Bluebird Bio Inc. (BLUE) Given Buy Rating at Jefferies Group
Other equities research analysts also recently issued reports about the company. Goldman Sachs Group Inc. reiterated a buy rating and issued a $135.00 price target on shares of Bluebird Bio in a report on Thursday, August 18th. Zacks Investment Research upgraded Bluebird Bio from a sell rating to a hold rating in a report on Monday, August 8th. BTIG Research reiterated a buy rating and issued a $72.00 price target on shares of Bluebird Bio in a report on Wednesday, June 29th. Wedbush reiterated an outperform rating and issued a $117.00 price target on shares of Bluebird Bio in a report on Wednesday, August 3rd. Finally, Piper Jaffray Cos. reiterated an overweight rating and issued a $95.00 price target (down from $117.00) on shares of Bluebird Bio in a report on Thursday, August 18th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $90.25.
Shares of Bluebird Bio (NASDAQ:BLUE) traded down 1.39% during midday trading on Friday, hitting $66.84. The company had a trading volume of 126,501 shares. The stock’s 50-day moving average price is $59.90 and its 200-day moving average price is $49.20. The company’s market cap is $2.48 billion. Bluebird Bio has a 12 month low of $35.37 and a 12 month high of $106.95.
Bluebird Bio (NASDAQ:BLUE) last announced its earnings results on Wednesday, August 3rd. The company reported ($1.59) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.44) by $0.15. Bluebird Bio had a negative net margin of 3,512.13% and a negative return on equity of 24.85%. The business earned $1.55 million during the quarter, compared to analyst estimates of $2.01 million. During the same period in the previous year, the company earned ($1.57) earnings per share. The business’s revenue for the quarter was down 68.6% on a year-over-year basis. On average, equities research analysts forecast that Bluebird Bio will post ($6.18) EPS for the current year.
In other Bluebird Bio news, insider Eric Sullivan sold 2,807 shares of the company’s stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $45.04, for a total value of $126,427.28. Following the transaction, the insider now directly owns 4,656 shares of the company’s stock, valued at approximately $209,706.24. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider David Davidson sold 1,000 shares of the company’s stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $45.08, for a total value of $45,080.00. Following the completion of the transaction, the insider now directly owns 10,600 shares in the company, valued at $477,848. The disclosure for this sale can be found here. 3.50% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Wellington Management Group LLP purchased a new position in shares of Bluebird Bio during the first quarter valued at $51,095,000. BlackRock Fund Advisors raised its position in shares of Bluebird Bio by 80.0% in the second quarter. BlackRock Fund Advisors now owns 1,386,229 shares of the company’s stock valued at $60,010,000 after buying an additional 616,095 shares during the last quarter. State Street Corp raised its position in shares of Bluebird Bio by 41.4% in the second quarter. State Street Corp now owns 1,699,977 shares of the company’s stock valued at $73,592,000 after buying an additional 498,041 shares during the last quarter. RTW Investments LLC raised its position in shares of Bluebird Bio by 170.4% in the second quarter. RTW Investments LLC now owns 612,025 shares of the company’s stock valued at $26,495,000 after buying an additional 385,654 shares during the last quarter. Finally, Deerfield Management Co. purchased a new position in shares of Bluebird Bio during the second quarter valued at $14,636,000.
About Bluebird Bio
bluebird bio, Inc is a biotechnology company. The Company is focused on developing transformative gene therapies for severe genetic and rare diseases and in the field of T cell-based immunotherapy. Its gene therapy clinical programs include LentiGlobin product candidate to treat transfusion-dependent B-thalassemia (TDT) and severe sickle cell disease (SCD), and Lenti-D product candidate to treat cerebral adrenoleukodystrophy (CALD), a rare hereditary neurological disorder.
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