Standpoint Research Reiterates Reduce Rating for bluebird bio, Inc. (BLUE)
bluebird bio, Inc. (NASDAQ:BLUE)‘s stock had its “reduce” rating restated by analysts at Standpoint Research in a research report issued to clients and investors on Friday, MarketBeat reports. They presently have a $110.00 target price on the biotechnology company’s stock. Standpoint Research’s price target points to a potential downside of 2.35% from the stock’s previous close.
Several other equities analysts also recently weighed in on BLUE. BMO Capital Markets reiterated a “market perform” rating and set a $83.00 target price on shares of bluebird bio in a research report on Thursday, February 23rd. Roth Capital set a $71.00 target price on bluebird bio and gave the stock a “hold” rating in a research report on Thursday, February 23rd. Maxim Group downgraded bluebird bio from a “buy” rating to a “hold” rating and set a $87.00 target price on the stock. in a research report on Monday, February 27th. They noted that the move was a valuation call. Morgan Stanley increased their target price on bluebird bio from $58.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 1st. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $88.00 target price on shares of bluebird bio in a research report on Friday, March 24th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $94.61.
bluebird bio (NASDAQ BLUE) opened at 112.65 on Friday. bluebird bio has a 12-month low of $36.62 and a 12-month high of $116.90. The stock’s market cap is $4.61 billion. The stock’s 50 day moving average price is $92.25 and its 200 day moving average price is $81.66.
bluebird bio (NASDAQ:BLUE) last issued its quarterly earnings data on Wednesday, May 3rd. The biotechnology company reported ($1.68) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.76) by $0.08. bluebird bio had a negative return on equity of 35.17% and a negative net margin of 2,402.03%. The business had revenue of $6.83 million for the quarter, compared to the consensus estimate of $1.51 million. Analysts forecast that bluebird bio will post ($6.74) EPS for the current fiscal year.
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In other bluebird bio news, Director Daniel Lynch sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 27th. The stock was sold at an average price of $90.01, for a total transaction of $90,010.00. Following the completion of the sale, the director now owns 2,400 shares in the company, valued at approximately $216,024. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jeffrey T. Walsh sold 1,250 shares of the firm’s stock in a transaction that occurred on Monday, April 10th. The shares were sold at an average price of $87.38, for a total value of $109,225.00. Following the sale, the insider now owns 28,555 shares of the company’s stock, valued at approximately $2,495,135.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,258 shares of company stock valued at $3,263,236. 3.90% of the stock is owned by insiders.
A number of large investors have recently modified their holdings of BLUE. Advantage Investment Management LLC acquired a new stake in shares of bluebird bio during the fourth quarter worth $159,000. First Mercantile Trust Co. raised its stake in shares of bluebird bio by 14.4% in the first quarter. First Mercantile Trust Co. now owns 2,897 shares of the biotechnology company’s stock worth $263,000 after buying an additional 365 shares during the period. Berkeley Capital Partners LLC acquired a new stake in shares of bluebird bio during the first quarter worth $282,000. Teacher Retirement System of Texas acquired a new stake in shares of bluebird bio during the first quarter worth $291,000. Finally, Two Sigma Securities LLC acquired a new stake in shares of bluebird bio during the first quarter worth $304,000.
About bluebird bio
bluebird bio, Inc is a clinical-stage biotechnology company. The Company is focused on developing gene therapies for severe diseases and cancer. With its lentiviral-based gene therapy and gene editing capabilities, it has built an integrated product platform with various applications in these areas. The Company’s clinical programs in severe genetic diseases include its LentiGlobin product candidate to treat transfusion-dependent b-thalassemia and to treat severe sickle cell disease (SCD) and its Lenti-D product candidate to treat cerebral adrenoleukodystrophy (CALD).
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