Piper Jaffray Reiterates Overweight on bluebird bio Inc Following 1Q:15 Update
In a research report published May 6, Piper Jaffray analyst Joshua Schimmer reiterated an Overweight rating on bluebird bio Inc (NASDAQ:BLUE) with a price target of $186, which implies an upside of 27% from current levels. The report follows the company’s first-quarter results, which were released yesterday morning.
Schimmer commented, “We are increasing NT R&D spend to reflect what we expect will be accelerating development timelines for the sickle program. We are also increasing our share count to reflect the last equity raise. Outer year estimates are unchanged aside from a slightly lower tax rate to reflect the fact that there will be a significant presence ex-U.S., so overall there is no impact to our DCF-derived PT.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Joshua Schimmer has a total average return of 11.7% and a 56.9% success rate. Schimmer has a 25.2% average return when recommending BLUE, and is ranked #330 out of 3594 analysts.