Bluebird Bio price target lowered by $3 at Wells Fargo, here’s why

Wells Fargo lowered the firm’s price target on Bluebird Bio to $5 from $8 and keeps an Equal Weight rating on the shares. Bluebird Bio announced that it anticipates 85-105 patient starts in 2024 across Lyfgenia for sickle cell disease, Zynteglo for transfusion-dependent beta-thalassemia and Skysona for cerebral adrenoleukodystrophy, the analyst tells investors in a research note. The price target decrease reflects Lyfgenia approval with a black box warning, resulting in lowered expectations for penetration in SCD.