bluebird bio (BLUE) PT Raised 10% at Jefferies Following 'Impressive' Initial BCMA CAR-T Ph1 Data

December 1, 2016 7:47 AM EST
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Price: $66.75 --0%

Rating Summary:
    15 Buy, 3 Hold, 1 Sell

Rating Trend: Down Down

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    Up: 0 | Down: 0 | New: 0
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Jefferies analyst Gena Wang reiterated a Buy rating and lifted her price target on bluebird bio (NASDAQ: BLUE) to $88.00 (from $80.00) following 'impressive' initial BCMA CAR-T Ph1 data at ENA.

Wang commented, "BLUE/CELG’s anti-BCMA CAR T cells (bb2121) showed promising initial efficacy in R/R multiple myeloma pts with 100% ORR in two high dose cohorts (n=6) and a much better safety profile (no DLT or ≥ Gr3 CRS/neurotox in all 11 dosed pts) vs. other BCMA CART programs. Although small pts # and duration of activity and long-term safety remain to be seen, initial data appear impressive and we raise PT to $88 to include bb2121 in our valuation."

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 $60.35 yesterday.

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