bluebird bio (BLUE) PT Raised 10% at Jefferies Following 'Impressive' Initial BCMA CAR-T Ph1 Data
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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."
Shares of bluebird bio closed at $60.35 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, FDA
Related EntitiesJefferies & Co, Gena Wang
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