Bluebird Bio Inc. (NASDAQ:BLUE)‘s stock had its “outperform” rating restated by equities research analysts at Wedbush in a research note issued to investors on Monday. They presently have a $117.00 price objective on the stock. Wedbush’s target price indicates a potential upside of 68.22% from the stock’s current price.
Several other equities research analysts also recently weighed in on BLUE. Maxim Group set a $85.00 price target on Bluebird Bio and gave the stock a “buy” rating in a research report on Thursday, September 22nd. Leerink Swann reaffirmed a “buy” rating on shares of Bluebird Bio in a research report on Monday, June 13th. Vetr downgraded Bluebird Bio from a “strong-buy” rating to a “sell” rating and set a $44.44 price target on the stock. in a research report on Wednesday, June 8th. Piper Jaffray Cos. set a $95.00 price target on Bluebird Bio and gave the stock a “buy” rating in a research report on Thursday, September 8th. Finally, Cowen and Company reaffirmed an “outperform” rating on shares of Bluebird Bio in a research report on Friday, September 9th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Bluebird Bio has a consensus rating of “Buy” and a consensus price target of $90.25.
Shares of Bluebird Bio (NASDAQ:BLUE) opened at 69.55 on Monday. Bluebird Bio has a 52-week low of $35.37 and a 52-week high of $99.70. The stock’s market capitalization is $2.59 billion. The company has a 50 day moving average price of $60.55 and a 200-day moving average price of $49.62.
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 consensus estimate of ($1.44) by $0.15. The company had revenue of $1.55 million for the quarter, compared to analyst estimates of $2.01 million. Bluebird Bio had a negative return on equity of 24.85% and a negative net margin of 3,512.13%. Bluebird Bio’s revenue for the quarter was down 68.6% on a year-over-year basis. During the same period in the prior year, the business posted ($1.57) earnings per share. On average, analysts predict that Bluebird Bio will post ($6.18) earnings per share for the current fiscal year.
In other Bluebird Bio news, insider Eric Sullivan sold 2,912 shares of the firm’s stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $55.01, for a total value of $160,189.12. Following the transaction, the insider now directly owns 4,456 shares of the company’s stock, valued at approximately $245,124.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David Davidson sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $45.08, for a total transaction of $45,080.00. Following the completion of the transaction, the insider now directly owns 10,600 shares in the company, valued at $477,848. The disclosure for this sale can be found here. 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 BLUE. AXA raised its position in Bluebird Bio by 19.3% in the first quarter. AXA now owns 148,851 shares of the company’s stock worth $6,326,000 after buying an additional 24,053 shares during the period. UBS Asset Management Americas Inc. raised its position in Bluebird Bio by 0.8% in the first quarter. UBS Asset Management Americas Inc. now owns 157,666 shares of the company’s stock worth $6,701,000 after buying an additional 1,194 shares during the period. State Street Corp raised its position in Bluebird Bio by 25.9% in the first quarter. State Street Corp now owns 1,201,936 shares of the company’s stock worth $51,088,000 after buying an additional 247,254 shares during the period. OMERS ADMINISTRATION Corp raised its position in Bluebird Bio by 1.7% in the first quarter. OMERS ADMINISTRATION Corp now owns 6,000 shares of the company’s stock worth $255,000 after buying an additional 100 shares during the period. Finally, RTW Investments LLC acquired a new position in Bluebird Bio during the first quarter worth $9,621,000.
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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