Bluebird Bio Inc. (BLUE) Rating Reiterated by Wedbush
Bluebird Bio Inc. (NASDAQ:BLUE)‘s stock had its “outperform” rating reaffirmed by analysts at Wedbush in a research report issued to clients and investors on Friday. They currently have a $117.00 target price on the stock. Wedbush’s target price suggests a potential upside of 110.81% from the company’s previous close.
A number of other brokerages have also commented on BLUE. Vetr raised shares of Bluebird Bio from a “buy” rating to a “strong-buy” rating and set a $44.44 price objective on the stock in a research report on Monday, June 27th. BTIG Research reissued a “buy” rating and issued a $72.00 price objective on shares of Bluebird Bio in a research report on Wednesday, June 29th. Jefferies Group reissued a “buy” rating and issued a $80.00 price objective on shares of Bluebird Bio in a research report on Friday, July 8th. Maxim Group reissued a “buy” rating and issued a $85.00 price objective (down previously from $105.00) on shares of Bluebird Bio in a research report on Thursday, August 4th. Finally, Leerink Swann reissued an “outperform” rating and issued a $67.00 price objective 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 assigned a hold rating and fourteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $91.60.
Shares of Bluebird Bio (NASDAQ:BLUE) opened at 55.50 on Friday. Bluebird Bio has a one year low of $35.37 and a one year high of $99.70. The firm has a 50-day moving average of $63.83 and a 200-day moving average of $51.18. The company’s market capitalization is $2.06 billion.
Bluebird Bio (NASDAQ:BLUE) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported ($1.59) earnings per share 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 company earned $1.55 million during the quarter, compared to the consensus estimate of $2.01 million. During the same period in the previous year, the firm posted ($1.57) EPS. The business’s quarterly revenue was down 68.6% compared to the same quarter last year. Equities research analysts expect that Bluebird Bio will post ($6.19) EPS for the current fiscal year.
In other news, insider Eric Sullivan sold 2,807 shares of the business’s stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $45.04, for a total value of $126,427.28. Following the completion of the sale, the insider now owns 4,656 shares of the company’s stock, valued at $209,706.24. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.50% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in BLUE. Seven Eight Capital LLC purchased a new stake in Bluebird Bio during the first quarter valued at $108,000. Quantbot Technologies LP boosted 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 valued at $123,000 after buying an additional 2,312 shares in the last quarter. First Mercantile Trust Co. purchased a new stake in Bluebird Bio during the third quarter valued at $129,000. BlackRock Inc. boosted its stake in 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 boosted 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 valued at $209,000 after buying an additional 1,619 shares in the last quarter.
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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