Bluebird (BLUE) On-track Development in 1Q16, PT Cut to $80 - Jefferies

Jefferies analyst, Gena Wang, noted that luebird bio (NASDAQ: BLUE) highlighted clinical progress including recent interim Lenti-D Ph2/3 data in CALD at AAN. While ongoing data presentations at ASGCT mainly focus on preclinical progress, she expects to see a meaningful clinical update for LentiGlobin in both BT and SCD at ASH (Dec ’16). PT cut to $80 (from $84) to reflect higher OpEx. No change to Buy rating.

Key upcoming catalysts:

1) Ongoing data presentation at ASGGCT (May 4-7)

2) Update on LentiGlobin process improvements in 2H16

3) LentiGlobin HGB-207 study in adult/ adolescent non-β0/β0 BT patients initiation in 2H16

4) LentiGlobin BT and SCD data update at ASH (Dec 3-6 ’16)

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

Shares of bluebird bio closed at $40.73 yesterday.

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