In a report released today, Elemer Piros from Cantor Fitzgerald reiterated a Sell rating on Bluebird Bio (NASDAQ: BLUE), with a price target of $122. The company’s shares opened today at $180.30.
Piros commented:
“We rate bluebird bio Underweight. BLUE, a clinical-stage biotechnology company, focuses on developing transformative gene therapies for rare severe genetic diseases. Its product candidates include Lenti-D, which is in a pivotal clinical study for the treatment of cerebral adrenoleukodystrophy; LentiGlobin, which is in Phase 1/2 clinical studies for the treatment of beta thalassemia major and severe sickle cell disease (SCD); and bb2121 and bb21217 CAR-T candidates in multiple myeloma. Valuation Summary We value bluebird bio based on a risk-adjusted NPV calculation of its clinical pipeline.”
According to TipRanks.com, Piros has currently no stars on a ranking scale of 0-5 stars, with an average return of -3.5% and a 48.3% success rate. Piros covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Strongbridge Biopharma Plc, and Global Blood Therapeutics.
Currently, the analyst consensus on Bluebird Bio is a Moderate Buy with an average price target of $211.75.
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The company has a one-year high of $236.17 and a one-year low of $85.65. Currently, Bluebird Bio has an average volume of 795.4K.
Based on the recent corporate insider activity of 82 insiders, corporate insider sentiment is negative on the stock.
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bluebird bio, Inc. is a clinical-stage biotechnology company. Its integrated product platform includes gene therapy, cancer immunotherapy, and gene editing. It offers the LentiGlobin which is a treatment for transfusion-dependent ß-thalassemia; and Lenti-D as a treatment for cerebral adrenoleukodystrophy.
