Bluebird Bio Inc. (BLUE) Receives “Buy” Rating from Janney Montgomery Scott
Several other equities research analysts have also recently weighed in on the company. Roth Capital started coverage on Bluebird Bio in a research note on Thursday, September 22nd. They set a buy rating and a $87.00 price objective on the stock. Goldman Sachs Group Inc. raised Bluebird Bio from a buy rating to a conviction-buy rating and set a $135.00 price objective on the stock in a research note on Thursday, September 15th. Cantor Fitzgerald cut Bluebird Bio from a hold rating to a sell rating and reduced their price objective for the stock from $65.24 to $37.00 in a research note on Friday, October 14th. Leerink Swann boosted their price objective on Bluebird Bio from $67.00 to $80.00 and gave the stock an outperform rating in a research note on Friday, October 14th. Finally, Maxim Group restated a buy rating and set a $85.00 target price (down previously from $105.00) on shares of Bluebird Bio in a research report on Thursday, August 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Bluebird Bio has a consensus rating of Buy and an average price target of $82.82.
Shares of Bluebird Bio (NASDAQ:BLUE) opened at 64.40 on Thursday. The stock’s market capitalization is $2.40 billion. Bluebird Bio has a one year low of $35.37 and a one year high of $90.01. The company’s 50-day moving average price is $55.97 and its 200 day moving average price is $53.04.
Bluebird Bio (NASDAQ:BLUE) last issued its quarterly earnings data on Wednesday, November 2nd. The company reported ($2.07) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.59) by $0.48. Bluebird Bio had a negative return on equity of 30.79% and a negative net margin of 3,941.72%. The company had revenue of $1.55 million for the quarter, compared to the consensus estimate of $1.82 million. During the same period in the previous year, the firm earned ($1.18) earnings per share. The company’s revenue was up 17.4% compared to the same quarter last year. Analysts anticipate that Bluebird Bio will post ($7.05) EPS for the current year.
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In other news, insider Eric Sullivan sold 416 shares of the stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $67.00, for a total transaction 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 3.50% of the company’s stock.
Several hedge funds have recently modified their holdings of BLUE. Price T Rowe Associates Inc. MD raised its stake in shares of Bluebird Bio by 37.7% in the third quarter. Price T Rowe Associates Inc. MD now owns 3,365,797 shares of the company’s stock valued at $228,134,000 after buying an additional 921,416 shares in the last quarter. Cornerstone Capital Management Holdings LLC. raised its stake in shares of Bluebird Bio by 143.8% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 7,800 shares of the company’s stock valued at $528,000 after buying an additional 4,600 shares in the last quarter. Credit Suisse AG raised its stake in shares of Bluebird Bio by 9.3% in the third quarter. Credit Suisse AG now owns 101,322 shares of the company’s stock valued at $6,869,000 after buying an additional 8,656 shares in the last quarter. Chartwell Investment Partners LLC acquired a new stake in shares of Bluebird Bio during the third quarter valued at approximately $2,830,000. Finally, Baker BROS. Advisors LP acquired a new stake in shares of Bluebird Bio during the third quarter valued at approximately $19,923,000.
Bluebird Bio Company Profile
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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