Bluebird Bio price target lowered to $3 from $4 at Wells Fargo

Wells Fargo lowered the firm’s price target on Bluebird Bio to $3 from $4 and keeps an Equal Weight rating on the shares following the Q4 report. The launch in transfusion-dependent beta-thalassemia remains in line, though the launch in the much bigger market of sickle cell disease “appears to lack initial bolus,” the analyst tells investors in a research note. The firm looks to Bluebird’s next quarterly update to gauge how well the company could deliver the 85-105 patient start guidance for the year.