Bluebird Bio price target adjusted for stock split at Barclays

Barclays analyst Gena Wang raised the firm’s price target on Bluebird Bio (BLUE) to $40 from $2 and keeps an Overweight rating on the shares. The firm updated the company’s model to reflect Bluebird’s 1:20 reverse split announced in December. The purpose of the reverse split was to meet Nasdaq’s listing compliance of minimum bid price, the analyst tells investors in a research note.