Cantor Fitzgerald Downgrades Bluebird Bio Inc. (BLUE) to Sell
Bluebird Bio Inc. (NASDAQ:BLUE) was downgraded by research analysts at Cantor Fitzgerald from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.
A number of other analysts have also commented on the company. Goldman Sachs Group Inc. upgraded Bluebird Bio from a “buy” rating to a “conviction-buy” rating and set a $135.00 price objective for the company in a research report on Thursday, September 15th. Maxim Group reiterated a “buy” rating and issued a $85.00 price objective (down from $105.00) on shares of Bluebird Bio in a research report on Thursday, August 4th. Roth Capital initiated coverage on Bluebird Bio in a research report on Thursday, September 22nd. They issued a “buy” rating and a $87.00 price objective for the company. BTIG Research reiterated a “buy” rating and issued a $72.00 price objective on shares of Bluebird Bio in a research report on Wednesday, June 29th. Finally, Jefferies Group reiterated a “positive” rating and issued a $80.00 price objective on shares of Bluebird Bio in a research report on Thursday, July 14th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $90.25.
Shares of Bluebird Bio (NASDAQ:BLUE) opened at 65.24 on Friday. The stock’s market capitalization is $2.42 billion. Bluebird Bio has a 52-week low of $35.37 and a 52-week high of $99.70. The stock 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) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.44) by $0.15. The firm earned $1.55 million during the quarter, compared to analyst estimates of $2.01 million. Bluebird Bio had a negative return on equity of 24.85% and a negative net margin of 3,512.13%. Bluebird Bio’s revenue for the quarter was down 68.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.57) earnings per share. On average, equities research analysts predict that Bluebird Bio will post ($6.19) EPS for the current fiscal year.
In other Bluebird Bio news, insider Eric Sullivan sold 416 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $67.00, for a total value of $27,872.00. Following the sale, the insider now owns 5,891 shares in the company, valued at approximately $394,697. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 3.50% of the stock is owned by company insiders.
Several large investors have recently made changes to their positions in the company. Renaissance Technologies LLC bought a new stake in shares of Bluebird Bio during the first quarter worth about $1,641,000. Wellington Management Group LLP bought a new stake in shares of Bluebird Bio during the first quarter worth about $51,095,000. Tiverton Asset Management LLC bought a new stake in shares of Bluebird Bio during the first quarter worth about $3,957,000. AXA boosted its stake in shares of Bluebird Bio by 19.3% in the first quarter. AXA now owns 148,851 shares of the company’s stock worth $6,326,000 after buying an additional 24,053 shares in the last quarter. Finally, UBS Asset Management Americas Inc. boosted its stake in shares of Bluebird Bio by 0.8% in the first quarter. UBS Asset Management Americas Inc. now owns 157,666 shares of the company’s stock worth $6,701,000 after buying an additional 1,194 shares in the last quarter.
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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