As previously reported, BofA downgraded Bluebird Bio (BLUE) to Neutral from Buy with a price target of 50c, down from $3, to reflect its view that the company’s key product launch – Lyfgenia for Sickle Cell – will ramp slower and achieve lower peak revenue. The firm notes that its updated price target also reflects assumed dilution for bridge financing needed to tap added tranches of the Hercules loan and extend beyond the current Q1 of 2025 runway.
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Read More on BLUE:
- Bluebird Bio downgraded to Neutral from Buy at BofA
- Bluebird Bio price target lowered to $2 from $4 at Barclays
- Bluebird Bio downgraded to Underweight from Neutral at JPMorgan
- Bluebird bio Reports Q3 2024 Earnings and Future Outlook
- Bluebird Bio reports Q3 EPS (31c), consensus (35c)
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