BTIG Research reaffirmed their buy rating on shares of Bluebird Bio Inc. (NASDAQ:BLUE) in a research note issued to investors on Saturday. The brokerage currently has a $83.00 price objective on the stock, up from their previous price objective of $72.00.
Several other research analysts have also recently issued reports on BLUE. Vetr raised Bluebird Bio from a buy rating to a strong-buy rating and set a $44.44 target price on the stock in a research report on Monday, June 27th. Jefferies Group reaffirmed a buy rating and issued a $80.00 price objective on shares of Bluebird Bio in a research note on Friday, July 8th. Wedbush reaffirmed an outperform rating and issued a $117.00 price objective on shares of Bluebird Bio in a research note on Wednesday, August 3rd. Maxim Group reaffirmed a buy rating and issued a $85.00 price objective (down previously from $105.00) on shares of Bluebird Bio in a research note on Thursday, August 4th. Finally, Leerink Swann reaffirmed an outperform rating and issued a $67.00 price objective on shares of Bluebird Bio in a research note on Thursday, August 4th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Bluebird Bio has an average rating of Buy and an average price target of $91.60.
Shares of Bluebird Bio (NASDAQ:BLUE) traded down 13.29% during mid-day trading on Friday, reaching $56.57. The company’s stock had a trading volume of 4,144,106 shares. The company’s 50-day moving average price is $63.71 and its 200-day moving average price is $50.93. Bluebird Bio has a 12-month low of $35.37 and a 12-month high of $99.70. The stock’s market capitalization is $2.10 billion.
Bluebird Bio (NASDAQ:BLUE) last announced its earnings results on Wednesday, August 3rd. The company reported ($1.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.44) by $0.15. The firm earned $1.55 million during the quarter, compared to analysts’ expectations of $2.01 million. Bluebird Bio had a negative return on equity of 24.85% and a negative net margin of 3,512.13%. The company’s revenue for the quarter was down 68.6% on a year-over-year basis. During the same period in the previous year, the business posted ($1.57) earnings per share. On average, equities research analysts forecast that Bluebird Bio will post ($6.19) earnings per share for the current fiscal year.
In related news, insider Eric Sullivan sold 2,912 shares of the business’s stock in a transaction on 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 transaction, the insider now owns 4,456 shares in the company, valued at approximately $245,124.56. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 3.50% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. First Mercantile Trust Co. acquired a new position in Bluebird Bio during the third quarter worth about $129,000. Seven Eight Capital LLC acquired a new position in Bluebird Bio during the first quarter worth about $108,000. Quantbot Technologies LP boosted its position in Bluebird Bio by 431.3% in the second quarter. Quantbot Technologies LP now owns 2,848 shares of the company’s stock worth $123,000 after buying an additional 2,312 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in Bluebird Bio by 110.5% in the third quarter. BNP Paribas Arbitrage SA now owns 3,084 shares of the company’s stock worth $209,000 after buying an additional 1,619 shares during the last quarter. Finally, Amalgamated Bank acquired a new position in Bluebird Bio during the second quarter worth about $222,000.
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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