Bluebird Bio price target lowered to $8 at RBC Capital on ‘limited cash runway’

RBC Capital lowered the firm’s price target on Bluebird Bio (BLUE) to $8 from $80 and keeps a Sector Perform rating on the shares as part of a broader research note previewing Q4 and 2025 earnings in the Biotech sector. Q4 should should come in generally solid across the firm’s large and mid-cap commercial stage companies, helped by seasonal tailwinds, though 2025 expectations may be seeing more optimism than necessarily warranted with a number of launches already baked into numbers and durability of certain core franchises that could challenge certain setups, the analyst tells investors in a research note. For Bluebird, RBC is also updating its model to reflect the recent developments around a 20:1 reverse stock split and “limited cash runway” that is likely “only weeks”.