Bluebird Bio Inc. (BLUE) Rating Reiterated by Wedbush
Bluebird Bio Inc. (NASDAQ:BLUE)‘s stock had its “outperform” rating reissued by equities researchers at Wedbush in a research report issued on Monday. They presently have a $117.00 price objective on the stock. Wedbush’s price objective indicates a potential upside of 72.62% from the company’s current price.
BLUE has been the subject of several other research reports. Goldman Sachs Group Inc. reaffirmed a “buy” rating and issued a $135.00 price objective on shares of Bluebird Bio in a research note on Thursday, August 18th. Zacks Investment Research raised Bluebird Bio from a “sell” rating to a “hold” rating in a research note on Monday, August 8th. BTIG Research reaffirmed a “buy” rating and issued a $72.00 price objective on shares of Bluebird Bio in a research note on Wednesday, June 29th. Jefferies Group reaffirmed a “positive” rating and issued a $80.00 price objective on shares of Bluebird Bio in a research note on Thursday, July 14th. Finally, Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $95.00 price objective (down previously from $117.00) on shares of Bluebird Bio in a research note on Thursday, August 18th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Bluebird Bio currently has a consensus rating of “Buy” and a consensus price target of $90.25.
Shares of Bluebird Bio (NASDAQ:BLUE) traded down 0.21% on Monday, reaching $67.64. 610,408 shares of the company’s stock were exchanged. Bluebird Bio has a 52-week low of $35.37 and a 52-week high of $106.95. The stock’s market cap is $2.51 billion. The company’s 50 day moving average price is $59.90 and its 200-day moving average price is $49.20.
Bluebird Bio (NASDAQ:BLUE) last posted its earnings results on Wednesday, August 3rd. The company reported ($1.59) EPS for the quarter, missing analysts’ consensus estimates of ($1.44) by $0.15. The company earned $1.55 million during the quarter, compared to the consensus estimate of $2.01 million. Bluebird Bio had a negative return on equity of 24.85% and a negative net margin of 3,512.13%. The firm’s revenue was down 68.6% compared to the same quarter last year. During the same period last year, the company posted ($1.57) EPS. Equities analysts forecast that Bluebird Bio will post ($6.18) EPS for the current fiscal year.
In related news, insider Eric Sullivan sold 2,807 shares of the stock in a transaction on 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 in the company, valued at approximately $209,706.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider David Davidson sold 1,000 shares of the stock in a transaction on 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 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 corporate insiders.
Several institutional investors have recently modified their holdings of BLUE. Baillie Gifford & Co. boosted its position in shares of Bluebird Bio by 1.5% in the second quarter. Baillie Gifford & Co. now owns 5,054,175 shares of the company’s stock worth $218,795,000 after buying an additional 76,538 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Bluebird Bio by 14.2% in the second quarter. Vanguard Group Inc. now owns 2,680,871 shares of the company’s stock valued at $116,055,000 after buying an additional 333,396 shares during the period. State Street Corp boosted 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 period. BlackRock Fund Advisors boosted 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 period. Finally, Wellington Management Group LLP bought a new position in shares of Bluebird Bio during the first quarter valued at $51,095,000.
Bluebird Bio Company Profile
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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