Coverage of our first Top Pick’s shares were recently initiated at H.C. Wainwright with a ‘Buy’ rating. Our second idea is profit-taking on a previous Top Pick.
Global Blood Therapeutics Inc. (GBT)
From Cotton’s Technically Correct
Global Blood Therapeutics Inc. (GBT) is a clinical-stage biopharmaceutical company, which engages in discovering, developing and commercializing novel therapeutics to treat blood-based disorders.
It also provides oral medicines for sickle cell diseases (SCD). Its drug candidate, voxelotor, an oral daily medicine, has had impressive results alleviating the pernicious symptoms of sickle cell disease, and has the potential to become the new standard of care for SCD.
The company is well funded with over $250 million in cash and equivalents. Besides being a rumored buy-out target, the company should be reporting results from part A of the Phase 3 study in the first half of 2018.
We are long the stock and gave it a Buy Rating on August 7, 2017 at a price of $29.45.
Joseph Cotton, Cotton’s Technically Speaking, www.cottonstocks.net, 727-289-4436, December 29, 2017