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Bluebird Bio: So Much for That Gilead Boost

When Gilead Sciences (GILD) announced its acquisition of Kite Pharma (KITE), every company that had exposure to CAR-T --a type of cancer therapy that could allow for the creation of personalized drugs--got a boost. That included companies like bluebird bio (BLUE) Juno Therapeutics (JUNO) and Cellectis (CLLS), among others. But did they get too much of a boost?

In the case of bluebird, they did, according to Morgan Stanley analyst Matthew Harrison and team, who downgraded its shares to Underweight from Equal Weight. They explain...