Shares of Bluebird Bio Inc. (NASDAQ:BLUE) saw unusually-strong trading volume on Friday after Leerink Swann raised their price target on the stock from $67.00 to $80.00. Leerink Swann currently has an outperform rating on the stock. Approximately 2,696,807 shares traded hands during trading, an increase of 69% from the previous session’s volume of 1,597,823 shares.The stock last traded at $57.38 and had previously closed at $65.24.
A number of other brokerages have also weighed in on BLUE. Wedbush reaffirmed an “outperform” rating and set a $117.00 target price on shares of Bluebird Bio in a research report on Wednesday, August 3rd. Goldman Sachs Group Inc. reaffirmed a “buy” rating and set a $135.00 target price on shares of Bluebird Bio in a research report on Thursday, September 8th. Maxim Group set a $100.00 target price on Bluebird Bio and gave the company a “buy” rating in a research report on Thursday, September 29th. Piper Jaffray Cos. set a $95.00 target price on Bluebird Bio and gave the company a “buy” rating in a research report on Thursday, September 8th. Finally, Vetr raised Bluebird Bio from a “buy” rating to a “strong-buy” rating and set a $44.44 target price for the company in a research report on Monday, June 27th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $90.82.
In related news, insider Eric Sullivan sold 2,807 shares of the company’s stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $45.04, for a total transaction of $126,427.28. Following the transaction, the insider now directly owns 4,656 shares of the company’s stock, valued at approximately $209,706.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Cupps Capital Management LLC acquired a new position in shares of Bluebird Bio during the third quarter valued at about $1,824,000. Gradient Investments LLC acquired a new position in shares of Bluebird Bio during the third quarter valued at about $333,000. First Mercantile Trust Co. acquired a new position in shares of Bluebird Bio during the third quarter valued at about $129,000. BNP Paribas Arbitrage SA raised its position in shares of Bluebird Bio by 110.5% in the third quarter. BNP Paribas Arbitrage SA now owns 3,084 shares of the company’s stock valued at $209,000 after buying an additional 1,619 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in shares of Bluebird Bio by 43.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 145,569 shares of the company’s stock valued at $6,302,000 after buying an additional 44,048 shares in the last quarter.
The stock’s 50-day moving average is $63.52 and its 200 day moving average is $50.81. The firm’s market cap is $2.12 billion.
Bluebird Bio (NASDAQ:BLUE) last released its quarterly earnings results on Wednesday, August 3rd. The company reported ($1.59) EPS for the quarter, missing the consensus estimate of ($1.44) by $0.15. Bluebird Bio had a negative return on equity of 24.85% and a negative net margin of 3,512.13%. The firm had revenue of $1.55 million for the quarter, compared to analysts’ expectations of $2.01 million. During the same quarter in the prior year, the business earned ($1.57) earnings per share. The company’s quarterly revenue was down 68.6% on a year-over-year basis. On average, equities research analysts predict that Bluebird Bio Inc. will post ($6.19) earnings per share for the current fiscal year.
About Bluebird Bio
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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