company that tracks and measures the performance of analysts, can lend investors a hand. After using the platform’s Stock Screener tool during our own search, we were able to unmask 3 Buy-rated stocks flagged by the analysts for their strong long-term growth narratives. On top of this, each boasts substantial upside potential from the current share price.Here’s the full scoop.Global Blood Therapeutics Inc. (GBT)Global Blood Therapeutics is focused on developing treatments for underserved patient communities. With one therapy for sickle cell disease, a group of disorders that impacts hemoglobin in blood cells, already approved and another candidate for the disease in development, some analysts believe that its 94% gain in 2019 is just the beginning.Back in November, the company got some good news when the FDA granted its lead candidate, Oxbryta, accelerated approval for use in adults and children 12 years and older with sickle cell disease based on the results of the pivotal Phase 3 HOPE study. In the study, the drug was able to produce a rapid, potent and durable improvement in hemoglobin. With the ruling coming three months before the original PDUFA date, it’s no wonder Wall Street pros are excited. To top it all off, the label for Oxbryta is clean and broad, and the therapy can be administered alone or in combination with hydroxyurea.H.C. Wainwright’s Debjit Chattopadhyay does remind investors that the company is still required to continue the HOPE-KIDS 2 study to demonstrate decreased risk of stroke in children 2 to 15 years old. That being said, the four-star analyst expects the results to be similar to the HOPE Phase 3 program findings. “Additionally, because the HOPE-KIDS 2 study is enrolling patients as young as 2 years of age, data could be leveraged for label expansion to treat patients under 12,” Chattopadhyay commented.As the analyst sees the drug’s U.S. sales reaching $1.2 billion in 2024, it makes sense that he reiterated both a Buy rating and $150 price target. Should the target be met, shares could be in for a 105% twelve-month gain. (To watch Chattopadhyay’s track record, click here)Like Chattopadhyay, Wedbush analyst Liana Moussatos takes a bullish approach. With no price increases expected for three years and little to no competition anticipated from Novartis’ recently released ADAKVEO antibody treatment for sickle cell disease, the analyst thinks the market opportunity is large. Bearing this in mind, she bumped up the price target from $120 to $143 in addition to maintaining her bullish call. (To watch Moussatos’ track record, click here)In terms of the rest of the Street, a majority of analysts also see GBT as a Buy, 13 out of 16 to be exact. As a result, the consensus rating is a Strong Buy. Given the $102.20 average price target, the upside potential lands at 40%. (See Global Blood Therapeutics stock analysis on TipRanks) Zynga Inc. (ZNGA)Zynga is best known for being the force behind wildly popular games such as “Words With Friends”, “Empires & Puzzles” and “Merge Dragon”. After posting an impressive 70% climb in 2019, does the video game developer still have more fuel left in the tank?According to SunTrust Robinson’s Matthew Thornton, the answer is yes. In his initiation note, the analyst points out that the already large gaming market, which was worth about $83 billion in 2019, is still expanding, with a 5-year 2018-2023 CAGR of 9.9%. He tells investors the companies that can prosper in this competitive and fragmented environment will be those with platform-exposure to the market, publishers with unique franchises or IP, network scale and ability to fund and execute robust live services, pipeline development and M&A. Based on this, Thornton has high hopes for ZNGA.“ZNGA provides pure-play exposure to the large and fast growing global mobile gaming market with a growing (31% pro forma in 3Q19, driven by Merge Dragons and Empires & Puzzles) and diversified existing game portfolio and highly experienced management team and Board. In addition to a healthy existing portfolio, ZNGA has a strong pipeline (at least 7 games, including FarmVille, Harry Potter, Star Wars, Game of Thrones, and others) as well as a strong balance sheet and acquisition track record to augment organic growth with M&A in what is a highly fragmented market,” he wrote.Taking all of this into consideration, the four-star analyst puts the 2-year 2019-2021 revenue and EBITDA CAGR at 13% and 18%, respectively. Not to mention the company is also expected to surpass consensus estimates over the next few years.In line with his bullish thesis, Thornton started his ZNGA coverage with a Buy recommendation. In addition, he set a $7.50 price target, indicating that shares could surge 23% in the next twelve months. (To watch Thornton’s track record, click here)Looking at the consensus breakdown, 6 Buys, 1 Hold and 1 Sell published in the last three months add up to a Moderate Buy. With a $7.50 average price target, the upside potential matches Thornton’s forecast. (See Zynga stock analysis on TipRanks) FTI Consulting, Inc. (FCN)Operating as a global business advisory firm, FTI Consulting offers its clients transactional, operational, financial, legal and reputational services. In 2019, the company saw shares climb 66% higher, and one analyst is betting that this run can continue in 2020.SunTrust Robinson’s Tobey Sommer argues that for the first time in its history, FTI has created a sustainable organic growth firm that constantly adds new employees so that it can offer “adjacent services”. Among these new services are business transformation, public affairs, cyber and global construction disputes. “We believe that FCN should be able to hire a steady stream of experienced talent from Big 4 accounting firms in Europe who are worried that emerging regulatory scrutiny will conflict them out of work from key relationships,” he noted.Additionally, Sommer cites several key upcoming catalysts as putting FCN on an upward trajectory. He thinks that fourth quarter revenue and EBITDA should beat the Street’s estimates, with the midpoint for initial 2020 guidance falling in line with expectations.He added, “From the initial guidance, we expect material upside results throughout the year propelled by headcount growth (year-over-year consultant headcount rose 17% in 3Q19), pricing could increase above trend and regulatory investigations into global tech firms could drive antitrust work.”It’s no surprise, then, that the five-star analyst stayed with the bulls, leaving the Buy rating unchanged. If that wasn’t enough, he gave the price target a boost, increasing the figure from $130 to $155. This bolstered target conveys his confidence in FCN’s ability to jump 31% in the twelve months ahead. (To watch Sommer’s track record, click here)When it comes to other analyst activity, it has been relatively quiet on Wall Street. As Sommer is the only analyst that has reviewed FCN recently, the word on the Street is that the stock is a Moderate Buy. The average price target and upside potential are also the same as the SunTrust Robinson analyst’s. (See FTI Consulting stock analysis on TipRanks)
Out of thousands of stocks that are currently traded on the market, it is difficult to identify those that will really generate strong returns. Hedge funds and institutional investors spend millions of dollars on analysts with MBAs and PhDs, who are industry experts and well connected to other industry and media insiders on top of that. Individual investors can piggyback […]
Global Blood Therapeutics, Inc. (GBT) (GBT) today announced that it will present at the 38th Annual J.P. Morgan Healthcare Conference on Tuesday, January 14, 2020, at 4:00 p.m. Pacific Time. The presentation and Q&A session will be webcast live from GBT’s website at www.gbt.com in the Investors section. GBT is a biopharmaceutical company dedicated to the discovery, development and delivery of life-changing treatments that provide hope to underserved patient communities.
