Jefferies Analyst Reiterates Buy on bluebird bio Inc (BLUE) Following Positive Pipeline Updates

Analyst Gena Wang of Jefferies commented on bluebird bio Inc (NASDAQ:BLUE) following management meetings on programs for pipeline gene therapies LentiGlobin, Lenti-D, and BCMA CAR-T. Management indicated that the company will use higher CVN , a new manufacturing process, in the LentiGlobin pivotal HGB-207 study, possibly improving efficacy. Management will present these findings at the next ASH (American Society of Hematology) conference on November 3rd, and hopes the data will demonstrate convincing evidence supporting the technology platform. The analyst also notes that clinical data of Lenti-D and BCMA programs should be available in 2017.

The analyst reiterates a Buy rating on the stock with an $80 price target.

According to TipRanks, Gena Wang has a 20% success rate recommending stocks with an average loss of (18.1%) per recommendation.

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