|Bid||137.91 x 800|
|Ask||138.20 x 1000|
|Day's Range||133.66 - 138.83|
|52 Week Range||87.49 - 181.55|
|Beta (3Y Monthly)||2.80|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jul 31, 2019 - Aug 5, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||171.00|
Two Boston-based investment firms have joined the fray of firms raising new funds, collecting a combined $700 million according to financial disclosures made in the last week.
JP Morgan’s Cory Kasimov is making bullish bets on these two gene therapy stocks. This is an area with the potential to completely transform the healthcare landscape. It involves making changes to DNA to help treat, or potentially even cure, a disease. Although it is still early days, there are an estimated 10,000 diseases caused by a single mutation that can theoretically be corrected with a targeted gene therapy. These are known as monogenic diseases. “Though relatively rare, they affect millions of people worldwide” writes the World Health Organization, adding that in Canada monogenic diseases may account for up to 40% of the work of hospital based paediatric practice (Scriver, 1995).Here we take a closer look at two gene therapy stocks JP Morgan’s Kasimov believes is primed to outperform. Note that both these stocks also score a ‘Strong Buy’ consensus from top-performing analysts. That’s based on all the ratings received by each stock over the last three months. Let’s take a closer look now: BioMarin (BMRN)BioMarin is a world leader in developing innovative therapeutics for rare genetic diseases. “We believe BioMarin’s depth and breadth of orphan disease assets present a unique opportunity in biotech” cheers Kasimov. Indeed, the company has seven products on the market, and a growing product pipeline of multiple clinical and preclinical candidates. Excitingly, this includes valrox gene therapy for the treatment of Hemophilia A. This genetic disease is caused by the deficiency of clotting factor VIII. It is the most common type of hemophilia, with an estimated 90,000 patients in the territories where BioMarin operates.Currently the standard of care for severe hemophilia A patients is intravenous infusions three times a week. However many patients still experience spontaneous bleeding events- which can prove fatal. In contrast, gene therapy has the promise of delivering, in as little as a single administration, the missing gene needed to produce factor VIII. BioMarin has now revealed plans to submit valrox for regulatory approval in US/EU in 4Q19. Kasimov calls the news “an incremental positive that could serve to help firmly establish valrox in the commercial setting well ahead of any potential competitors.”He sees the stock as ‘undervalued’ at current levels and writes: “BMRN remains a high conviction long-term idea between its orphan-focused, diversified base business (>$1B in sales), growing commercial portfolio, and potentially disruptive late-stage pipeline.” Kasimov has a $133 price target on the stock (65% upside potential).In total, eleven top analysts have published buy ratings on the stock in the last three months. So no hold or sell ratings here. Meanwhile the $133 average analyst price target suggests sizable upside potential of 60% lies ahead. View BMRN Price Target & Analyst Ratings Detail Bluebird Bio (BLUE)Bluebird Bio is a clinical-stage company that, like BioMarin, is developing potentially transformative gene therapies for severe genetic and rare diseases. In particular, the company has just released updated results for LentiGlobin- a potential treatment and cure for sickle cell disease (SCD). Investors are keeping a close eye on the sickle cell opportunity, as this is a severe life-shortening blood disorder affecting around 110,000 patients in the US. Kasimov describes the latest results as ‘consistent’ and ‘incredibly profound’, adding that “the SCD data, in particular, reaffirms our prevailing view that… LentiGlobin is going to be exceedingly hard to beat by earlier-stage competition.” Bluebird expects filing and approval for LentiGlobin for SCD to take place in 2022.At the same time, it’s the company’s broad focus that really sets BLUE apart. “One particularly attractive yet underappreciated aspect of Bluebird is all the different technologies it has at its disposal”, says Kasimov. For BLUE that means using the right tools/ combinations to effectively design novel therapeutic- be it gene therapy, gene therapy, CAR T capabilities or even gene editing. For example, the company has also demonstrated encouraging initial data for bb2121, a CAR-T therapy for the potential treatment of multiple myeloma, that it is developing with Celgene (CELG). Net-net “We remain intrigued by an innovative company that has the potential to go 4-for-4 with its lead assets and has a multitude of tools in the shed (an anti-pure-play) to fuel the pipeline for a long time to come” says the analyst. He has a Street-high price target on BLUE of $195 (52% upside potential), and concludes: “In our opinion, BLUE is well positioned for long-term success.” Overall, top analysts agree with this upbeat outlook. Three out of four analysts rate the stock a ‘buy.’ We can also see that the $153 average analyst price target indicates upside potential of 19%.View BLUE Price Target & Analyst Ratings DetailView other top biotech stock ideas with the Top Analysts' Stocks tool
Read the beginning of this article here. At the end of March 2019, Marshall Wace held the most valuable position in Zoetis Inc. (NYSE:ZTS), the biggest producer of vaccinations and medicine for livestock and pets that was once a part of the world’s biggest drug maker, Pfizer. The company has a market cap of $54.81 […]
Bluebird Bio stock dipped Tuesday after an analyst noted manufacturing hiccups will prevent the biotech company from selling its gene therapy in Europe and the U.S. until 2020 and 2021, respectively.
