bluebird bio (BLUE) ASH Abstract Data Fairly Consistent With Previously Published Data - Leerink
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Leerink Partners analyst Michael Schmidt reiterated an Outperform rating and $80 price target on bluebird bio (NASDAQ: BLUE) saying the ASH abstract data was fairly consistent with previously published data.
Schmidt commented, " This morning, abstracts for the upcoming American Society of Hematology (ASH) Annual Meeting were published, including 3 abstracts on BLUE's LentiGlobin gene therapy, which is in development for treatment of patients with transfusion-dependent beta-thalassemia (TDT) and severe sickle cell disease (SCD). Overall, the data looks relatively consistent to previously published results, last updated at the ASH 2015 conference. Patients with TDT and the nonβ0/β0 genotype who previously achieved transfusion-independence stayed transfusionfree with longer term follow-up, whereas 8 TDT patients with the β0/β0 genotype did not (but still benefiting by requiring less transfusions). Key remaining question is whether more recently treated non-β0/β0 patients with less follow-up also achieved transfusion independence, with full results expected at ASH. Patients with SCD did not seem to improve further with longer term follow-up, indicating the need to improve the therapy as highlighted at BLUE's recent R&D day. Maintaining OP rating "
Shares of bluebird bio closed at $46.40 yesterday.
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