bluebird bio (NASDAQ:BLUE) Upgraded at BidaskClub

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bluebird bio (NASDAQ:BLUE) was upgraded by equities researchers at BidaskClub from a “strong sell” rating to a “sell” rating in a report released on Tuesday, BidAskClub reports.

BLUE has been the subject of several other reports. BMO Capital Markets cut their price objective on bluebird bio from $191.00 to $163.00 and set an “outperform” rating for the company in a research report on Monday, June 17th. JPMorgan Chase & Co. restated a “buy” rating and set a $195.00 price objective on shares of bluebird bio in a research report on Thursday, June 13th. Morgan Stanley cut their price objective on bluebird bio from $143.00 to $136.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 6th. ValuEngine upgraded bluebird bio from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 1st. Finally, Gabelli restated a “buy” rating on shares of bluebird bio in a research report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $154.13.

Shares of bluebird bio stock opened at $107.44 on Tuesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 8.02 and a quick ratio of 8.02. bluebird bio has a 1 year low of $87.49 and a 1 year high of $163.43. The company has a market capitalization of $5.90 billion, a P/E ratio of -10.06 and a beta of 2.29. The business has a 50 day moving average price of $111.99 and a 200 day moving average price of $130.93.

bluebird bio (NASDAQ:BLUE) last issued its quarterly earnings data on Thursday, August 1st. The biotechnology company reported ($3.55) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($3.04) by ($0.51). bluebird bio had a negative return on equity of 35.90% and a negative net margin of 1,158.04%. The company had revenue of $13.30 million for the quarter, compared to analyst estimates of $13.13 million. During the same quarter in the prior year, the firm earned ($2.91) earnings per share. The company’s revenue for the quarter was up 68.4% on a year-over-year basis. As a group, research analysts expect that bluebird bio will post -13.22 EPS for the current fiscal year.

In other bluebird bio news, insider Philip D. Gregory sold 950 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $124.03, for a total value of $117,828.50. Following the completion of the transaction, the insider now directly owns 31,042 shares in the company, valued at approximately $3,850,139.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David Davidson sold 7,660 shares of the business’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $129.47, for a total value of $991,740.20. Following the completion of the transaction, the insider now owns 38,946 shares of the company’s stock, valued at $5,042,338.62. The disclosure for this sale can be found here. Insiders sold a total of 12,870 shares of company stock valued at $1,563,309 over the last quarter. 3.00% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of BLUE. Charles Schwab Investment Management Inc. increased its holdings in shares of bluebird bio by 3.3% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 241,584 shares of the biotechnology company’s stock worth $30,730,000 after buying an additional 7,606 shares during the last quarter. Aperio Group LLC increased its holdings in shares of bluebird bio by 4.4% during the 2nd quarter. Aperio Group LLC now owns 12,447 shares of the biotechnology company’s stock worth $1,583,000 after buying an additional 530 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of bluebird bio by 6.5% during the 2nd quarter. Commonwealth Equity Services LLC now owns 3,793 shares of the biotechnology company’s stock worth $482,000 after buying an additional 230 shares during the last quarter. MayTech Global Investments LLC increased its holdings in shares of bluebird bio by 445.7% during the 1st quarter. MayTech Global Investments LLC now owns 30,182 shares of the biotechnology company’s stock worth $4,749,000 after buying an additional 24,651 shares during the last quarter. Finally, Nikko Asset Management Americas Inc. increased its holdings in shares of bluebird bio by 37.5% during the 2nd quarter. Nikko Asset Management Americas Inc. now owns 133,786 shares of the biotechnology company’s stock worth $17,018,000 after buying an additional 36,485 shares during the last quarter.

bluebird bio Company Profile

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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