Cantor Fitzgerald Downgrades Bluebird Bio Inc. (BLUE) to Sell
Bluebird Bio Inc. (NASDAQ:BLUE) was downgraded by research analysts at Cantor Fitzgerald from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.
Other equities analysts have also issued research reports about the stock. Goldman Sachs Group Inc. restated a “buy” rating and set a $135.00 price target on shares of Bluebird Bio in a research report on Thursday, September 8th. Maxim Group restated a “buy” rating and set a $85.00 price target (down previously from $105.00) on shares of Bluebird Bio in a research report on Thursday, August 4th. BTIG Research restated a “buy” rating and set a $72.00 price target on shares of Bluebird Bio in a research report on Wednesday, June 29th. Jefferies Group restated a “buy” rating and set a $80.00 price target on shares of Bluebird Bio in a research report on Friday, July 8th. Finally, Piper Jaffray Cos. set a $95.00 target price on shares of Bluebird Bio and gave the company a “buy” rating in a research report on Thursday, September 8th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $90.25.
Bluebird Bio (NASDAQ:BLUE) opened at 65.24 on Friday. Bluebird Bio has a 12 month low of $35.37 and a 12 month high of $99.70. The firm’s 50-day moving average is $63.52 and its 200-day moving average is $50.81. The firm’s market cap is $2.42 billion.
Bluebird Bio (NASDAQ:BLUE) last released its quarterly earnings results on Wednesday, August 3rd. The company reported ($1.59) EPS for the quarter, missing the consensus estimate of ($1.44) by $0.15. The firm had revenue of $1.55 million for 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% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.57) EPS. Equities analysts expect that Bluebird Bio will post ($6.19) earnings per share for the current year.
In other Bluebird Bio news, insider Eric Sullivan sold 2,912 shares of the company’s stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $55.01, for a total transaction of $160,189.12. Following the completion of the sale, the insider now directly owns 4,456 shares of the company’s stock, valued at $245,124.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.50% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. First Mercantile Trust Co. bought a new stake in Bluebird Bio during the third quarter worth about $129,000. Seven Eight Capital LLC bought a new stake in Bluebird Bio during the first quarter worth about $108,000. Quantbot Technologies LP raised its stake in Bluebird Bio by 431.3% in the second quarter. Quantbot Technologies LP now owns 2,848 shares of the company’s stock worth $123,000 after buying an additional 2,312 shares during the period. BNP Paribas Arbitrage SA raised its stake in Bluebird Bio by 110.5% in the third quarter. BNP Paribas Arbitrage SA now owns 3,084 shares of the company’s stock worth $209,000 after buying an additional 1,619 shares during the period. Finally, Amalgamated Bank bought a new stake in Bluebird Bio during the second quarter worth about $222,000.
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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