Bluebird Bio (BLUE) Gets a Hold Rating from Oppenheimer

In a report released today, Mark Breidenbach from Oppenheimer maintained a Hold rating on Bluebird Bio (BLUEResearch Report). The company’s shares closed yesterday at $116.89.

Breidenbach observed:

“Wednesday, we sat down with management to discuss 2019 goals, emphasizing launch plans for LentiGlobin in transfusion-dependent thalassemia (TDT). The launch will initially focus on just four European countries spearheaded by Germany. Management floated a cost/benefit analysis to justify potential seven-figure pricing. Heeding an important lesson from the commercial failure of Glybera, bluebird proposes to distribute the cost over five annual installments. While this plan adds risk to realizing full reimbursement, we see it as a viable option for improving palatability to payers. As bluebird transitions into a commercial-stage entity, we see the company’s BCMA CAR-T franchise as its most important value driver that could help CELG/ BMY maintain growth in myeloma. We expect to see top-line results from the pivotal KarMMa trial in 4Q. Reiterate Perform.”

According to TipRanks.com, Breidenbach ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -4.3% and a 31.1% success rate. Breidenbach covers the Healthcare sector, focusing on stocks such as Iovance Biotherapeutics Inc, Alpine Immune Sciences Inc, and Global Blood Therapeutics.

Bluebird Bio has an analyst consensus of Moderate Buy, with a price target consensus of $147.86.

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Based on Bluebird Bio’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $145 million. In comparison, last year the company had a GAAP net loss of $117 million.

Based on the recent corporate insider activity of 67 insiders, corporate insider sentiment is negative on the stock.

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bluebird bio, Inc. is a clinical-stage biotechnology company. Its integrated product platform includes gene therapy, cancer immunotherapy, and gene editing. It offers the LentiGlobin which is a treatment for transfusion-dependent ß-thalassemia; and Lenti-D as a treatment for cerebral adrenoleukodystrophy.

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