Global Blood could draw bid before SCD drug action - SunTrust

|About: Global Blood Therapeutics,... (GBT)|By:, SA News Editor

Global Blood Therapeutics (NASDAQ:GBT) is up another 3.4% after hours, adding on to today's 10.9% gain fueled by FDA acceptance of a marketing application to apply voxelotor to sickle cell disease.

Earlier today, Wedbush raised its price target to $120 from $103 -- now implying 128% upside from closing price of $52.66.

And SunTrust now adds that it wouldn't be surprised to see Global Blood draw a takeover bid before any FDA action in February.

The agency's not holding an advisory panel on the drug, analyst Joon Lee says, and management has said it's been in "regular touch points" with big drugmakers.

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