Barclays analyst Gena Wang maintained a Buy rating on Bluebird Bio (BLUE – Research Report) yesterday and set a price target of $40.00.
Gena Wang’s rating is based on the significant changes in Bluebird Bio’s stock structure and potential valuation. The company recently implemented a 1:20 reverse stock split to comply with Nasdaq’s listing requirements, which dramatically reduced the number of shares outstanding and is reflected in the updated financial model.
The price target for Bluebird Bio was raised to $40, a significant increase from the previous target of $2. This new valuation considers the sum-of-the-parts probability-adjusted discount cash flows of key products like Skysona, Zynteglo, and Lyfgenia, each showing substantial value growth. The strategic adjustments and product valuations provide a strong basis for the Buy rating.
According to TipRanks, Wang is a 4-star analyst with an average return of 3.7% and a 39.87% success rate. Wang covers the Healthcare sector, focusing on stocks such as PTC Therapeutics, Vertex Pharmaceuticals, and Sangamo Biosciences.
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Bluebird Bio (BLUE) Company Description:
bluebird bio, Inc. is a clinical-stage biotechnology company, which engages in the development of potential gene therapies for severe genetic diseases and cancer. Its integrated product platform includes gene therapy, cancer immunotherapy, and gene editing. Its product pipeline includes Lenti-D, LentiGlobin, BCL11a shRNA, bb2121, and bb21217. The company was founded by Philippe Leboulch and Ronald C. Dorazio on April 16, 1992 and is headquartered in Cambridge, MA.
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