Bluebird Bio Inc. (BLUE) Rating Reiterated by Wedbush
Bluebird Bio Inc. (NASDAQ:BLUE)‘s stock had its “outperform” rating restated by analysts at Wedbush in a report issued on Friday. They currently have a $117.00 price objective on the stock. Wedbush’s price objective points to a potential upside of 110.81% from the stock’s current price.
Several other equities analysts have also recently weighed in on BLUE. Vetr upgraded Bluebird Bio from a “buy” rating to a “strong-buy” rating and set a $44.44 price objective on the stock in a research note on Monday, June 27th. BTIG Research reaffirmed a “buy” rating and set a $72.00 target price on shares of Bluebird Bio in a research report on Wednesday, June 29th. Jefferies Group reaffirmed a “buy” rating and set a $80.00 target price on shares of Bluebird Bio in a research report on Friday, July 8th. Maxim Group reaffirmed a “buy” rating and set a $85.00 target price (down from $105.00) on shares of Bluebird Bio in a research report on Thursday, August 4th. Finally, Leerink Swann reaffirmed an “outperform” rating and set a $67.00 target price on shares of Bluebird Bio in a research report on Thursday, August 4th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and fourteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $91.60.
Shares of 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. Bluebird Bio has a 52-week low of $35.37 and a 52-week high of $99.70. The company’s market cap is $2.06 billion.
Bluebird Bio (NASDAQ:BLUE) last issued 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 the consensus estimate of $2.01 million. During the same quarter last year, the business posted ($1.57) earnings per share. Bluebird Bio’s revenue was down 68.6% on a year-over-year basis. On average, analysts anticipate that Bluebird Bio will post ($6.19) EPS for the current year.
In other news, insider Eric Sullivan sold 2,912 shares of Bluebird Bio stock in a transaction dated Wednesday, July 27th. The stock was sold at an average price of $55.01, for a total transaction of $160,189.12. Following the completion of the sale, the insider now owns 4,456 shares in the company, valued at approximately $245,124.56. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 3.50% of the company’s stock.
Several hedge funds have recently modified their holdings of BLUE. Wellington Management Group LLP acquired a new stake in shares of Bluebird Bio during the first quarter worth about $51,095,000. BlackRock Inc. increased its stake in shares of Bluebird Bio by 341.0% in the first quarter. BlackRock Inc. now owns 4,569 shares of the company’s stock worth $194,000 after buying an additional 3,533 shares during the period. California State Teachers Retirement System increased its stake in shares of Bluebird Bio by 2.2% in the second quarter. California State Teachers Retirement System now owns 77,687 shares of the company’s stock worth $3,363,000 after buying an additional 1,682 shares during the period. Swiss National Bank increased its stake in shares of Bluebird Bio by 10.6% in the second quarter. Swiss National Bank now owns 59,707 shares of the company’s stock worth $2,585,000 after buying an additional 5,700 shares during the period. Finally, Iguana Healthcare Management LLC acquired a new stake in shares of Bluebird Bio during the first quarter worth about $1,030,000.
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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