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Fly News Breaks for December 10, 2019
Dec 10, 2019 | 05:29 EDT
Piper Jaffray analyst Danielle Brill raised her price target for Global Blood Therapeutics to $120 from $95 after speaking to a sickle cell disease key opinion leader. The stock closed Monday down $4.24 to $75.11. The analyst is "increasingly confident" in Oxbryta's launch and long-term trajectory, noting that the key opinion leader expects 10%-20% of his patients will go on drug within the first year of launch. Looking out five years from now, the leader anticipates that 40%-50% of the sickle cell disease population could be on drug, Brill tells investors in a research note. As such, she's "still pounding the table" on Global Blood shares and keeps an Overweight rating on the name.
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