bluebird bio (BLUE) PT Raised to $83 at BMO as bb2121 Shows Promising Efficacy, Clean Safety
Get Alerts BLUE Hot Sheet
Rating Summary:
13 Buy, 16 Hold, 3 Sell
Rating Trend: Down
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Join SI Premium – FREE
BMO Capital analyst Matthew Luchini raised his price target on bluebird bio (NASDAQ: BLUE) to $83.00 (from $61.00) as bb2121 shows promising efficacy and clean saftey. The firm maintained a Market Perform rating.
Luchini commented, "We expect BLUE to open higher following release of impressive bb2121 Phase I data in a heavily pre-treated myeloma population, which showed an overall response rate of 78% including two stringent complete responses as well as a clean safety profile. Given strength of the data, we are adding bb2121 to our model, estimating peak sales of ~$3.6B (risk-adjusted 25% to $900mm) and increase our price target to $83. However, we maintain our Market Perform rating as we see only modest additional upside given the ~25% share price move after market."
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- 4D Molecular Therapeutics (FDMT) PT Lowered to $63 at BMO Capital, 'uncertainty remains a lingering overhang until the PhIII readout'
- Hennes & Mauritz AB (HMB:SS) (HNNMY) PT Raised to SEK190 at RBC Capital, 'showing some promising signs '
- Cintas (CTAS) PT Raised to $790 at UBS
Create E-mail Alert Related Categories
Analyst Comments, Analyst PT Change, FDARelated Entities
BMO CapitalSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!