Zacks Investment Research Downgrades Bluebird Bio Inc. (BLUE) to Sell
According to Zacks, “Bluebird Bio, Inc. is a biotechnology company. It focuses on the development, manufacture and marketing of therapies for severe genetic disorders such as childhood cerebral adrenoleukodystrophy, neurodegenerative disorders and beta-thalassemia. The company operates in the U.S. and Europe. Bluebird Bio, Inc. is headquartered in Cambridge, Massachusetts. “
BLUE has been the topic of several other reports. Maxim Group reaffirmed a buy rating and issued a $85.00 target price on shares of Bluebird Bio in a research report on Monday, September 12th. Cowen and Company reissued an outperform rating on shares of Bluebird Bio in a report on Friday, September 9th. Wedbush reissued an outperform rating and set a $117.00 price target on shares of Bluebird Bio in a report on Monday, October 3rd. Roth Capital began coverage on Bluebird Bio in a report on Thursday, September 22nd. They set a buy rating and a $87.00 price target on the stock. Finally, BTIG Research reissued a buy rating and set a $72.00 price target on shares of Bluebird Bio in a report on Sunday, September 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $90.25.
Bluebird Bio (NASDAQ:BLUE) opened at 73.59 on Wednesday. The firm’s market cap is $2.74 billion. Bluebird Bio has a 52 week low of $35.37 and a 52 week high of $99.70. The company has a 50-day moving average of $62.35 and a 200 day moving average of $50.46.
Bluebird Bio (NASDAQ:BLUE) last issued its earnings results on Wednesday, August 3rd. The company reported ($1.59) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.44) by $0.15. Bluebird Bio had a negative return on equity of 24.85% and a negative net margin of 3,512.13%. The company earned $1.55 million during the quarter, compared to analyst estimates of $2.01 million. During the same period in the prior year, the business earned ($1.57) earnings per share. Bluebird Bio’s quarterly revenue was down 68.6% on a year-over-year basis. On average, equities analysts predict that Bluebird Bio will post ($6.19) earnings per share for the current year.
In related news, insider Eric Sullivan sold 416 shares of the stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $67.00, for a total value of $27,872.00. Following the completion of the sale, the insider now directly owns 5,891 shares of the company’s stock, valued at approximately $394,697. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider David Davidson sold 1,000 shares of the stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $45.08, for a total value of $45,080.00. Following the completion of the sale, the insider now directly owns 10,600 shares of the company’s stock, valued at $477,848. The disclosure for this sale can be found here. 3.50% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in the company. Baillie Gifford & Co. increased its stake in shares of Bluebird Bio by 1.5% in the second quarter. Baillie Gifford & Co. now owns 5,054,175 shares of the company’s stock valued at $218,795,000 after buying an additional 76,538 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Bluebird Bio by 14.2% in the second quarter. Vanguard Group Inc. now owns 2,680,871 shares of the company’s stock valued at $116,055,000 after buying an additional 333,396 shares in the last quarter. State Street Corp increased its stake in shares of Bluebird Bio by 41.4% in the second quarter. State Street Corp now owns 1,699,977 shares of the company’s stock valued at $73,592,000 after buying an additional 498,041 shares in the last quarter. BlackRock Fund Advisors increased its stake in shares of Bluebird Bio by 80.0% in the second quarter. BlackRock Fund Advisors now owns 1,386,229 shares of the company’s stock valued at $60,010,000 after buying an additional 616,095 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new stake in shares of Bluebird Bio during the first quarter valued at about $51,095,000.
About Bluebird Bio
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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