Bluebird Bio Inc. (BLUE) Given “Buy” Rating at BTIG Research
Bluebird Bio Inc. (NASDAQ:BLUE)‘s stock had its “buy” rating reiterated by research analysts at BTIG Research in a report issued on Saturday. They presently have a $83.00 price target on the stock, up from their prior price target of $72.00. BTIG Research’s price objective would indicate a potential upside of 46.72% from the stock’s previous close.
BLUE has been the subject of several other reports. Maxim Group reissued a “buy” rating and set a $85.00 price objective on shares of Bluebird Bio in a 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 objective on shares of Bluebird Bio in a report on Monday, October 3rd. Zacks Investment Research cut shares of Bluebird Bio from a “hold” rating to a “sell” rating in a report on Wednesday, October 5th. Finally, Roth Capital assumed coverage on shares of Bluebird Bio in a research report on Thursday, September 22nd. They set a “buy” rating and a $87.00 target price for the company. Two analysts have rated the stock with a sell rating, three have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $91.60.
Bluebird Bio (NASDAQ:BLUE) traded down 13.29% during mid-day trading on Friday, reaching $56.57. 4,144,106 shares of the company’s stock traded hands. Bluebird Bio has a 12-month low of $35.37 and a 12-month high of $99.70. The stock has a 50 day moving average of $63.71 and a 200 day moving average of $50.93. The company’s market cap is $2.10 billion.
Bluebird Bio (NASDAQ:BLUE) last released its quarterly earnings data on Wednesday, August 3rd. The company reported ($1.59) earnings per share for the quarter, missing the consensus estimate of ($1.44) by $0.15. Bluebird Bio had a negative net margin of 3,512.13% and a negative return on equity of 24.85%. The company had revenue of $1.55 million for the quarter, compared to analysts’ expectations of $2.01 million. During the same period in the previous year, the firm earned ($1.57) earnings per share. The firm’s revenue for the quarter was down 68.6% on a year-over-year basis. On average, equities research analysts predict that Bluebird Bio will post ($6.19) earnings per share for the current fiscal year.
In related news, insider Eric Sullivan sold 2,912 shares of the company’s stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $55.01, for a total transaction of $160,189.12. Following the sale, the insider now owns 4,456 shares of the company’s stock, valued at $245,124.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 3.50% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in BLUE. Wellington Management Group LLP acquired a new stake in Bluebird Bio during the first quarter worth about $51,095,000. BlackRock Fund Advisors increased its stake in Bluebird Bio by 80.0% in the second quarter. BlackRock Fund Advisors now owns 1,386,229 shares of the company’s stock worth $60,010,000 after buying an additional 616,095 shares during the last quarter. State Street Corp increased its stake in Bluebird Bio by 41.4% in the second quarter. State Street Corp now owns 1,699,977 shares of the company’s stock worth $73,592,000 after buying an additional 498,041 shares during the last quarter. RTW Investments LLC increased its stake in Bluebird Bio by 170.4% in the second quarter. RTW Investments LLC now owns 612,025 shares of the company’s stock worth $26,495,000 after buying an additional 385,654 shares during the last quarter. Finally, Deerfield Management Co. acquired a new stake in Bluebird Bio during the second quarter worth about $14,636,000.
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.
Receive News & Ratings for Bluebird Bio Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bluebird Bio Inc. and related companies with MarketBeat.com's FREE daily email newsletter.