Bluebird Bio price target lowered to $4 from $5 at BofA

BofA lowered the firm’s price target on Bluebird Bio to $4 from $5 and keeps a Buy rating on the shares. Shares underperformed yesterday, which was likely due to softer than expected Q4 revenue, which management attributed to cell infusion deferrals that should be recognized in Q1. Bluebird is maintaining its guidance provided in December 2023 for 85-105 patient starts across all three of its gene therapies, noted the analyst, who reiterates a Buy on upside from current trading levels on the Lyfgenia launch in the “attractive SCD market.”