bluebird bio (BLUE) LentiGlobin is Here To Stay, Roth Capital Says; PT Cut to $165
Roth Capital analyst Debjit Chattopadhyay reiterated a Buy rating but lowered its price target on bluebird bio (NASDAQ: BLUE) to $165.00 (from $192.00) following ASH abstracts. The analyst said LentiGlobin is here to stay.
Chattopadhyay commented, "The kinetics of response in patients with no innate ability to synthesize hemoglobin has set off speculations on the limits of lentiglobin-based gene therapy. Questions on the regulatory path, reimbursement (value of reduced transfusion frequency), and patient eligibility, have clouded near-term outlook. Overlooked in the noise is the 100% success rate in all other genotypes (>66% of the market), positive read in SCD, safety, and that the ß0/ß0 patients might be transfusion independent over the next 12-months."
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Shares of bluebird bio closed at $90.15 yesterday.