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Actionable news in GBT: Global Blood Therapeutics Inc,

Cowen Boosts Price Target on Global Blood Therapeutics (GBT) Amid GBT-440 Phase III HOPE Trial FDA-Accepted Design

Today, Global Blood Therapeutics Inc (NASDAQ:GBT) announced design of the pivotal two-part GBT-440 Phase III HOPE trial in evaluating adults and adolescents with Sickle Cell Disease (SCD), which was sanctioned by the FDA after “extensive discussions.”

On back of the clinical update, Cowen analyst Ritu Baral believes the HOPE trial’s primary endpoint “looks achievable” and therefore reiterates an Outperform rating on shares of GBT while lifting the price target from $80 to $83, which represents a nearly 309% increase from where the shares last closed.

Baral explains, “The primary endpoint of Pt A (PBO, 900mg, 1500mg arms) is proportion of patients...