Wedbush analyst David Nierengarten upgraded Bluebird Bio to Outperform from Neutral with a price target of $124, down from $131, saying he thinks shares are reflecting significant negativity regarding the Zynteglo launch at current levels. While the analyst says he "shares the concerns," he feels negative Zynteglo sentiment is "more than accounted for" in the current valuation. Nierengarten recommends getting off the sidelines for both valuation and near-term data catalysts.
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