Roth Capital Pounds the Table on bluebird bio Inc (BLUE)
Roth Capital analyst Debjit Chattopadhyay was out pounding the table on bluebird bio Inc (NASDAQ:BLUE) Monday, reiterating a Buy rating and price target of $192, which represents a potential upside of 17% from where the stock is currently trading.
Chattopadhyay wrote, “With an estimated $900+M war chest, unambiguous data, a defined path to market, and an evolving immunotherapy program, bluebird remains wellpositioned, in our view. Given the robust appreciation in its shares (up 365% over the past year) and lack of near-term catalysts (post EHA), we are not surprised by the recent weakness (shares down 18% since May 29th 2015). We expect shares to be back in favor during 4Q heading into the ASH meeting and recommend accumulating on dips.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Debjit Chattopadhyay has a total average return of 29.9% and a 64.5% success rate. Chattopadhyay has a 95.1% average return when recommending BLUE, and is ranked #21 out of 3694 analysts.
All the 8 analysts polled by TipRanks rate bluebird bio stock a Buy. With a return potential of 24.3%, the stock’s consensus target price stands at $203.67.