Bluebird Bio Inc. (BLUE) Earns Buy Rating from Analysts at Roth Capital
Investment analysts at Roth Capital started coverage on shares of Bluebird Bio Inc. (NASDAQ:BLUE) in a research note issued to investors on Thursday. The firm set a “buy” rating and a $87.00 price target on the stock. Roth Capital’s target price indicates a potential upside of 17.87% from the company’s current price.
BLUE has been the subject of a number of other research reports. Cantor Fitzgerald began coverage on Bluebird Bio in a research report on Thursday, June 2nd. They issued a “hold” rating and a $42.00 price objective for the company. Jefferies Group reaffirmed a “positive” rating and issued a $80.00 price objective on shares of Bluebird Bio in a research report on Thursday, July 14th. Maxim Group reaffirmed a “buy” rating and issued a $85.00 price objective (down previously from $105.00) on shares of Bluebird Bio in a research report on Thursday, August 4th. Cowen and Company reaffirmed an “outperform” rating on shares of Bluebird Bio in a research report on Friday, September 9th. Finally, Vetr downgraded Bluebird Bio from a “buy” rating to a “hold” rating and set a $44.44 price objective for the company. in a research report on Monday, July 4th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $89.17.
Bluebird Bio (NASDAQ:BLUE) traded down 1.6454% during midday trading on Thursday, reaching $72.5955. The company’s stock had a trading volume of 286,136 shares. Bluebird Bio has a 1-year low of $35.37 and a 1-year high of $113.26. The company’s market capitalization is $2.70 billion. The company has a 50 day moving average of $57.02 and a 200-day moving average of $48.11.
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Bluebird Bio (NASDAQ:BLUE) last released its quarterly earnings results on Wednesday, August 3rd. The company reported ($1.59) earnings per share for the quarter, missing the Zacks’ consensus estimate 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 analyst estimates of $2.01 million. During the same period last year, the firm earned ($1.57) earnings per share. The business’s revenue was down 68.6% compared to the same quarter last year. Equities research analysts anticipate that Bluebird Bio will post ($6.16) earnings per share for the current fiscal year.
In related news, insider Eric Sullivan sold 2,912 shares of the business’s stock in a transaction dated Wednesday, July 27th. The stock was sold at an average price of $55.01, for a total value of $160,189.12. Following the transaction, the insider now owns 4,456 shares in the company, valued at $245,124.56. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider David Davidson sold 1,000 shares of the business’s stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $45.08, for a total value of $45,080.00. Following the completion of the transaction, the insider now owns 10,600 shares in the company, valued at approximately $477,848. The disclosure for this sale can be found here. 3.50% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Baillie Gifford & Co. boosted its position in Bluebird Bio by 1.5% in the second quarter. Baillie Gifford & Co. now owns 5,054,175 shares of the company’s stock valued at $218,795,000 after buying an additional 76,538 shares during the period. Vanguard Group Inc. boosted its stake in shares of Bluebird Bio by 14.2% in the second quarter. Vanguard Group Inc. now owns 2,680,871 shares of the company’s stock valued at $116,055,000 after buying an additional 333,396 shares during the last quarter. State Street Corp boosted its stake in shares of Bluebird Bio by 41.4% in the second quarter. State Street Corp now owns 1,699,977 shares of the company’s stock valued at $73,592,000 after buying an additional 498,041 shares during the last quarter. BlackRock Fund Advisors boosted its stake in shares of Bluebird Bio by 80.0% in the second quarter. BlackRock Fund Advisors now owns 1,386,229 shares of the company’s stock valued at $60,010,000 after buying an additional 616,095 shares during the last quarter. Finally, Wellington Management Group LLP purchased a new stake in shares of Bluebird Bio during the first quarter valued at about $51,095,000.
About Bluebird Bio
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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