Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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BTIG's Dane Leone downgrades Bluebird's stock rating from Buy to Neutral as many of the bullish catalysts are now fully factored into the stock. For instance, the stock's valuation has "generally captured" data updates from ASCO and EHA.
Positive On Outlook But Not Enough To Remain Bullish
Meanwhile, Bluebird has a "good lead" over the competition in drugs targeting anti-BCMA and a Phase 1 study of bb21217 will commence in the bottom half of 2017. But at the same time competitive efforts from rivals will also ramp up, including Kite Pharma Inc (NASDAQ:KITE), which will begin a study of a fully-human anti-BCMA CAR T therapy in the third quarter.
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The analyst remains "more optimistic than most" regarding the LentiGlobin program for Beta-thalassemia and Sickle-cell disease. Also, the company's broadening of its oncology efforts may be a source of concern among some investors but early success in bb2121 is indeed supportive of a "broader effort in larger markets with better defined patient populations."
Bottom line, Bluebird will issue new updates from key programs in the coming months, but the stock's valuation implies many of the positive events are reflected in the stock at current levels.
Related Links:5 Stocks To Watch For June 30, 2017A Peek Into The Markets: U.S. Stock Futures Signal Higher Start On Wall Street _________Image Credit: By Paulo Henrique Orlandi Mourao - Own work, CC BY-SA 4.0, via Wikimedia CommonsCrypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.