bluebird bio (NASDAQ:BLUE) had its price target decreased by stock analysts at Canaccord Genuity from $171.00 to $118.00 in a research report issued to clients and investors on Monday, The Fly reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock. Canaccord Genuity’s price target suggests a potential upside of 54.05% from the stock’s previous close.

Several other analysts have also recently issued reports on BLUE. Evercore ISI cut bluebird bio from an “outperform” rating to an “in-line” rating in a report on Wednesday, November 27th. Leerink Swann raised shares of bluebird bio from a “market perform” rating to an “outperform” rating and set a $119.00 target price for the company in a report on Tuesday, November 26th. Maxim Group restated a “buy” rating and issued a $130.00 price target on shares of bluebird bio in a research report on Friday, November 1st. Cowen reaffirmed a “buy” rating on shares of bluebird bio in a research note on Friday. Finally, BidaskClub raised shares of bluebird bio from a “strong sell” rating to a “sell” rating in a research note on Thursday, November 28th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $138.43.

Shares of BLUE stock opened at $76.60 on Monday. The company has a current ratio of 6.22, a quick ratio of 6.22 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $4.39 billion, a price-to-earnings ratio of -7.17 and a beta of 2.16. bluebird bio has a 12-month low of $71.42 and a 12-month high of $163.43. The stock’s 50-day moving average price is $79.67 and its 200-day moving average price is $106.34.

bluebird bio (NASDAQ:BLUE) last announced its quarterly earnings results on Thursday, October 31st. The biotechnology company reported ($3.73) EPS for the quarter, missing analysts’ consensus estimates of ($3.54) by ($0.19). The firm had revenue of $8.91 million for the quarter, compared to the consensus estimate of $12.47 million. bluebird bio had a negative net margin of 1,326.56% and a negative return on equity of 42.29%. During the same period in the previous year, the company posted ($2.73) earnings per share. bluebird bio’s quarterly revenue was down 22.7% on a year-over-year basis. As a group, research analysts predict that bluebird bio will post -14.06 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the company. Capital Investment Advisory Services LLC lifted its stake in bluebird bio by 100.0% in the second quarter. Capital Investment Advisory Services LLC now owns 200 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 100 shares during the last quarter. CSat Investment Advisory L.P. bought a new position in shares of bluebird bio in the second quarter worth about $31,000. Rational Advisors LLC grew its holdings in shares of bluebird bio by 532.3% in the third quarter. Rational Advisors LLC now owns 392 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 330 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in bluebird bio in the 2nd quarter worth about $47,000. Finally, NuWave Investment Management LLC lifted its holdings in bluebird bio by 398.7% during the 3rd quarter. NuWave Investment Management LLC now owns 788 shares of the biotechnology company’s stock valued at $71,000 after buying an additional 630 shares in the last quarter.

bluebird bio Company Profile

bluebird bio, Inc, a clinical-stage biotechnology company, focuses on developing transformative gene therapies for severe genetic diseases and cancer. Its product candidates in severe genetic diseases include LentiGlobin, which is in various clinical studies for the treatment of transfusion-dependent ß-thalassemia and severe sickle cell disease; and Lenti-D that is in Phase II/III clinical trials for the treatment of cerebral adrenoleukodystrophy, a rare hereditary neurological disorder.

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