Bluebird Bio Inc. (BLUE) Rating Reiterated by SunTrust Banks Inc.
Bluebird Bio Inc. (NASDAQ:BLUE)‘s stock had its “buy” rating reaffirmed by equities research analysts at SunTrust Banks Inc. in a report issued on Friday.
Several other research analysts have also recently commented on BLUE. Goldman Sachs Group Inc. reiterated a “buy” rating and set a $135.00 price target on shares of Bluebird Bio in a report on Thursday, September 8th. Maxim Group reiterated a “buy” rating and set a $85.00 price target (down previously from $105.00) on shares of Bluebird Bio in a report on Thursday, August 4th. BTIG Research reiterated a “buy” rating and set a $72.00 price target on shares of Bluebird Bio in a report on Wednesday, June 29th. Jefferies Group reiterated a “buy” rating and set a $80.00 price target on shares of Bluebird Bio in a report on Friday, July 8th. Finally, Piper Jaffray Cos. set a $95.00 price target on shares of Bluebird Bio and gave the stock a “buy” rating in a report on Thursday, September 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Bluebird Bio currently has an average rating of “Buy” and a consensus price target of $90.25.
Shares of Bluebird Bio (NASDAQ:BLUE) opened at 65.24 on Friday. The company’s market cap is $2.42 billion. Bluebird Bio has a 52-week low of $35.37 and a 52-week high of $99.70. The firm has a 50-day moving average of $63.52 and a 200-day moving average of $50.81.
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Bluebird Bio (NASDAQ:BLUE) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported ($1.59) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.44) by $0.15. The business earned $1.55 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm posted ($1.57) EPS. Equities research analysts forecast that Bluebird Bio will post ($6.19) earnings per share for the current year.
In other news, insider Eric Sullivan sold 2,807 shares of the business’s stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $45.04, for a total transaction of $126,427.28. Following the sale, the insider now directly owns 4,656 shares in the company, valued at $209,706.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 3.50% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. TIAA CREF Investment Management LLC boosted its stake in shares of Bluebird Bio by 134.0% in the first quarter. TIAA CREF Investment Management LLC now owns 339,424 shares of the company’s stock worth $14,426,000 after buying an additional 194,367 shares during the period. Teachers Advisors Inc. boosted its stake in shares of Bluebird Bio by 5.5% in the first quarter. Teachers Advisors Inc. now owns 46,048 shares of the company’s stock worth $1,957,000 after buying an additional 2,416 shares during the period. Franklin Resources Inc. boosted its stake in shares of Bluebird Bio by 26.1% in the first quarter. Franklin Resources Inc. now owns 965,561 shares of the company’s stock worth $41,036,000 after buying an additional 199,900 shares during the period. BlackRock Inc. boosted its stake in shares of Bluebird Bio by 341.0% in the first quarter. BlackRock Inc. now owns 4,569 shares of the company’s stock worth $194,000 after buying an additional 3,533 shares during the period. Finally, BlackRock Group LTD boosted its stake in shares of Bluebird Bio by 11.2% in the first quarter. BlackRock Group LTD now owns 24,672 shares of the company’s stock worth $1,049,000 after buying an additional 2,493 shares during the period.
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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