bluebird bio (NASDAQ:BLUE) had its target price dropped by stock analysts at Morgan Stanley from $136.00 to $104.00 in a report issued on Friday, BenzingaRatingsTable reports. The firm currently has an “equal weight” rating on the biotechnology company’s stock. Morgan Stanley’s price target points to a potential upside of 17.99% from the company’s current price.

Other analysts have also recently issued research reports about the stock. Maxim Group raised shares of bluebird bio from a “hold” rating to a “buy” rating and set a $160.00 price target on the stock in a research report on Tuesday, June 18th. William Blair reissued a “hold” rating on shares of bluebird bio in a research report on Wednesday, September 18th. BidaskClub raised shares of bluebird bio from a “strong sell” rating to a “sell” rating in a research report on Tuesday, September 17th. Gabelli reissued a “buy” rating on shares of bluebird bio in a research report on Friday, July 19th. Finally, ValuEngine cut shares of bluebird bio from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. bluebird bio currently has a consensus rating of “Buy” and a consensus price target of $149.31.

Shares of bluebird bio stock traded down $1.17 during trading on Friday, reaching $88.14. The stock had a trading volume of 447,396 shares, compared to its average volume of 843,055. The company has a market capitalization of $4.94 billion, a price-to-earnings ratio of -8.25 and a beta of 2.23. The stock has a fifty day moving average price of $99.41 and a two-hundred day moving average price of $124.53. bluebird bio has a 52 week low of $84.01 and a 52 week high of $163.43. The company has a current ratio of 8.02, a quick ratio of 8.02 and a debt-to-equity ratio of 0.11.

bluebird bio (NASDAQ:BLUE) last issued its quarterly earnings results on Thursday, August 1st. The biotechnology company reported ($3.55) EPS for the quarter, missing analysts’ consensus estimates of ($3.04) by ($0.51). bluebird bio had a negative net margin of 1,158.04% and a negative return on equity of 35.90%. The firm had revenue of $13.30 million during the quarter, compared to the consensus estimate of $13.13 million. During the same quarter last year, the firm earned ($2.91) earnings per share. The business’s revenue for the quarter was up 68.4% on a year-over-year basis. On average, equities analysts forecast that bluebird bio will post -13.35 EPS for the current fiscal year.

In related news, insider David Davidson sold 2,060 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $100.16, for a total transaction of $206,329.60. Following the sale, the insider now directly owns 34,616 shares in the company, valued at $3,467,138.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Philip D. Gregory sold 950 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $124.03, for a total transaction of $117,828.50. Following the sale, the insider now owns 31,042 shares in the company, valued at $3,850,139.26. The disclosure for this sale can be found here. Insiders have sold 5,460 shares of company stock worth $593,836 over the last 90 days. Insiders own 3.00% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. FMR LLC increased its stake in shares of bluebird bio by 0.5% during the first quarter. FMR LLC now owns 8,242,676 shares of the biotechnology company’s stock worth $1,296,820,000 after buying an additional 38,515 shares during the period. Invesco Ltd. increased its stake in bluebird bio by 898.6% in the second quarter. Invesco Ltd. now owns 1,053,942 shares of the biotechnology company’s stock valued at $134,061,000 after purchasing an additional 948,400 shares during the last quarter. First Trust Advisors LP increased its stake in bluebird bio by 10.3% in the second quarter. First Trust Advisors LP now owns 842,121 shares of the biotechnology company’s stock valued at $107,118,000 after purchasing an additional 78,813 shares during the last quarter. Victory Capital Management Inc. increased its stake in bluebird bio by 29.5% in the second quarter. Victory Capital Management Inc. now owns 752,300 shares of the biotechnology company’s stock valued at $95,693,000 after purchasing an additional 171,555 shares during the last quarter. Finally, Marshall Wace North America L.P. purchased a new position in bluebird bio in the first quarter valued at approximately $74,883,000.

bluebird bio Company Profile

bluebird bio, Inc, a clinical-stage biotechnology company, focuses on developing transformative gene therapies for severe genetic diseases and cancer. Its product candidates in severe genetic diseases include LentiGlobin, which is in various clinical studies for the treatment of transfusion-dependent ß-thalassemia and severe sickle cell disease; and Lenti-D that is in Phase II/III clinical trials for the treatment of cerebral adrenoleukodystrophy, a rare hereditary neurological disorder.

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Analyst Recommendations for bluebird bio (NASDAQ:BLUE)

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