Piper Jaffray Reiterates Upbeat View of bluebird bio Inc; Sees 34% Upside for the Stock

In a research report issued today, Piper Jaffray analyst Joshua Schimmer offered some positive commentary on bluebird bio Inc (NASDAQ:BLUE). The analyst reiterated an Overweight rating on bluebird stock with a price target of $213, which implies an upside of 34% from current levels.

Schimmer observed, “As we pass the midway point of 2015, we’re refreshing our thinking on our coverage universe. For BLUE, LentiGlobin is rapidly emerging as one of the most exciting new therapeutic candidates in the Orphan Disease field, having shown remarkable effects in patients with beta-thalassemia major and more recently seemingly curing a patient with sickle cell disease. The company now has clarity on a path forward for EU and US registration of LentiGlobin for beta-thal, the latter requiring two small additional studies.”

Furthermore, “The Lenti-D program for CCALD has completed enrollment with data expected in 2016. BLUE is now pivoting to become a more fully integrated company, already preparing for commercialization and expanding its pipeline into CAR-T therapeutics and other Orphan diseases leveraging its gene therapy and gene editing capabilities. BLUE remains a top mid-cap pick as we expect additional LentiGlobin updates for sickle cell disease to continue driving shares higher.”

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 59.9% success rate. Schimmer has a 11.6% average return when recommending BLUE, and is ranked #254 out of 3717 analysts.

All the 8 analysts polled by TipRanks rate bluebird bio Inc stock a Buy. With a return potential of 28%, the stock’s consensus target price stands at $203.67.


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