Global Blood Therapeutics 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
