Down 51% in 2023, Here's Why Bluebird Bio Stock Could Soon Double, Says Wall Street
Wall Street analysts' opinions are often well worth considering, but should the small investor always heed them? Let's look at Bluebird Bio (NASDAQ: BLUE). Per Wall Street's analysts, its shares could rise 118% by this time next year despite losing 51% of their value so far in 2023.
Bluebird's gene therapy lovo-cel for treating sickle cell disease (SCD) could be approved before the end of this year, bringing in fresh sales. And so it's easy to see what makes analysts hopeful. If approved, lovo-cel would be the third gene therapy commercialized by the biotech. But the picture is a bit more complicated, seeing as how the company still isn't anywhere near profitable.
Let's delve into its current prospects and analyze whether its stock has a chance of actually doing what the analysts are predicting.
Source Fool.com
