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Fly News Breaks for November 21, 2019
ALNY, GBT
Nov 21, 2019 | 07:16 EDT
In light of Alnylam's (ALNY) early approval for givosiran yesterday as well as Adakveo's approval for sickle cell disease ahead of the FDA action date, Cantor Fitzgerald analyst Alethia Young wonders if a similar timeline will also occur with Global Blood Therapeutics' voxelotor, which has a PDUFA of February 26, 2020. The analyst is "increasingly confident" that voxelotor might be approved before year-end. The current consensus sales estimate for voxelotor in 2020 is $45M, which "looks reasonable," contends Young. She thinks Global Blood shares could trade up "at least" 5%-10% on an early approval and a label in line with expectations. The analyst keeps an Overweight rating on the shares with a $110 price target.
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