Bluebird Bio Inc. (BLUE) Price Target Increased to $80.00 by Analysts at Leerink Swann
Bluebird Bio Inc. (NASDAQ:BLUE) had its price objective increased by Leerink Swann from $67.00 to $80.00 in a report released on Friday. The firm presently has an “outperform” rating on the stock. Leerink Swann’s price objective suggests a potential upside of 22.62% from the stock’s previous close.
A number of other brokerages also recently issued reports on BLUE. Wedbush reaffirmed an “outperform” rating and set a $117.00 price target on shares of Bluebird Bio in a report on Wednesday, August 3rd. Goldman Sachs Group Inc. reaffirmed a “buy” rating and set a $135.00 price target on shares of Bluebird Bio in a report on Thursday, September 8th. Maxim Group set a $100.00 price target on Bluebird Bio and gave the company a “buy” rating in a report on Thursday, September 29th. Piper Jaffray Cos. set a $95.00 price target on Bluebird Bio and gave the company a “buy” rating in a report on Thursday, September 8th. Finally, Vetr raised Bluebird Bio from a “buy” rating to a “strong-buy” rating and set a $44.44 price target on the stock in a report on Monday, June 27th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $90.82.
Shares of Bluebird Bio (NASDAQ:BLUE) traded down 6.05% during mid-day trading on Friday, hitting $61.29. The stock had a trading volume of 935,723 shares. The company’s market cap is $2.28 billion. Bluebird Bio has a 12 month low of $35.37 and a 12 month high of $99.70. The stock’s 50-day moving average is $63.52 and its 200 day moving average is $50.81.
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Bluebird Bio (NASDAQ:BLUE) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported ($1.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.44) by $0.15. The business had revenue of $1.55 million for the quarter, compared to the consensus estimate of $2.01 million. Bluebird Bio had a negative net margin of 3,512.13% and a negative return on equity of 24.85%. The company’s revenue for the quarter was down 68.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.57) earnings per share. On average, equities research analysts forecast that Bluebird Bio will post ($6.19) earnings per share for the current fiscal year.
In other Bluebird Bio news, insider Eric Sullivan sold 2,912 shares of the company’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 completion of the sale, the insider now owns 4,456 shares in the company, valued at $245,124.56. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 3.50% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP acquired a new stake in Bluebird Bio during the first quarter valued at about $51,095,000. BlackRock Inc. boosted its stake 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. California State Teachers Retirement System boosted its stake in Bluebird Bio by 2.2% in the second quarter. California State Teachers Retirement System now owns 77,687 shares of the company’s stock valued at $3,363,000 after buying an additional 1,682 shares in the last quarter. Swiss National Bank boosted its stake in Bluebird Bio by 10.6% in the second quarter. Swiss National Bank now owns 59,707 shares of the company’s stock valued at $2,585,000 after buying an additional 5,700 shares in the last quarter. Finally, Iguana Healthcare Management LLC acquired a new stake in Bluebird Bio during the first quarter valued at about $1,030,000.
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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