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Fly News Breaks for August 31, 2017
BLUE
Aug 31, 2017 | 09:13 EDT
BMO Capital analyst Matthew Luchini increased his price target on bluebird (BLUE) after the FDA approved Novartis' (NVS) CAR-T treatment for the treatment of pediatric ALL. The analyst thinks that the approval lowers the risk facing all CAR-T companies. He now sees a 60% chance of approval for bluebird's CAR-T treatment, bb2121, up from 45% previously, and he raised his estimate of the price of the treatment to $300,000 from $225,000 based on the $475,000 price of Novartis' treatment. He keeps an Outperform rating on the shares.
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