bluebird bio, Inc. (BLUE) Receives “Outperform” Rating from Cowen and Company
bluebird bio, Inc. (NASDAQ:BLUE)‘s stock had its “outperform” rating reissued by Cowen and Company in a research report issued to clients and investors on Thursday.
A number of other brokerages have also weighed in on BLUE. Wedbush reissued an “outperform” rating and issued a $100.00 price target (down previously from $121.00) on shares of bluebird bio in a report on Friday, June 23rd. BidaskClub raised shares of bluebird bio from a “buy” rating to a “strong-buy” rating in a report on Friday, June 23rd. Morgan Stanley reissued an “equal weight” rating and issued a $105.00 price target (up previously from $91.00) on shares of bluebird bio in a report on Wednesday, June 14th. Cantor Fitzgerald set a $39.00 price target on shares of bluebird bio and gave the company a “sell” rating in a report on Saturday, June 24th. Finally, Janney Montgomery Scott set a $125.00 price target on shares of bluebird bio and gave the company a “buy” rating in a report on Monday, June 26th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have assigned a buy rating to the company’s stock. bluebird bio has a consensus rating of “Hold” and a consensus price target of $100.74.
Shares of bluebird bio (BLUE) traded up 10.98% during trading on Thursday, hitting $124.85. The stock had a trading volume of 2,785,456 shares. The stock’s market cap is $5.69 billion. The stock’s 50-day moving average price is $97.31 and its 200 day moving average price is $92.81. bluebird bio has a one year low of $37.05 and a one year high of $125.60.
bluebird bio (NASDAQ:BLUE) last posted its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported ($1.73) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.66) by $0.07. The firm had revenue of $16.70 million for the quarter, compared to analyst estimates of $6.29 million. bluebird bio had a negative return on equity of 32.19% and a negative net margin of 1,080.59%. The business’s quarterly revenue was up 977.4% on a year-over-year basis. During the same period in the previous year, the business posted ($1.59) EPS. On average, equities analysts forecast that bluebird bio will post ($6.82) EPS for the current year.
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In other bluebird bio news, insider Jason Cole sold 17,245 shares of the firm’s stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $100.22, for a total value of $1,728,293.90. Following the transaction, the insider now directly owns 30,871 shares of the company’s stock, valued at $3,093,891.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nick Leschly sold 25,667 shares of the stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $115.18, for a total transaction of $2,956,325.06. Following the completion of the sale, the insider now owns 339,368 shares of the company’s stock, valued at approximately $39,088,406.24. The disclosure for this sale can be found here. Insiders sold 105,023 shares of company stock worth $11,238,508 over the last ninety days. Insiders own 3.90% of the company’s stock.
A number of hedge funds have recently bought and sold shares of BLUE. QS Investors LLC increased its stake in bluebird bio by 70.7% in the second quarter. QS Investors LLC now owns 1,207 shares of the biotechnology company’s stock worth $127,000 after buying an additional 500 shares during the period. Bank of Montreal Can increased its stake in bluebird bio by 118.9% in the second quarter. Bank of Montreal Can now owns 1,677 shares of the biotechnology company’s stock worth $176,000 after buying an additional 911 shares during the period. Turner Investments LLC bought a new stake in bluebird bio during the second quarter worth about $184,000. SG Americas Securities LLC increased its stake in bluebird bio by 17.9% in the second quarter. SG Americas Securities LLC now owns 1,945 shares of the biotechnology company’s stock worth $204,000 after buying an additional 295 shares during the period. Finally, Fairfield Bush & CO. bought a new stake in bluebird bio during the second quarter worth about $210,000.
About bluebird bio
bluebird bio, Inc is a clinical-stage biotechnology company. The Company is focused on developing gene therapies for severe diseases and cancer. With its lentiviral-based gene therapy and gene editing capabilities, it has built an integrated product platform with various applications in these areas. The Company’s clinical programs in severe genetic diseases include its LentiGlobin product candidate to treat transfusion-dependent b-thalassemia and to treat severe sickle cell disease (SCD) and its Lenti-D product candidate to treat cerebral adrenoleukodystrophy (CALD).
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