Tag Archives: gbt

Analyst Coverage Starts On Global Blood, Post IPO

Several analysts initiated coverage on Global Blood Therapeutics (GBT), which rates among the top five IPOs this year after popping more than 100% on its first day of trading and touched a new high of 57 in early trading Tuesday. Morgan Stanley initiated coverage with an overweight rating and a price target of 67. Analyst Mathew Harrison, in the research report, said Global Blood Therapeutics offers “a potentially transformative sickle cell

IPO Stock Watch: Global Blood Doubles On First Day

Global Blood Therapeutics (GBT) shrugged off the recent slump in biotech stocks and screamed up 130% as of late afternoon on its first day of trading Wednesday, after pricing its 6-million-share IPO at 20, above the expected range. The initial public offering raised $120 million. Global Blood is developing treatments for blood disorders, particularly sickle-cell disease (SCD), a genetic condition that causes anemia. Its lead candidate entered