Maxim Group analyst Jason McCarthy maintained a Hold rating on Bluebird Bio (BLUE) today. The company’s shares opened today at $155.27.
McCarthy wrote:
“Bluebird announced a positive opinion from CHMP recommending conditional marketing authorization for Zytenglo gene therapy for non-β 0 /β 0 transfusion- dependent β-thalassemia (TDT) in the EU. Zytenglo approval would usher in the first gene therapy for TDT and the first approved therapy for bluebird. Following the CHMP opinion, an EU marketing decision is expected in 2Q19. NDA filing in the U.S. is expected later this year.”
According to TipRanks.com, McCarthy is ranked 0 out of 5 stars with an average return of -8.3% and a 29.9% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, ContraVir Pharmaceuticals Inc, and Adial Pharmaceuticals Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Bluebird Bio with a $158.40 average price target, representing a 2.0% upside. In a report issued on March 22, Cantor Fitzgerald also maintained a Hold rating on the stock with a $122 price target.
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Based on Bluebird Bio’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $149 million. In comparison, last year the company had a GAAP net loss of $117 million.
Based on the recent corporate insider activity of 75 insiders, corporate insider sentiment is negative on the stock.
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bluebird bio, Inc. is a clinical-stage biotechnology company, which engages in the development of potential gene therapies for severe genetic diseases and cancer. Its integrated product platform includes gene therapy, cancer immunotherapy, and gene editing. Its product pipeline includes Lenti-D, LentiGlobin, BCL11a shRNA, bb2121, and bb21217.
