BTIG Defends bluebird bio (BLUE) Amid ASH Abstracts Sell-Off

November 3, 2016 12:44 PM EDT
Get Alerts BLUE Hot Sheet
Price: $75.60 +4.78%

Rating Summary:
    15 Buy, 3 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 16 | Down: 26 | New: 28
Trade BLUE Now!
Join SI Premium – FREE

Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.

BTIG is out in defense of bluebird bio (Nasdaq: BLUE) following release of ASH abstracts earlier this morning. The firm rates bluebird at Buy with a price target of $83.

The firm commented, BLUE has experienced a significant sell-off as a result of weak responses from older Sickle-cell Disease (SCD) patients treated within the HGB-206 study. We disagree with the market reaction, as our conversation with management today reconfirmed our belief that the company has a credible opportunity within SCD via improvements to the manufacturing and dosing processes of LentiGlobin. We reiterate our Buy rating and $82 PT, and would aggressively buy on todays sell-off.

Hurdle with SCD is the Dosing and not the Therapeutic: As demonstrated with patient 1204 who is producing ~53% HbA at 18-months post-infusion and discontinued transfusions 3-months after treatment without symptomatic crises. Patient 1204 is 13yrs old, in much better condition compared to the 7 patients with poor responses from the HGB-206 cohort that ranged in age of 18 – 42yrs. Overall we feel confident that the dimension of age can be overcome with the new manufacturing processes.

For an analyst ratings summary and ratings history on bluebird bio click here. For more ratings news on bluebird bio click here.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In






Related Categories

Analyst Comments

Related Entities

BTIG

Add Your Comment