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BTIG Comments On Bluebird Bio's Q1 Print, Highlights Future Catalysts

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bluebird bio NASDAQ:BLUE - BTIG Comments On Bluebird Bio's Q1 Print, Highlights Future Catalysts

Shares of bluebird bio Inc BLUE were trading lower by 5 percent mid-Thursday afternoon after the company reported its first-quarter results.

Bluebird bio said that it lost $1.52 per share on revenue of $1.499 million during the quarter. Wall Street analysts were expecting the company to lose $1.23 per share on revenue of $4 million.

Dane Leone of BTIG commented on bluebird's report, noting that the company did not host a conference call or provide any material updates to its clinical programs. However, the analyst added that this has been the norm.

Leone continued that bluebird bio will present 10 abstracts at the upcoming American Society of Gene & Cell Therapy annual meeting this week. Most of the presentations will focus on pre-clinical work and process development activities.

Meanwhile, Leone pointed out that bluebird bio has achieved its 18 patient enrollment target for the study of transfusion dependent thalassemia patients. In addition, the company is on track to initiate the HGB-207 study in non-Beta-zero genotypes for transfusion-dependent thalassemia during the bottom half of this year.

Finally, Leone suggested that the next major catalyst for bluebird bio's stock is the ASH conference in early December for sickle-cell, thalassemia and potentially first data for bb2121 in multiple myeloma.

Shares of bluebird bio were reiterated with a Buy rating and $72 price target.

DateFirmActionFromTo
Mar 2016BTIG ResearchInitiates Coverage onBuy
Feb 2016Leerink SwannInitiates Coverage onOutperform
Jan 2016Piper JaffrayMaintainsOverweight

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