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Maxim Group Sticks to Their Hold Rating for Bluebird Bio (BLUE)


Maxim Group analyst Jason McCarthy maintained a Hold rating on Bluebird Bio (BLUE) today. The company’s shares closed on Friday at $122.89, close to its 52-week low of $102.21.

McCarthy commented:

“Over the weekend at the ongoing ASH (American Society of Hematology) meeting, bluebird presented data for both LentiGlobin in β-Thalassemia and sickle cell, as well as initial data for bb21217 anti-BCMA CAR-T in multiple myeloma. ○ Sickle Cell, setting stage for tonight (conference call at 11:30pm ET): HGB-206 P1/2 study update; Group A and B data presented, focus was on Group B, which combined ‘first-gen’ and ‘refined process’ LentiGlobin. While the data was mostly positive thus far, with high expectations for group C (only treated with the ‘refined’ LentiGlobin), one serious adverse event (SAE) was reported from Group A; a case of myelodysplasic syndrome that isn’t believed to be therapy related but could be due to the conditioning needed for therapy. ○ β-Thalassemia looking to tonight too.”

According to TipRanks.com, McCarthy is a 2-star analyst with an average return of 0.3% and a 37.7% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, ContraVir Pharmaceuticals Inc, and Sonoma Pharmaceuticals Inc.

Bluebird Bio has an analyst consensus of Moderate Buy, with a price target consensus of $191.71, which is a 56.0% upside from current levels. In a report issued on November 27, Oppenheimer also assigned a Hold rating to the stock.

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Based on Bluebird Bio’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $145 million. In comparison, last year the company had a GAAP net loss of $78.81 million.

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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.