Jefferies Reiterates a Buy Rating on Bluebird Bio

By Carrie Williams

In a report released yesterday, Gena Wang from Jefferies reiterated a Buy rating on Bluebird Bio (NASDAQ: BLUE), with a price target of $80. The company’s shares closed yesterday at $41.30, close to its 52-week low of $35.37.

Wang observed:

“Since BLUE disclosed in vitro data of improved process at R&D day, we did not expect ASH update to be eventful. The 3 data sets based on the old manufacturing process and sub-optimal conditioning regimen showed in-line expectation for hemoglobin expression and clinical benefits, in our view.”

According to, Wang is ranked 0 out of 5 stars with an average return of -43.5% and a 5.9% success rate. Wang covers the Healthcare sector, focusing on stocks such as Dimension Therapeutics Inc, Cascadian Therapeutics, and Atara Biotherapeutics.

Currently, the analyst consensus on Bluebird Bio is Strong Buy and the average price target is $111.67, representing a 170.4% upside.

In a report issued on October 25, Piper Jaffray also maintained a Buy rating on the stock with a $95 price target.

The company has a one year high of $95.28 and a one year low of $35.37. Currently, Bluebird Bio has an average volume of 1.31M.

Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of BLUE in relation to earlier this year. Most recently, in June 2016, Nick Leschly, the President & CEO of BLUE bought 19,826 shares for a total of $76,173.

bluebird bio, Inc. is a clinical-stage biotechnology company. The company develops next generation products based on the transformative potential of gene therapy to treat patients with severe genetic and orphan diseases. It has two clinical-stage programs in development for childhood cerebral adrenoleukodystrophy and beta-thalassemia/sickle cell disease and a preclinical oncology program in the chimeric antigen receptor T cells field. bluebird bio was founded by Philippe Leboulch and Ronald C. Dorazio on April 16, 1992 and is headquartered in Cambridge, MA.