UPDATE: JPMorgan Downgrades bluebird bio (BLUE) to Neutral
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JPMorgan analyst Cory Kasimov downgraded bluebird bio (NASDAQ: BLUE) from Overweight to Neutral with a price target of $39.00 (from $76.00).
The analyst comments "In our view, there’s still a reasonably good chance that BLUE secures approval for its first three products under development for four indications (LentiGlobin in TDT and SCD, bb2121 in MM, and Lenti-D in CCALD). LentiGlobin's fate, however, is now highly tied to the investigation of recent cases of AML and MDS in previously treated patients. The company also has multiple novel platform capabilities –
gene therapy, gene editing, and CAR-T among them – that could help to restock the pipeline over time."
Shares of bluebird bio closed at $28.44 yesterday.
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