Why bluebird bio Inc Continued Its March Higher Again Today

Shares of bluebird bio (NASDAQ: BLUE) continued their seemingly unstoppable march higher this week, jumping another 10.8% today as of 2:58 p.m. EDT after two analysts increased their price targets on the biotech. All told, Bluebird is up a whopping 27% for the week -- and it's only Thursday.

This occurred after Gilead Sciences (NASDAQ: GILD) announced the acquisition of fellow CAR-T biotech Kite Pharma (NASDAQ: KITE), driving acquisition speculation on Monday. The Food and Drug Administration (FDA) also approved Novartis' (NYSE: NVS) Kymriah yesterday, suggesting Bluebird might have an easy time getting its own CAR-T treatment, bb2121, approved.

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Source: Fool.com