bluebird bio Inc NASDAQ/NGS:BLUEView full report here! Summary * ETFs holding this stock are seeing positive inflows * Bearish sentiment is high * Economic output for the sector is expanding but at a slower rate Bearish sentimentShort interest | NegativeShort interest is high for BLUE with between 15 and 20% of shares on loan. This means that investors who seek to profit from falling equity prices are currently targeting BLUE. However, the last change in the short interest score occurred more than 1 month ago and implies that there has been little change in sentiment. Money flowETF/Index ownership | PositiveETF activity is positive. Over the last month, ETFs holding BLUE are favorable, with net inflows of $2.87 billion. Additionally, the rate of inflows is increasing. Economic sentimentPMI by IHS Markit | NegativeAccording to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Healthcare sector is rising. The rate of growth is weak relative to the trend shown over the past year, however, and is easing. Credit worthinessCredit default swapCDS data is not available for this security.Please send all inquiries related to the report to email@example.com.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
As we already know from media reports and hedge fund investor letters, many hedge funds lost money in fourth quarter, blaming macroeconomic conditions and unpredictable events that hit several sectors, with technology among them. Nevertheless, most investors decided to stick to their bullish theses and recouped their losses by the end of the first quarter. […]
Following European approval earlier this month, bluebird bio announced its beta-thalassemia gene therapy will launch with a sky-high price tag.
(BLUE) will sell a gene-therapy treatment for the disease beta-thalassemia for $1.8 million per patient, but the money won’t start coming in as soon as expected. The drug, Zynteglo—the second-most-expensive in the world, according to The Wall Street Journal—received conditional marketing authorization from the European Union early this month. The treatment has yet to be approved by the Food and Drug Administration.
Th Cambridge biotech set a price tag of $1.8 million spread over five years (315,000 euros per year, or the equivalent of $356,000 annually) for its first commercial drug on Friday, for which it received approval to sell in Europe last week.
In patients who were at least six months post-treatment with LentiGlobin for SCD, median level of abnormal sickle hemoglobin was reduced to ≤50 percent of total Hb
Up to 3.8 years of transfusion independence in Phase 1/2 Northstar study in patients with TDT who do not have a β0/β0 genotype
Errant Gene Therapeutics claims in a new lawsuit that local venture capital firm Third Rock Ventures and bluebird bio CEO Nick Leschly worked to hinder its drug development efforts so it could obtain a key part of its intellectual property.
While bluebird bio, Inc. (NASDAQ:BLUE) shareholders are probably generally happy, the stock hasn't had particularly...
To access the live webcast of bluebird bio’s presentation, please visit the “Events & Presentations” page within the Investors & Media section of the bluebird bio website at http://investor.bluebirdbio.com. Replays of the webcast will be available on the bluebird bio website for 90 days following the event. bluebird bio is pioneering gene therapy with purpose.
One of Massachusetts' leading life sciences venture capital firms has raised its largest ever fund, collecting $770 million to invest in new startups. Third Rock Ventures LLC closed its fifth fundraising this week, the company stated in a press release.
bluebird bio (BLUE) announces that the EC has granted conditional marketing authorization to Zynteglo, its first gene therapy, for patients aged 12 years or older with TDT, who do not have a specific genotype.
European regulators have signed off on the biotech's revolutionary gene therapy for beta-thalassemia.