The Business Times devoted our first print edition of the year to previewing the companies, people and trends to watch across the Bay Area's main industries in 2020. Here's a look at what to expect in biotech and health. People to Watch Jennifer Doudna, UC Berkeley: Will 2020 be the year when gene-editing CRISPR technology co-inventor Jennifer Doudna wins the Nobel Prize?
Shares of Global Blood Therapeutics (GBT) have gained in the past year as its lead candidate voxelotor gets FDA approval for the treatment of SCD in patients aged 12 years or above.
In this daily bar chart of ALLK, below, we can see an "interesting" chart pattern. The daily On-Balance-Volume (OBV) responded on the upside and confirms the price gains. In this weekly bar chart of ALLK, below, we do not have much price history to manipulate.
In the wake of its FDA nod, the South City company has lined up a $150 million loan agreement and, separately, a potential $375 million partnership with Syros Pharmaceuticals.
If you're interested in Global Blood Therapeutics, Inc. (NASDAQ:GBT), then you might want to consider its beta (a...
Global Blood Therapeutics Inc. and Syros Pharmaceuticals Inc. announced a partnership to develop and commercialize therapies for sickle cell disease and beta thalassemia. Sickle cell disease is a set of inherited red blood cell disorders commonly afflicting people of African or Latin background. Beta thalassemia is a blood disorder that reduces hemoglobin production. Syros will use its gene control platform to find drugs that induce fetal hemoglobin and Global Blood Therapeutics will develop, manufacture and commercialize the resulting products. Nancy Simonian, M.D., chief executive of Syros, said the company believes it's "possible to provide a functional cure" for patients with these disorders. Global Blood Therapeutics will pay Syros $20 million initially and fund up to $40 million in preclinical research for at least three years. Syros could receive up to $315 million per product candidate and product resulting from the partnership. Syros could also co-promote the first product resulting from the collaboration in the U.S. Global Blood Therapeutics shares are down 5.5% in Wednesday premarket trading, but up 90% for the past year. Syros Pharmaceuticals stock jumped nearly 12% in premarket trading, but are down 35.6% for the last 12 months. The S&P 500 index has gained 25.4% for the past year.
Global Blood Therapeutics, Inc. (GBT) (GBT) today announced that it has entered into a $150 million loan agreement with funds managed by Pharmakon Advisors LP, a leading global life sciences investment firm and manager of the BioPharma Credit funds. “This non-dilutive loan provides us with the financial flexibility to advance the discovery and development of potential novel treatments for sickle cell disease and other grievous blood-based conditions without diverting financial resources from the launch of our first medicine Oxbryta, which was approved by the U.S. Food and Drug Administration last month,” said Jeff Farrow, chief financial officer of GBT. The non-dilutive loan agreement provides GBT with a $150 million term loan.
Global Blood Therapeutics, Inc. (GBT) (GBT) and Syros Pharmaceuticals, Inc. (SYRS) today announced that they have entered into a collaboration to discover, develop and commercialize novel therapies for sickle cell disease (SCD) and beta thalassemia. Under the agreement, Syros will use its leading gene control platform to identify therapeutic targets and discover drugs that induce fetal hemoglobin, and GBT will receive an option to obtain an exclusive worldwide license to develop, manufacture and commercialize products resulting from the collaboration.
We are still in an overall bull market and many stocks that smart money investors were piling into surged through the end of November. Among them, Facebook and Microsoft ranked among the top 3 picks and these stocks gained 54% and 51% respectively. Hedge funds' top 3 stock picks returned 41.7% this year and beat […]
Global Blood Therapeutics broke out to new highs last week and remains strong today. Let's check out the charts of this clinical-stage biopharmaceutical company. In this daily bar chart of GBT, below, we can see that prices made a straight up rally in November breaking above the June 2019 highs.
The biotech space of the broad healthcare sector outperformed others in November, courtesy of a series of positive news including study results, regulatory backdrop and deal activities.
The Zacks Analyst Blog Highlights: Intercept, CymaBay, Amgen, Global Blood Therapeutics and ChemoCentryx