Morgan Stanley lowered the firm’s price target on Bluebird Bio to $5 from $7 and keeps an Equal Weight rating on the shares. Following the recent approval of Lyfgenia for the treatment of sickle cell disease, Morgan Stanley believes the $3.1M price could present a headwind for Lyfgenia adoption given that competing Casgevy is priced lower at $2.2M, resulting in lower peak market share, the analyst tells investors in a research note.
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