bluebird bio, Inc. (BLUE) Price Target Raised to $163.00 at SunTrust Banks, Inc.
bluebird bio, Inc. (NASDAQ:BLUE) had its price objective hoisted by SunTrust Banks, Inc. from $108.00 to $163.00 in a research report report published on Friday morning. They currently have a buy rating on the biotechnology company’s stock.
Other equities analysts have also issued research reports about the company. Wedbush reaffirmed an outperform rating and issued a $174.00 price objective (up previously from $135.00) on shares of bluebird bio in a research note on Thursday, November 2nd. Zacks Investment Research lowered bluebird bio from a buy rating to a hold rating in a research note on Tuesday, July 18th. Cantor Fitzgerald reaffirmed a sell rating and issued a $39.00 price objective on shares of bluebird bio in a research note on Thursday, September 28th. Evercore ISI raised bluebird bio from an in-line rating to an outperform rating and set a $102.00 price objective for the company in a research note on Monday, October 16th. Finally, BMO Capital Markets upped their price objective on bluebird bio from $134.00 to $162.00 and gave the stock a buy rating in a research note on Monday, October 30th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the stock. bluebird bio presently has a consensus rating of Buy and an average price target of $131.05.
bluebird bio (BLUE) traded down $11.50 during mid-day trading on Friday, hitting $144.75. The stock had a trading volume of 1,357,877 shares, compared to its average volume of 915,844. bluebird bio has a 52-week low of $43.05 and a 52-week high of $164.80.
bluebird bio (NASDAQ:BLUE) last released its quarterly earnings results on Wednesday, November 1st. The biotechnology company reported ($1.73) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.68) by ($0.05). bluebird bio had a negative net margin of 883.18% and a negative return on equity of 28.79%. The company had revenue of $7.71 million for the quarter, compared to the consensus estimate of $8.47 million. During the same period in the prior year, the firm posted ($2.07) EPS. The business’s revenue for the quarter was up 397.4% on a year-over-year basis. research analysts expect that bluebird bio will post -6.76 EPS for the current fiscal year.
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In related news, insider Nick Leschly sold 46,833 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $122.27, for a total value of $5,726,270.91. Following the completion of the transaction, the insider now owns 289,368 shares in the company, valued at approximately $35,381,025.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeffrey T. Walsh sold 35,000 shares of the firm’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $151.38, for a total value of $5,298,300.00. Following the completion of the transaction, the insider now owns 62,305 shares of the company’s stock, valued at approximately $9,431,730.90. The disclosure for this sale can be found here. Insiders sold a total of 185,518 shares of company stock valued at $24,292,373 in the last three months. Insiders own 3.90% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Parametric Portfolio Associates LLC increased its stake in shares of bluebird bio by 11.5% in the 1st quarter. Parametric Portfolio Associates LLC now owns 22,743 shares of the biotechnology company’s stock valued at $2,067,000 after purchasing an additional 2,338 shares in the last quarter. Legal & General Group Plc increased its stake in shares of bluebird bio by 2.6% in the 1st quarter. Legal & General Group Plc now owns 13,944 shares of the biotechnology company’s stock valued at $1,272,000 after purchasing an additional 357 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of bluebird bio by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 3,215,246 shares of the biotechnology company’s stock valued at $292,266,000 after purchasing an additional 141,293 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of bluebird bio by 24.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 84,961 shares of the biotechnology company’s stock valued at $7,723,000 after purchasing an additional 16,741 shares in the last quarter. Finally, BlackRock Inc. increased its stake in shares of bluebird bio by 44,948.0% in the 1st quarter. BlackRock Inc. now owns 3,182,188 shares of the biotechnology company’s stock valued at $289,259,000 after purchasing an additional 3,175,124 shares in the last quarter.
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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