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BLUE

Bluebird Bio

$79.51

-1.24 (-1.54%)

08:10
12/09/19
12/09
08:10
12/09/19
08:10

Bluebird Bio price target lowered to $160 from $242 at Wells Fargo

Wells Fargo analyst Jim Birchenough lowered his price target for bluebird bio (BLUE) to $160 from $242 and maintained an Overweight rating following a review of positive KarMMa data for BCMA CAR-T therapeutic ide-cel as well as data from multiple BCMA competitors at this weekend's ASH meeting. With partner Bristol Myers (BMY) having both ide-cel as well as a promising earlier stage bispecific antibody T-cell engager, the analyst tells investors in a reserach note that he is are encouraged by Bristol Myers' comments at its ASH investor meeting suggesting enthusiasm for ide-cel, ongoing efforts to move it earlier in treatment, a perceived role for both modalities to coexist, and potential for sequential use of multiple BCMA targeting modalities. He said that while multiple BCMA competitors may impact ultimate probability- adjusted peak sales of ide-cel, he continues to see a large $1B+ opportunity for the therapy.

  • 09

    Dec

BLUE Bluebird Bio
$79.51

-1.24 (-1.54%)

11/26/19
11/26/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Chipotle (CMG) upgraded to Outperform from Market Perform at Cowen with analyst Andrew Charles saying he sees upside to expectations for the company's comps and earnings from the growth of its digital sales, growing consumer trend calling for food transparency, higher advertising budget, and the success of its loyalty program. 2. Line Corp. (LN) upgraded to Hold from Underperform at Jefferies. 3. Dynex Capital (DX) upgraded to Outperform from Market Perform at Keefe Bruyette with analyst Eric Hagen saying with both nominal and option-adjusted agency mortgage-backed security spreads wide, it is "hard to overlook" Dynex's attractive valuation. 4. MAA (MAA) upgraded to Sector Perform from Underperform at Scotiabank. 5. Bluebird Bio (BLUE) upgraded to Outperform from Market Perform at SVB Leerink with analyst Mani Foroohar noting the stock has fallen 51% since early March. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
12/03/19
MSCO
12/03/19
NO CHANGE
Target $100
MSCO
Equal Weight
Morgan Stanley sees high odds of Bluebird trading up after multiple myeloma data
Morgan Stanley analyst Matthew Harrison said he sees a high probability, or 75% odds, that Bluebird Bio (BLUE) shares will trade higher following the report of topline results from its KarMMa study of bb2121 as a fourth line or later therapy for the treatment of relapsed/refractory multiple myeloma, which are due by year-end. He said investors are focused on the median progression free survival delivered by the therapy as a gauge of its commercial viability versus other anti-BCMA CAR-T therapies in development at GlaxoSmithKline (GSK) and Bristol-Myers (BMY) in partnership with Regeneron (REGN). In a scenario where median PFS is greater than or equal to 11.5 months and overall response rate is greater than or equal to 85%, Harrison sees Bluebird shares having 20%-30% or more upside. If the median PFS is equal to or less than 9 months and ORR is below 80%, he thinks bb2121 would likely still be approvable, but sees shares down 10%-20%. In what he views as the most likely scenario - with mPFS of about 10 months and ORR of about 80% - Harrison sees 10%-20% upside in Bluebird shares. He keeps an Equal Weight rating and $100 price target on the stock.
12/08/19
PIPR
12/08/19
NO CHANGE
PIPR
Piper says Bluebird's bb2121 'clearly approvable,' but competition heating up
Piper Jaffray analyst Tyler Van Buren said the topline results presented by Bluebird Bio (BLUE) at ASH from the KarMMa trial are "impressive in these very sick patients" and he believes that the drug is "clearly approvable." However, he also said that the JNJ-4528 Legend data presented by Johnson & Johnson's (JNJ) Janssen "appears very competitive," adding that "we would be remiss if we didn't mention the continued deluge of anti-BCMA antibody data" from competitors including Amgen (AMGN), Bristol-Myers (BMY) and Regeneron (REGN). Van Buren keeps a Neutral rating on Bluebird Bio shares, citing valuation as well as his view on long-term competitive pressures.
12/09/19
ADAM
12/09/19
NO CHANGE
Target $118
ADAM
Buy
Bluebird Bio price target lowered to $118 from $171 at Canaccord
Canaccord analyst John Newman lowered his price target on Bluebird Bio to $118 from $171 to reflect competition on its best-in-class status bb2121. The ASH conference saw competitors present strong data and along with the unclear reimbursement environment for CAR-T products, the unsure timing for bb2121, and model adjustments, he lowered his target. Newman reiterated his Buy rating on Bluebird Bio shares.

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