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Goldman Is Buying: Bluebird Bio Off To 'Flying Start'

bluebird bio Inc  is scheduled to present interim data from the Phase II/III study of its lead gene therapy Lenti-D in the pediatric neurodegenerative disease, CCALD, at the plenary session of the American Academy of Neurology (AAN), on April 20.

Goldman Sachs’ Salveen Richter maintained a Buy rating on the company, with a price target of $149.


Richter believes Lenti-D, with estimated peak worldwide sales of $179 million, validates the company’s platform, and the presentation at AAN would the first “in a slew of upcoming catalysts.”

The analyst expects bluebird bio to provide more clarity of Gen2 LentiGlobin in 2H, along with an update on LentiGlobin and data on Gen2 VCN and CAR T in 2016.

What Trial Data Suggests

According to the AAN abstract, “Lenti-D appears to prevent CCALD progression evidenced by absence of major functional disabilities (MFDs, the primary endpoint) or worsening of Neurological Function Score (NFS),” Richter mentioned.

The analyst also pointed out the CCALD biomarkers indicated the efficacy of Lenti-D in terms of limiting the progression of neuro-inflammation.

Richter believes the stock could move up more than 10 percent on positive data.

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