Bluebird Bio (BLUE) PT Lifted to $119 at Piper Jaffray

Piper Jaffray analyst Joshua Schimmer raised his price target on Overweight-rated Bluebird Bio (NASDAQ: BLUE) to $119.00 (from $112.00) following Q4 earnings.

Schimmer commented, "BLUE released 4Q14 earnings Wednesday evening disclosing a cash/cash equivalent balance of $492.0M. The company continues to advance its pipeline with the HGB-205 and HGB-206 studies now underway. We expect to see preliminary sickle cell data sometime in 2015, following first dosing of a sickle cell patient in October. For the beta thalassemia indication, in January 2015 BLUE announced that it had received Breakthrough Designation from the FDA based on ongoing data from the Northstar and HGB-205 studies. We Reiterate our OW rating, PT increases from $112 to $119."

The firm adjusted FY 2014 EPS from ($2.04) to ($1.83) and FY 2015 EPS from ($1.69) to ($1.64.)

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 $96.30 yesterday.

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