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Fly News Breaks for June 10, 2016
GBT, BLUE
Jun 10, 2016 | 10:03 EDT
Following new 90-day results from Global Blood Therapeutics (GBT) for its GBT440 drug in sickle cell disease patients, Janney Capital analyst Debjit Chattopadhyay said "the onus is now on" bluebird bio (BLUE) to rapidly advance process improvements in the clinic, adding that the "implications of the ASH16 data for the Lentiglobin platform cannot be understated." Based on revised market share assumptions, Chattopadhyay lowered his fair value estimate on bluebird to $71 from $91 but maintains a Buy rating on the stock.
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