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Updates from: Bret Jensen Blog / HC Wainwright / Fly.Com / OppenheimerBret Jensen’s Blog / SA 10/19/18 https://seekingalpha.com/instablog/498952-bret-jensen/5225899-4-notable-early-morning-calls Global Blood Therapeutics (GBT) receives a few analyst 'shout outs' today. Oppenheimer maintains its Outperform rating and $74 price target with the following commentary. We attended a joint FDA-ASH workshop on clinical endpoints for sickle cell disease (NYSE:SCD) on October 17-18. By convening this workshop, we believe the FDA and ASH expressly acknowledge the inadequacies of traditional endpoints such as vaso-occlusive crises (VOC), which do not fully capture the wide spectrum of symptoms experienced by patients. Expert panels on biomarker-based endpoints and end-organ considerations were particularly relevant for GBT, which is pursuing accelerated approval of voxelotor based on hematological endpoints. In our view, the workshop was generally supportive of endpoint flexibility and could spur the FDA to consider accelerated approval of voxelotor based on reduction of hemolytic anemia. Guidance from the panelists could inform the design of future trials, including potential confirmatory trials for voxelotor. Reiterate Outperform, $74 PT.” > H.C. Wainwright also reiterates its Buy rating and $125 price target on GBT this morning. [the following from HC Wainwright] "ground over the stock. The bulls are likely to point to the compelling benefit in hemoglobin, TCD, hemolysis, while the bears are likely to steer the discussions away from surrogate endpoints to hard clinical endpoints. From our perch, as long as the safety profile of voxelotor holds up to scrutiny, we remain in the accelerated approval camp. Given the lack of meaningful treatment options with only two approvals, including HU, coupled with the supportive data suggesting the ability to minimize end organ damage by preventing hemolytic anemia, we would recommend to the bears from not overstaying their welcome in the stock. Up next, investors are likely to fixate on the ASH abstract on Nov 1, 2018, which could shed light on the magnitude of the numerical benefit in VOC events among patients treated with voxelotor over the first three months. We reiterate a Buy and $125 target on shares of Global Blood." [ from fly.com: https://thefly.com/landingPageNews.php?id=2806743 ] Global Blood Therapeutics analyst commentary at Piper Jaffray Piper Jaffray says FDA workshop 'net positive' for Global Blood Therapeutics. Piper Jaffray analyst Danielle Brill viewed the discussion at the FDA-ASH SCD clinical endpoints workshop as a "net positive" for Global Blood Therapeutics, saying it "provided hints of support" for the accelerated approval of voxelotor. Brill maintained an Overweight rating and $80 price target on Global Blood Therapeutics shares. (10/18/18) [ also Oppenheimer ] Oppenheimer Reiterates Bullish View on Global Blood Therapeutics (GBT) Following FDA Workshop on SCD Endpoints October 19, 2018 8:09 AM EDT Oppenheimer analyst Mark Breidenbach reiterated an Outperform rating and $74 price target on Global Blood Therapeutics (NASDAQ: GBT) after the ... https://www.streetinsider.com/Analyst+Comments/Oppenheimer+Reiterates+Bullish+View+on+Global+Blood+Therapeu tics+(GBT)+Following+FDA+Workshop+on+SCD+Endpoints/14722613.html |
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