Fly News Breaks for February 20, 2020
Feb 20, 2020 | 07:30 EDT
Oppenheimer analyst Mark Breidenbach lowered his price target for Bluebird Bio to $128 form $135 after the company announced Q4 results and updated guidance on key programs. Per management, delayed U.S. development timelines in beta-thalassemia are partially attributable to an FDA request for additional information on product release criteria, which could potentially delay a U.S. launch by about 6 months versus his prior estimates, the analyst notes. With regard to the EU launch of Zynteglo, Breidenbach points out that no patients have been treated commercially yet, and he anticipates 2020 Zynteglo sales will be limited to a handful of patients in Germany. The analyst reiterates an Outperform rating on the shares.
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