Maxim analyst Jason McCarthy weighed in with a few insights on bluebird bio Inc (NASDAQ:BLUE), after the gene-therapy-product maker announced that a pivotal phase III study of LentiGlobin gene therapy for the treatment of transfusion-dependent beta-thalassemia is now open for enrollment.

bluebird shares are currently trading at $55.79, down $1.72 or -2.99%.

McCarthy noted, “We are excited to see LentiGlobin move into a pivotal study in transfusion-dependent beta-thalassemia. Recall in the “NorthStar” study (HGB-204), patients with the non-β0 /β0 remained 100% transfusionindependent following LentiGlobin gene therapy. In addition, we are expecting more data in sickle cell from multiple patients treated with LentiGlobin this December at the ASH (American Society of Hematology) conference, stay tuned.”

McCarthy reiterated a Buy rating on shares of Bluebird Bio, with a price target of $85, which represents a potential upside of 52% from where the stock is currently trading.

As usual, we like to include the analyst’s trackrecord when reporting on new analyst notes to give a perspective on the effect it has on stock performance. According to, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Jason McCarthy has a yearly average return of 1.1% and a 37% success rate. McCarthy has an -25.7% average return when recommending BLUE, and is ranked #1864 out of 4147 analysts.

Out of the 8 analysts polled by TipRanks (in the past 3 months), 7 rate Bluebird bio stock a Buy, while 1 rates the stock a Hold. With a return potential of 68%, the stock’s consensus target price stands at $96.75.