Analyst Sees More News On Bluebird Bio Inc. Coming Thursday

Bluebird Bio Inc.

will see additional "positive news" early Thursday, when abstracts of studies related to its LentiGlobin treatment will be published by the European Hematology Association, an analyst said. Meanwhile, recent talks with U.S. and European regulators disclosed Tuesday have cleared a favorable path for the blood disorder treatment, according to Wedbush's David M. Nierengarten. Bluebird gained 9 percent Tuesday to $170.53. The shares are up 86 percent in the year to date. Nierengarten raised his price target on Bluebird by 52 percent to $222, reiterating a Buy rating. U.S. regulators agreed on two clinical trials that, together with current studies, could lead to approval for LentiGlobin as a treatment for beta-thalassemia major, a rare and potentially fatal drug disorder, the company said Tuesday. Separately, European regulators may allow conditional approval of the drug on the basis of results from current studies, the company said. Nierengarten called the two U.S. studies "low risk" and said favorable regulatory feedback "reflects the many benefits of LentiGlobin therapy." Only about 15,000 patients suffer from Beta-thalassemia in the U.S., but LentiGlobin is also under separate study as a treatment for sickle cell disease, which affects up to about 100,000 Americans. The drug treatment entails inserting a functional human blood-related gene into the patient's own stem cells and then transplanting those modified cells into the patient through the bloodstream.