bluebird bio (NASDAQ:BLUE) Given “Buy” Rating at JPMorgan Chase & Co.

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bluebird bio (NASDAQ:BLUE)‘s stock had its “buy” rating reissued by equities research analysts at JPMorgan Chase & Co. in a research note issued to investors on Thursday, AnalystRatings.com reports. They presently have a $195.00 price objective on the biotechnology company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 66.01% from the company’s current price.

Several other research analysts have also commented on BLUE. BidaskClub raised shares of bluebird bio from a “sell” rating to a “hold” rating in a research note on Tuesday, May 7th. Zacks Investment Research raised shares of bluebird bio from a “hold” rating to a “buy” rating and set a $160.00 price objective for the company in a research note on Monday, April 29th. Cantor Fitzgerald set a $122.00 price objective on shares of bluebird bio and gave the stock a “hold” rating in a research note on Friday, March 22nd. William Blair reissued an “outperform” rating on shares of bluebird bio in a research note on Tuesday, April 23rd. Finally, ValuEngine raised shares of bluebird bio from a “hold” rating to a “buy” rating in a research note on Friday, March 1st. Eleven investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. bluebird bio has a consensus rating of “Buy” and an average target price of $168.29.

NASDAQ BLUE opened at $117.46 on Thursday. The company has a quick ratio of 9.31, a current ratio of 9.31 and a debt-to-equity ratio of 0.09. The firm has a market cap of $6.53 billion, a price-to-earnings ratio of -11.00 and a beta of 2.51. bluebird bio has a 52 week low of $87.49 and a 52 week high of $197.25.

bluebird bio (NASDAQ:BLUE) last posted its quarterly earnings data on Thursday, May 2nd. The biotechnology company reported ($2.99) EPS for the quarter, missing the consensus estimate of ($2.79) by ($0.20). The firm had revenue of $12.47 million for the quarter, compared to analysts’ expectations of $15.49 million. bluebird bio had a negative return on equity of 34.01% and a negative net margin of 1,184.01%. The firm’s quarterly revenue was down 21.9% compared to the same quarter last year. During the same period in the previous year, the firm earned ($2.31) earnings per share. Analysts predict that bluebird bio will post -12.32 EPS for the current fiscal year.

In related news, insider David Davidson sold 6,360 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $160.06, for a total value of $1,017,981.60. Following the completion of the sale, the insider now directly owns 37,976 shares of the company’s stock, valued at $6,078,438.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Philip D. Gregory sold 1,800 shares of the company’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $128.60, for a total transaction of $231,480.00. Following the completion of the sale, the insider now directly owns 32,192 shares of the company’s stock, valued at $4,139,891.20. The disclosure for this sale can be found here. Insiders have sold 18,920 shares of company stock valued at $2,742,225 over the last three months. Insiders own 3.00% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in BLUE. Marshall Wace North America L.P. purchased a new stake in bluebird bio in the first quarter worth about $74,883,000. Norges Bank purchased a new stake in bluebird bio in the fourth quarter worth about $43,816,000. Vanguard Group Inc lifted its stake in bluebird bio by 10.1% in the third quarter. Vanguard Group Inc now owns 4,619,413 shares of the biotechnology company’s stock worth $674,435,000 after acquiring an additional 422,866 shares during the period. Fiera Capital Corp purchased a new stake in bluebird bio in the fourth quarter worth about $33,002,000. Finally, Two Sigma Investments LP purchased a new stake in bluebird bio in the fourth quarter worth about $25,325,000.

About bluebird bio

bluebird bio, Inc, a clinical-stage biotechnology company, focuses on developing transformative gene therapies for severe genetic diseases and cancer. Its product candidates in severe genetic diseases include LentiGlobin, which is in various clinical studies for the treatment of transfusion-dependent ß-thalassemia and severe sickle cell disease; and Lenti-D that is in Phase II/III clinical trials for the treatment of cerebral adrenoleukodystrophy, a rare hereditary neurological disorder.

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Analyst Recommendations for bluebird bio (NASDAQ:BLUE)

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