Is Bluebird Bio Stock a Buy Now?
Penny stocks -- companies whose shares are trading for $5 or less -- look cheap for a reason: They have encountered severe issues, and the market has little faith that they will turn things around. That's the situation in which Bluebird Bio (NASDAQ: BLUE), a biotech focused on gene editing, finds itself. The company has made tremendous progress and has proven innovative abilities, but still faces severe headwinds.
On the bright side, buying shares today would translate to outsized returns in the long run if the company can mount a comeback. Is it worth the risk?
Many gene-editing specialists have struggled to launch just one product. Bluebird Bio has three, an impressive achievement. The first is Zynteglo, a therapy for transfusion-dependent beta-thalassemia (TDT), a blood-related disease. Then there's Skysona, which treats cerebral adrenoleukodystrophy (CALD), a rare, progressive neurologic condition. Lastly, Bluebird Bio earned approval for Lyfgenia to treat sickle cell disease (SCD), another blood disorder, in December of last year.
Source Fool.com
