Bluebird Bio Inc. (BLUE) Rating Reiterated by SunTrust Banks Inc.
Bluebird Bio Inc. (NASDAQ:BLUE)‘s stock had its “buy” rating reiterated by stock analysts at SunTrust Banks Inc. in a note issued to investors on Friday.
A number of other brokerages also recently commented on BLUE. Wedbush reissued an “outperform” rating and issued a $117.00 price objective on shares of Bluebird Bio in a research report on Wednesday, August 3rd. Goldman Sachs Group Inc. reissued a “buy” rating and issued a $135.00 price objective on shares of Bluebird Bio in a research report on Thursday, September 8th. Maxim Group set a $100.00 price objective on shares of Bluebird Bio and gave the company a “buy” rating in a research report on Thursday, September 29th. Leerink Swann reissued a “buy” rating on shares of Bluebird Bio in a research report on Friday, September 9th. Finally, Piper Jaffray Cos. set a $95.00 price objective on shares of Bluebird Bio and gave the company a “buy” rating in a research report on Thursday, September 8th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $91.60.
Bluebird Bio (NASDAQ:BLUE) opened at 55.50 on Friday. The company’s 50-day moving average is $63.83 and its 200-day moving average is $51.18. The firm’s market capitalization is $2.06 billion. Bluebird Bio has a 52-week low of $35.37 and a 52-week high of $99.70.
Bluebird Bio (NASDAQ:BLUE) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported ($1.59) EPS for the quarter, missing the Zacks’ 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 firm earned $1.55 million during the quarter, compared to analysts’ expectations of $2.01 million. During the same period in the prior year, the company posted ($1.57) earnings per share. The company’s revenue for the quarter was down 68.6% on a year-over-year basis. On average, analysts predict that Bluebird Bio will post ($6.19) EPS for the current year.
In other news, insider Eric Sullivan sold 416 shares of the firm’s stock in a transaction on Monday, October 3rd. The shares were 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 owns 5,891 shares in the company, valued at approximately $394,697. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.50% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the company. First Mercantile Trust Co. purchased a new stake in Bluebird Bio during the third quarter valued at approximately $129,000. Seven Eight Capital LLC purchased a new stake in Bluebird Bio during the first quarter valued at approximately $108,000. Quantbot Technologies LP increased its position in shares of Bluebird Bio by 431.3% in the second quarter. Quantbot Technologies LP now owns 2,848 shares of the company’s stock worth $123,000 after buying an additional 2,312 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Bluebird Bio by 110.5% in the third quarter. BNP Paribas Arbitrage SA now owns 3,084 shares of the company’s stock worth $209,000 after buying an additional 1,619 shares in the last quarter. Finally, Amalgamated Bank bought a new position in shares of Bluebird Bio during the second quarter worth about $222,000.
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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