Leerink Swann Reaffirms Outperform Rating for bluebird bio, Inc. (BLUE)
bluebird bio, Inc. (NASDAQ:BLUE)‘s stock had its “outperform” rating restated by equities researchers at Leerink Swann in a report released on Saturday. They currently have a $120.00 target price on the biotechnology company’s stock. Leerink Swann’s price target indicates a potential downside of 12.63% from the stock’s current price.
Several other analysts have also commented on BLUE. Zacks Investment Research lowered bluebird bio from a “buy” rating to a “hold” rating in a research note on Tuesday, July 18th. Cantor Fitzgerald set a $37.00 price target on bluebird bio and gave the company a “sell” rating in a research note on Monday, June 5th. Cowen and Company reaffirmed an “outperform” rating on shares of bluebird bio in a research note on Thursday, August 31st. Wedbush reaffirmed an “outperform” rating on shares of bluebird bio in a research note on Tuesday, June 6th. Finally, Morgan Stanley boosted their price target on bluebird bio from $103.00 to $105.00 and gave the company an “equal weight” rating in a research note on Monday, August 7th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have given a buy rating to the stock. bluebird bio has an average rating of “Hold” and an average target price of $109.61.
Shares of bluebird bio (BLUE) traded down 2.69% during trading on Friday, reaching $137.35. The company had a trading volume of 1,215,502 shares. The stock has a 50 day moving average price of $108.37 and a 200 day moving average price of $97.10. bluebird bio has a 12 month low of $37.05 and a 12 month high of $143.50. The firm’s market capitalization is $6.26 billion.
bluebird bio (NASDAQ:BLUE) last announced 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). bluebird bio had a negative return on equity of 32.19% and a negative net margin of 1,080.59%. The firm had revenue of $16.70 million for the quarter, compared to analyst estimates of $6.29 million. During the same period in the previous year, the business posted ($1.59) EPS. bluebird bio’s revenue for the quarter was up 977.4% compared to the same quarter last year. On average, equities research analysts forecast that bluebird bio will post ($6.84) EPS for the current year.
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In other news, Director John Maraganore sold 18,868 shares of the business’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $131.21, for a total transaction of $2,475,670.28. Following the completion of the sale, the director now owns 24,711 shares in the company, valued at $3,242,330.31. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Nick Leschly sold 46,833 shares of the business’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $122.27, for a total value of $5,726,270.91. Following the sale, the insider now owns 289,368 shares of the company’s stock, valued at approximately $35,381,025.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 133,829 shares of company stock valued at $16,006,899. 3.90% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. increased its holdings in bluebird bio by 5.6% in the second quarter. Ameritas Investment Partners Inc. now owns 3,600 shares of the biotechnology company’s stock valued at $378,000 after purchasing an additional 191 shares during the last quarter. Fairfield Bush & CO. bought a new stake in bluebird bio in the second quarter valued at about $210,000. Raymond James Financial Services Advisors Inc. bought a new stake in bluebird bio in the second quarter valued at about $211,000. The Manufacturers Life Insurance Company increased its holdings in bluebird bio by 0.5% in the second quarter. The Manufacturers Life Insurance Company now owns 31,433 shares of the biotechnology company’s stock valued at $3,302,000 after purchasing an additional 151 shares during the last quarter. Finally, Alpine Global Management LLC bought a new stake in bluebird bio in the second quarter valued at about $410,000.
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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