What's Going On With Bluebird Bio Stock?
Portfolio Pulse from Erica Kollmann
Bluebird Bio, Inc. (NASDAQ:BLUE) stock is trading higher after Morgan Stanley upgraded the stock from Underweight to Equal-Weight and increased the price target from $3 to $7. The upgrade is in anticipation of an FDA decision on the company's drug lovo-cel for sickle cell disease by December 20. Morgan Stanley expects the stock to rise as the decision date approaches and believes in the potential of Bluebird Bio's other treatments, Skysona and Zynteglo, in the long term. The stock has a high short interest of 23.16%.
December 08, 2023 | 4:53 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Bluebird Bio's stock is experiencing an uptick following Morgan Stanley's upgrade and price target increase, with positive expectations for the FDA decision on lovo-cel.
The upgrade by Morgan Stanley is a significant positive endorsement for Bluebird Bio, suggesting improved confidence in the company's drug pipeline. The specific mention of the upcoming FDA decision on lovo-cel is likely to be a key driver of investor sentiment and stock price in the short term. The high short interest indicates potential for a short squeeze if positive news continues, which could further drive the stock price up.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100