Bluebird Bio Inc. (NASDAQ:BLUE)‘s stock had its “buy” rating restated by equities research analysts at Jefferies Group in a note issued to investors on Friday. They currently have a $80.00 price objective on the stock. Jefferies Group’s target price points to a potential upside of 12.25% from the stock’s previous close.
A number of other equities research analysts also recently commented on BLUE. Wedbush reiterated an “outperform” rating and issued a $117.00 target price on shares of Bluebird Bio in a research report on Wednesday, August 3rd. Goldman Sachs Group Inc. reiterated a “buy” rating and issued a $135.00 target price on shares of Bluebird Bio in a research report on Thursday, September 8th. Leerink Swann reiterated a “buy” rating on shares of Bluebird Bio in a research report on Monday, June 13th. Piper Jaffray Cos. set a $95.00 target price on Bluebird Bio and gave the stock a “buy” rating in a research report on Thursday, September 8th. Finally, Vetr downgraded Bluebird Bio from a “strong-buy” rating to a “sell” rating and set a $44.44 target price on the stock. in a research report on Wednesday, June 8th. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $89.17.
Shares of Bluebird Bio (NASDAQ:BLUE) opened at 71.27 on Friday. Bluebird Bio has a 12 month low of $35.37 and a 12 month high of $106.95. The stock has a 50 day moving average price of $58.31 and a 200-day moving average price of $48.61. The company’s market capitalization is $2.65 billion.
Bluebird Bio (NASDAQ:BLUE) last released its quarterly earnings data on Wednesday, August 3rd. The company reported ($1.59) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.44) by $0.15. The business earned $1.55 million during the quarter, compared to the consensus estimate 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 business’s revenue was down 68.6% on a year-over-year basis. During the same period last year, the company earned ($1.57) EPS. Analysts expect that Bluebird Bio will post ($6.18) earnings per share for the current fiscal year.
In related news, insider Eric Sullivan sold 2,807 shares of the stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $45.04, for a total value of $126,427.28. Following the transaction, the insider now owns 4,656 shares of the company’s stock, valued at $209,706.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider David Davidson sold 1,000 shares of the stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $45.08, for a total value of $45,080.00. Following the completion of the transaction, the insider now directly owns 10,600 shares in the company, valued at approximately $477,848. The disclosure for this sale can be found here. 3.50% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP bought a new stake in shares of Bluebird Bio during the first quarter valued at about $51,095,000. BlackRock Inc. boosted its stake in shares of Bluebird Bio by 341.0% in the first quarter. BlackRock Inc. now owns 4,569 shares of the company’s stock valued at $194,000 after buying an additional 3,533 shares during the period. California State Teachers Retirement System boosted its stake in shares of Bluebird Bio by 2.2% in the second quarter. California State Teachers Retirement System now owns 77,687 shares of the company’s stock valued at $3,363,000 after buying an additional 1,682 shares during the period. Iguana Healthcare Management LLC bought a new stake in shares of Bluebird Bio during the first quarter valued at about $1,030,000. Finally, Swiss National Bank boosted its stake in shares of Bluebird Bio by 10.6% in the second quarter. Swiss National Bank now owns 59,707 shares of the company’s stock valued at $2,585,000 after buying an additional 5,700 shares during the period.
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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