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Bluebird Bio's Competitive Advantage Is Underappreciated, Raymond James Says In Bullish Initiation

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Bluebird Bio's Competitive Advantage Is Underappreciated, Raymond James Says In Bullish Initiation

Bluebird bio, Inc, (NASDAQ: BLUE) has built a gene therapy platform with which the company genetically alters patient cells under laboratory conditions and then infusing the altered cells back into the patient in the form of a therapeutic product, according to Raymond James.

The Analyst

Raymond James’ Dane Leone initiated coverage of bluebird bio with a Strong Buy rating and $165 price target.

The Thesis

The company has successfully delivered positive late-stage clinical data in four different clinical indications using three separate therapeutic products, Leone said in a Wednesday note. (See his track record here.)

Sell-side estimates for bluebird bio are too aggressive, the analyst said. “

The annual return profile of BLUE makes it one of the most profound S-curve stocks within the biotech universe, with massive hope trades in one year ceding to drastic sell-offs in the next, all within the timeframe of a stable pipeline of clinical programs."

Bluebird's competitive advantage in diseases with high competitive barriers — such as beta-thalassemia, sickle cell disease and BCMA — are underappreciated, Leone said. 

The biotech is expected to expand its clinical pipeline over the next 12 months, and the processes put in place for its first three products are helping to drive its developmental success rates going forward, according to Raymond James. 

Price Action

Bluebird shares were down 2.2 percent at $98.91 at the time of publication Thursday. 

Related Links:

Janney Upgrades bluebird bio Ahead Of Sickle Cell Presentation

10 Biggest Price Target Changes For Thursday

Latest Ratings for BLUE

DateFirmActionFromTo
Oct 2019MaintainsEqual-Weight
Oct 2019Initiates Coverage OnHold
Aug 2019DowngradesOutperformMarket Perform

View More Analyst Ratings for BLUE
View the Latest Analyst Ratings

Posted-In: Dane Leone Raymond JamesAnalyst Color Biotech Price Target Initiation Analyst Ratings General Best of Benzinga

 

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StockFirmActionPT
ELMDDougherty & Co.Initiates Coverage On12.0
MRNSCantor FitzgeraldAssumes7.0
MNRLCapital One FinancialInitiates Coverage On23.0
SONVertical GroupUpgrades
UNPMorgan StanleyMaintains136.0
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