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BLUE

Bluebird Bio

$117.49

-6.41 (-5.17%)

13:48
06/14/19
06/14
13:48
06/14/19
13:48

Bluebird Bio launch of Zynteglo delayed in EU, says Cowen

Cowen analyst Yaron Werber said Bluebird Bio reported data at the EHA meeting that was "highly encouraging" for Zynteglo and announced EU pricing that was higher than he expected. However, the comapny also unexpectedly said the EMA has requested amendments that will delay the launch of the drug in the EU out to early 2020, according to Werber. Additionally, the manufacturing process changes requested add some new risk, said the analyst. In afternoon trading, Bluebird Bio shares have slid to their worst levels of the session, down $7.06, or 5.7%, to $116.88.

  • 14

    Jun

BLUE Bluebird Bio
$117.49

-6.41 (-5.17%)

05/15/19
05/15/19
DOWNGRADE
Target $131

Neutral
Bluebird Bio downgraded to Neutral at Wedbush on ZYNTEGLO launch risks
As previously reported, Wedbush analyst David Nierengarten downgraded Bluebird Bio to Neutral from Outperform after attending the company's Analyst Day, as he sees risks to the ZYNTEGLO launch that could overshadow its broad pipeline. Specifically, the analyst now expects installment, performance-based pricing of $320,000/year, in-line with annual treatment costs, for 5 years, or $1.6M total, with a 15% discount on the total potential price as some patients will not fully respond/meet the performance requirements. With installment pricing, Nierengarten incorporates additional financing in his model as it creates an "air gap" for cash flow that the company will have to fill before it becomes cash flow positive. The analyst also lowered his price target on the shares to $131 fr0m $166.
05/16/19
RHCO
05/16/19
NO CHANGE
Target $174
RHCO
Buy
Bluebird Bio price target lowered to $174 from $184 at SunTrust
SunTrust analyst Edward Nash lowered his price target on Bluebird Bio to $174 to reflect the changes in his model after the company's Analyst Day presentation. The analyst is pushing back his expected Lenti-D start year to 2020 from 2019 and also raising his assumed R&D and SG&A expenses while also removing the revenue projections for the company's B-thalassemia patients aged below 12 in the U.S. and E.U. Nash is also keeping his Buy rating on Bluebird Bio, saying he sees the company as "best positioned" in transforming gene therapy from a "scientific endeavor" to a "successful proposition."
05/17/19
JPMS
05/17/19
NO CHANGE
Target $195
JPMS
Overweight
Bluebird Bio 20% pullback since early April brings opportunity, says JPMorgan
JPMorgan analyst Cory Kasimov thinks investors should use times of share weakness to buy or add to longer-term positions in Bluebird Bio. With the stock off nearly 20% since early April, "this could be one of those times," Kasimov tells investors in a research note. He believes Bluebird has a relatively high likelihood of going four-for-four with its initial late-stage shots on goal. The analyst maintains an Overweight rating on the shares with a $195 price target.
06/14/19
PIPR
06/14/19
NO CHANGE
Target $120
PIPR
Neutral
Price tag of Bluebird's Zynteglo 'hard to justify,' says Piper Jaffray
The $1.8M price tag of Bluebird Bio's Zynteglo is "hard to justify" given the $2.1M comp of Novartis' (NVS) Zolgensma, which treats children with a certain outcome of death, as opposed to a population where the majority of patients are adequately maintained on transfusions, Piper Jaffray analyst Tyler Van Buren tells investors in a research note. In Zynteglo clinical trials, only 60 beta-thal patients have been enrolled and 16 sickle cell patients have ever been infused, the analyst points out. Yet, says Van Buren, the Street is modeling that Bluebird transplants thousands of patients with Zynteglo. He continues to believe uptake of the gene therapy will be challenging and keeps a Neutral rating on Bluebird Bio with a $120 price target.

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$4.76

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