Wells Fargo Initiates Coverage on Global Blood Therapeutics Inc to Outperform

Wells Fargo Initiates Coverage on Global Blood Therapeutics Inc(NASDAQ:GBT). The shares have been rated Outperform. The rating by Wells Fargo was issued on Sep 30, 2016.

Global Blood Therapeutics Inc(GBT) last announced its earnings results on Aug 10, 2016 for Fiscal Year 2016 and Q2.Earnings per share were $-0.58. Analysts had estimated an EPS of $-0.59.

Several Insider Transactions has been reported to the SEC. On Mar 14, 2016, Jung Choi (officer ) purchased 25,000 shares at $20.00 per share price.Also, On Jan 8, 2016, John Schembri (officer ) purchased 1,500 shares at $21.18 per share price.On Jan 7, 2016, Mark L Perry (director) purchased 5,000 shares at $20.00 per share price, according to the Form-4 filing with the securities and exchange commission.

Global Blood Therapeutics Inc. is a biopharmaceutical company that engages in discovering developing and commercializing therapeutics to treat blood-based disorders. The Company is engaged in developing initial product candidate GBT440 oral prophylactic therapy for sickle cell disease (SCD). The Company offers randomized placebo-controlled double-blind single and multiple ascending dose Phase 1/2 clinical trial of GBT440 in healthy subjects and patients with SCD. It is also developing hemoglobin modifiers for pulmonary disorders such as acute respiratory distress syndrome in which increased oxygen delivery is needed. The Company through its GBT440 or analog also focuses on chemical and biological mechanisms of blood-based disorders to target hypoxemic pulmonary disorders and hereditary angioedema (HAE) which is in pre-clinical trials. In addition the Company develops TBD an oral kallikrein inhibitor which are in Phase 1/2 clinical trials.

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