Bluebird Bio Inc. (BLUE) Receives Buy Rating from BTIG Research
BTIG Research restated their buy rating on shares of Bluebird Bio Inc. (NASDAQ:BLUE) in a report released on Saturday. They currently have a $83.00 price objective on the stock, up from their prior price objective of $72.00.
Several other equities research analysts have also recently weighed in on BLUE. Maxim Group set a $85.00 target price on Bluebird Bio and gave the stock a buy rating in a research note on Thursday, September 22nd. Leerink Swann restated an outperform rating and set a $67.00 target price on shares of Bluebird Bio in a research note on Thursday, August 4th. Wedbush restated an outperform rating and set a $117.00 target price on shares of Bluebird Bio in a research note on Wednesday, August 3rd. Piper Jaffray Cos. set a $95.00 target price on Bluebird Bio and gave the stock a buy rating in a research note on Thursday, September 8th. Finally, Vetr upgraded Bluebird Bio from a buy rating to a strong-buy rating and set a $44.44 target price for the company in a research note on Monday, June 27th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Bluebird Bio presently has an average rating of Buy and a consensus target price of $91.60.
Shares of Bluebird Bio (NASDAQ:BLUE) traded down 13.29% during midday trading on Friday, hitting $56.57. The company had a trading volume of 4,144,106 shares. The stock’s market capitalization is $2.10 billion. Bluebird Bio has a one year low of $35.37 and a one year high of $99.70. The stock’s 50-day moving average price is $63.71 and its 200-day moving average price is $50.93.
Bluebird Bio (NASDAQ:BLUE) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported ($1.59) earnings per share (EPS) for the quarter, missing the consensus estimate 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 net margin of 3,512.13% and a negative return on equity of 24.85%. The company’s quarterly revenue was down 68.6% on a year-over-year basis. During the same quarter last year, the firm posted ($1.57) earnings per share. Analysts predict that Bluebird Bio will post ($6.19) EPS for the current year.
In other Bluebird Bio news, insider Eric Sullivan sold 2,912 shares of the stock in a transaction dated Wednesday, July 27th. The stock was 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 in the company, valued at approximately $245,124.56. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.50% of the company’s stock.
A number of hedge funds have recently modified their holdings of BLUE. Seven Eight Capital LLC purchased a new stake in shares of Bluebird Bio during the first quarter valued at approximately $108,000. Quantbot Technologies LP increased its stake in shares of Bluebird Bio by 431.3% in the second quarter. Quantbot Technologies LP now owns 2,848 shares of the company’s stock valued at $123,000 after buying an additional 2,312 shares in the last quarter. First Mercantile Trust Co. purchased a new stake in shares of Bluebird Bio during the third quarter valued at approximately $129,000. BlackRock Inc. increased its stake in shares of Bluebird Bio by 341.0% in the first quarter. BlackRock Inc. now owns 4,569 shares of the company’s stock valued at $194,000 after buying an additional 3,533 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in shares of Bluebird Bio by 110.5% in the third quarter. BNP Paribas Arbitrage SA now owns 3,084 shares of the company’s stock valued at $209,000 after buying an additional 1,619 shares in the last quarter.
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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