Bluebird Bio price target lowered to $3 from $4 at BofA

BofA analyst Jason Gerberry lowered the firm’s price target on Bluebird Bio to $3 from $4 and keeps a Buy rating on the shares. The price target decrease reflects a more conservative view on ramp of the Lyfgenia Sickle Cell launch, the analyst tells investors in a research note. While the SCD market is meaningfully larger than Bluebird’s first two gene therapy launches, the firm came away from the Q2 update more cautious on the rollout of gene therapies, the firm says.