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BofA upgrades Bluebird bio (NASDAQ: BLUE) to ‘buy’, sees potential in its sickle cell gene therapy
Summary
Bluebird bio (NASDAQ: BLUE) received a rating upgrade from BofA Securities, leading to an uptick in the biotech company’s shares. BLUE shares recorded a 19.8% rise following BofA’s release of a rating upgrade.
Bluebird is a biotech firm engaged in developing gene therapy for genetic and rare diseases. The gene therapy aims to modify the cells of a patient to correct the underlying cause of the genetic disease. It generates revenue through research fees, license fees, and grants.
Refinitiv data suggests that the mean recommendation rating on BLUE is 2.6 on a scale of one to five. Here, one represents ‘strong buy’ rating and five represents ‘strong sell’ rating’.
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