Baird starts Bluebird at Outperform, sees lovo-cel beating estimates

Baird initiated coverage of Bluebird Bio with an Outperform rating and $10 price target. Bluebird is a commercial-stage biotechnology company focused on the development of lentiviral-based cell therapies for sickle cell disease, transfusion-dependent beta-thalassemia and cerebral adrenoleukodystrophy, the analyst tells investors in a research note. The firm views Bluebird as a leader in the development of lentiviral-based cell therapies. The company is poised to launch lovo-cel into the sickle cell disease market, which represents a larger orphan disease opportunity, in late 2023, it adds. Baird believes immediate uptake of Bluebird’s treatments could outpace consensus estimates.