Cowen and Company Reaffirms “Outperform” Rating for Bluebird Bio Inc. (BLUE)
Bluebird Bio Inc. (NASDAQ:BLUE)‘s stock had its “outperform” rating reissued by equities research analysts at Cowen and Company in a research note issued to investors on Monday.
Several other research analysts have also recently issued reports on BLUE. Vetr raised Bluebird Bio from a “buy” rating to a “strong-buy” rating and set a $44.44 target price on the stock in a research report on Monday, June 27th. BTIG Research reaffirmed a “buy” rating and set a $72.00 target price on shares of Bluebird Bio in a research report on Wednesday, June 29th. Jefferies Group reaffirmed a “buy” rating and set a $80.00 target price on shares of Bluebird Bio in a research report on Friday, July 8th. Wedbush reaffirmed an “outperform” rating and set a $117.00 target price on shares of Bluebird Bio in a research report on Wednesday, August 3rd. Finally, Maxim Group reaffirmed a “buy” rating and set a $85.00 target price (down previously from $105.00) on shares of Bluebird Bio in a research report on Thursday, August 4th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and fourteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $91.60.
Bluebird Bio (NASDAQ:BLUE) traded down 2.07% on Monday, reaching $55.40. The company’s stock had a trading volume of 614,082 shares. The firm has a 50 day moving average of $63.71 and a 200 day moving average of $50.93. Bluebird Bio has a 12 month low of $35.37 and a 12 month high of $99.70. The firm’s market cap is $2.06 billion.
Bluebird Bio (NASDAQ:BLUE) last released its quarterly earnings data on Wednesday, August 3rd. The company reported ($1.59) EPS for the quarter, missing the Thomson Reuters’ 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 net margin of 3,512.13% and a negative return on equity of 24.85%. The company’s revenue was down 68.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.57) EPS. Analysts anticipate that Bluebird Bio will post ($6.19) earnings per share for the current year.
In other news, insider Eric Sullivan sold 2,807 shares of the company’s stock in a transaction on Wednesday, July 20th. The stock was sold at an average price of $45.04, for a total transaction of $126,427.28. Following the transaction, the insider now 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 Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.50% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of BLUE. First Mercantile Trust Co. purchased a new position in shares of Bluebird Bio during the third quarter worth approximately $129,000. Seven Eight Capital LLC purchased a new position in shares of Bluebird Bio during the first quarter worth approximately $108,000. Quantbot Technologies LP boosted its position 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 worth $123,000 after buying an additional 2,312 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position 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 worth $209,000 after buying an additional 1,619 shares in the last quarter. Finally, Amalgamated Bank purchased a new position in shares of Bluebird Bio during the second quarter worth approximately $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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