Several other equities analysts have also recently weighed in on the stock. Cantor Fitzgerald cut shares of Bluebird Bio from a hold rating to a sell rating and dropped their price target for the company from $65.24 to $37.00 in a research report on Friday, October 14th. SunTrust Banks Inc. reaffirmed a buy rating on shares of Bluebird Bio in a research report on Friday, October 14th. Piper Jaffray Cos. set a $95.00 price target on shares of Bluebird Bio and gave the company a buy rating in a research report on Thursday, October 13th. Zacks Investment Research cut shares of Bluebird Bio from a hold rating to a sell rating in a research report on Wednesday, October 5th. Finally, Jefferies Group reaffirmed a buy rating and issued a $80.00 price target on shares of Bluebird Bio in a research report on Friday, September 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the company. Bluebird Bio has an average rating of Buy and a consensus price target of $91.60.
Shares of Bluebird Bio (NASDAQ:BLUE) opened at 54.90 on Friday. Bluebird Bio has a one year low of $35.37 and a one year high of $99.70. The company’s market cap is $2.04 billion. The stock’s 50 day moving average price is $63.92 and its 200-day moving average price is $51.26.
Bluebird Bio (NASDAQ:BLUE) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported ($1.59) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.44) by $0.15. Bluebird Bio had a negative net margin of 3,512.13% and a negative return on equity of 24.85%. The business earned $1.55 million during the quarter, compared to the consensus estimate of $2.01 million. During the same period in the previous year, the business posted ($1.57) EPS. Bluebird Bio’s revenue was down 68.6% compared to the same quarter last year. On average, analysts expect that Bluebird Bio will post ($6.19) EPS for the current year.
In related news, insider Eric Sullivan sold 416 shares of Bluebird Bio stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $67.00, for a total value of $27,872.00. Following the completion of the transaction, the insider now directly owns 5,891 shares in the company, valued at approximately $394,697. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.50% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Seven Eight Capital LLC acquired a new position in Bluebird Bio during the first quarter worth $108,000. Quantbot Technologies LP raised 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 in the last quarter. First Mercantile Trust Co. acquired a new position in Bluebird Bio during the third quarter worth $129,000. BlackRock Inc. raised its position in Bluebird Bio by 341.0% in the first quarter. BlackRock Inc. now owns 4,569 shares of the company’s stock worth $194,000 after buying an additional 3,533 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised 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 in the last quarter.
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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