Bluebird Bio Inc. (NASDAQ:BLUE) was downgraded by Cantor Fitzgerald from a “hold” rating to a “sell” rating in a report released on Friday. They presently have a $37.00 price objective on the stock, down from their prior price objective of $65.24. Cantor Fitzgerald’s price target indicates a potential downside of 33.33% from the company’s current price.
A number of other equities analysts also recently issued reports 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 reiterated an “outperform” rating and set a $67.00 price target on shares of Bluebird Bio in a research report on Thursday, August 4th. Wedbush reiterated an “outperform” rating and set a $117.00 price target on shares of Bluebird Bio in a research report on Wednesday, August 3rd. Vetr upgraded Bluebird Bio from a “buy” rating to a “strong-buy” rating and set a $44.44 price target on the stock in a research report on Monday, June 27th. Finally, Zacks Investment Research downgraded Bluebird Bio from a “hold” rating to a “sell” rating in a research report on Wednesday, October 5th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $91.60.
Bluebird Bio (NASDAQ:BLUE) opened at 55.50 on Friday. The stock’s market cap is $2.06 billion. Bluebird Bio has a one year low of $35.37 and a one year high of $99.70. The stock has a 50 day moving average price of $63.83 and a 200-day moving average price of $51.18.
Bluebird Bio (NASDAQ:BLUE) last issued its earnings results on Wednesday, August 3rd. The company reported ($1.59) EPS for the quarter, missing analysts’ consensus estimates 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 company earned $1.55 million during the quarter, compared to analysts’ expectations of $2.01 million. During the same quarter in the previous year, the company earned ($1.57) EPS. The firm’s quarterly revenue was down 68.6% compared to the same quarter last year. Equities research analysts expect that Bluebird Bio will post ($6.19) earnings per share for the current fiscal year.
In other Bluebird Bio news, insider Eric Sullivan sold 416 shares of the firm’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $67.00, for a total transaction of $27,872.00. Following the completion of the sale, the insider now owns 5,891 shares of the company’s stock, valued at $394,697. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 3.50% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Seven Eight Capital LLC purchased a new position in Bluebird Bio during the first quarter valued at approximately $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 valued at $123,000 after buying an additional 2,312 shares in the last quarter. First Mercantile Trust Co. purchased a new position in Bluebird Bio during the third quarter valued at approximately $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 valued at $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 valued at $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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