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Fly News Breaks for June 27, 2018
GBT
Jun 27, 2018 | 09:49 EDT
As previously reported, Cantor Fitzgerald analyst Elemer Piros raised his price target on Global Blood Therapeutics to $96 from $69 after the company reported "robust" HOPE Part A data in 154 patients that boosted his confidence about the company's sickle cell disease treatment. He believes the data provide further support of the treatment's potential for approval and he increased his probability of success for voxelotor to 75% from 70%. Piros, who thinks an oral small molecule treatment such as voxelotor has a best-in-class commercial profile, noted that Global Blood plans to seek accelerated approval based on the primary endpoint of hemoglobin change. He keeps an Overweight rating on the stock, which is down $2.95, or 7.6%, to $35.75 in morning trading.
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