Bluebird Bio price target lowered to $6 from $7 at Baird

Baird lowered the firm’s price target on Bluebird Bio to $6 from $7 and keeps an Outperform rating on the shares. The firm said though the number of patients who have undergone cell collections for treatment with Lyfgenia is likely lower than some investors anticipated, Baird continues to be believe early indicators such as the 40 patients with cell collections scheduled through year-end, point to demand for Bluebird’s therapies being more robust than is appreciated by the current valuation