Piper Jaffray analyst Joshua Schimmer lowered his price target for bluebird bio to $125 from $204 but keeps an Overweight rating on the name. The company's 2015 proved challenging, as enthusiasm for LentiGlobin in sickle cell disease and beta-thalassemia faded, Schimmer tells investors in a research note. He says his new price target appreciates the "competitive dynamics and challenges ahead" for the company. Schimmer points out the new target still represents meaningful upside from current levels. Shares of bluebird closed yesterday down 75c to $63.47.