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Fly News Breaks for November 28, 2018
CELG, BLUE
Nov 28, 2018 | 08:44 EDT
Goldman Sachs analyst Salveen Richter notes that at the American Society of Hematology meeting, Bluebird Bio (BLUE) will present data across its pipeline, with the key focus on Bluebird Bio/Celgene's (CELG) lead value driver CAR-T bb2121 in r/r MM which he expects will maintain its first-mover advantage and potentially best-in-class status in the context of BCMA competitors. Additionally, Richter notes that Bluebird Bio's recent pull back has created an attractive entry point to buy ahead of ASH and into a compelling de-risked genomic medicine company positioned to capitalize on its multi-modality approach to drug discovery to support the next leg of the story as he looks to the unveiling of new programs in 2019-plus and three likely drug approvals in 2019/2020 with additional launches post. He reiterates a Buy rating and $284 price target on Bluebird Bio shares.