Connect with us

Hi, what are you looking for?

Uncategorized

bluebird bio upgraded to ‘buy’ at BofA, stock jumps 27%

© Reuters. bluebird bio upgraded to Buy at BofA, stock jumps 27%

bluebird bio Inc (NASDAQ:) shares surged more than 27% intra-day today after BofA Securities upgraded the company to Buy from Neutral and raised its price target to $10.00 from $6.00, noting that the company’s sickle cell disease (SCD) gene therapy product, lovo-cel, is underappreciated.

The bank expects timely approval from the FDA on the expected December action date. Despite some setbacks along the path to lovo-cel approval, BofA believes that the data for the drug are on par with or even more robust than those of its closest competitor. As a result, they project peak sales to approach $1 billion.

Furthermore, the firm mentioned that the recent acceptance of the biologics license application (BLA) for lovo-cel mitigates further timeline risks.

With the anticipation of lovo-cel being available on the market for SCD, BofA forecasts that bluebird bio will achieve profitability by 2026, assuming one additional financing event.

The firm believes that investors understand the revenue opportunity in SCD, as evidenced by valuations of comparable companies. Therefore, they view the launch of lovo-cel as a crucial event that will contribute to bluebird bio’s share price appreciation.

Read the full article here

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

News

Sadakat programlarının sunduğu faydaları en iyi tarzda gözden geçirmek için, planın sunduğu tüm fırsatları izleme yapmalısınız. Bu kampanyalar, sadakat planı katılımcılarına fazladan puanlar veya...

News

Название казино Уровни программы лояльности Бонусы и привилегии Типы бонусов (новые игроки) Типы бонусов (опытные игроки) Условия получения и отыгрыша Требования по отыгрышу (вейджер)...

News

1xBet – одна из крупнейших, если не самая крупная, букмекерская контора в мире. Свою популярность контора получила не за красивые глаза: БК 1xBet предлагает...

News

Если вы ищете ТОП онлайн казино, стоит обратить внимание на рейтинг казино, который поможет выбрать самые надежные и проверенные площадки. Играть в казино на...