Canaccord Genuity initiated coverage on shares of bluebird bio (NASDAQ:BLUE) in a report issued on Tuesday morning, Marketbeat.com reports. The firm issued a buy rating and a $202.00 target price on the biotechnology company’s stock.

Several other analysts have also weighed in on BLUE. Morgan Stanley lifted their price objective on shares of bluebird bio from $103.00 to $105.00 and gave the company an equal weight rating in a research note on Monday, August 7th. BidaskClub upgraded shares of bluebird bio from a sell rating to a hold rating in a research note on Wednesday, August 9th. Jefferies Group reiterated a buy rating and issued a $88.00 price objective on shares of bluebird bio in a research note on Friday, August 11th. Evercore ISI started coverage on shares of bluebird bio in a research note on Wednesday, August 16th. They issued an in-line rating and a $102.00 price objective for the company. Finally, Cowen reiterated an outperform rating on shares of bluebird bio in a research note on Thursday, August 31st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the company. The company has a consensus rating of Hold and an average price target of $138.45.

bluebird bio (NASDAQ BLUE) traded up $8.50 during trading on Tuesday, reaching $167.90. 770,200 shares of the company’s stock traded hands, compared to its average volume of 825,719. bluebird bio has a 52-week low of $60.95 and a 52-week high of $174.65.

bluebird bio (NASDAQ:BLUE) last released its quarterly earnings results on Wednesday, November 1st. The biotechnology company reported ($1.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.68) by ($0.05). bluebird bio had a negative return on equity of 28.79% and a negative net margin of 883.18%. The firm had revenue of $7.71 million for the quarter, compared to the consensus estimate of $8.47 million. During the same quarter in the previous year, the business posted ($2.07) EPS. The firm’s revenue for the quarter was up 397.4% compared to the same quarter last year. sell-side analysts forecast that bluebird bio will post -6.68 earnings per share for the current year.

In related news, COO Susanna Gatti High sold 1,282 shares of bluebird bio stock in a transaction on Friday, December 1st. The shares were sold at an average price of $172.15, for a total value of $220,696.30. Following the completion of the sale, the chief operating officer now owns 13,718 shares of the company’s stock, valued at approximately $2,361,553.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Jeffrey T. Walsh sold 4,900 shares of bluebird bio stock in a transaction on Monday, September 11th. The shares were sold at an average price of $125.73, for a total transaction of $616,077.00. Following the completion of the sale, the insider now directly owns 32,205 shares of the company’s stock, valued at approximately $4,049,134.65. The disclosure for this sale can be found here. In the last three months, insiders sold 110,450 shares of company stock valued at $15,790,373. 3.90% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of BLUE. FMR LLC boosted its holdings in bluebird bio by 9.6% during the 2nd quarter. FMR LLC now owns 6,713,949 shares of the biotechnology company’s stock worth $705,301,000 after acquiring an additional 587,236 shares during the last quarter. Capital Research Global Investors boosted its holdings in bluebird bio by 9.9% during the 2nd quarter. Capital Research Global Investors now owns 5,483,117 shares of the biotechnology company’s stock worth $576,001,000 after acquiring an additional 493,072 shares during the last quarter. Vanguard Group Inc. boosted its holdings in bluebird bio by 10.7% during the 2nd quarter. Vanguard Group Inc. now owns 3,559,102 shares of the biotechnology company’s stock worth $373,884,000 after acquiring an additional 343,856 shares during the last quarter. Eagle Asset Management Inc. purchased a new position in bluebird bio during the 3rd quarter worth $29,539,000. Finally, American Century Companies Inc. purchased a new position in bluebird bio during the 3rd quarter worth $31,170,000.

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bluebird bio Company Profile

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).

Analyst Recommendations for bluebird bio (NASDAQ:BLUE)

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