Wedbush Reaffirms Outperform Rating for Bluebird Bio Inc. (BLUE)
Bluebird Bio Inc. (NASDAQ:BLUE)‘s stock had its “outperform” rating restated by investment analysts at Wedbush in a research report issued on Friday. They presently have a $117.00 price target on the stock. Wedbush’s target price points to a potential upside of 79.34% from the company’s current price.
Other equities analysts also recently issued research reports about the stock. Leerink Swann reiterated a “buy” rating on shares of Bluebird Bio in a research note on Friday, September 9th. Piper Jaffray Cos. set a $95.00 target price on shares of Bluebird Bio and gave the stock a “buy” rating in a research note on Thursday, September 8th. Goldman Sachs Group Inc. reiterated a “buy” rating and issued a $135.00 target price on shares of Bluebird Bio in a research note on Thursday, September 8th. Maxim Group reaffirmed a “buy” rating and set a $85.00 price objective (down previously from $105.00) on shares of Bluebird Bio in a research note on Thursday, August 4th. Finally, BTIG Research reaffirmed a “buy” rating and set a $72.00 price objective on shares of Bluebird Bio in a research note on Wednesday, June 29th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $90.25.
Bluebird Bio (NASDAQ:BLUE) opened at 65.24 on Friday. Bluebird Bio has a 52 week low of $35.37 and a 52 week high of $99.70. The company has a 50-day moving average of $63.52 and a 200 day moving average of $50.81. The company’s market cap is $2.42 billion.
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Bluebird Bio (NASDAQ:BLUE) last posted its earnings results on Wednesday, August 3rd. The company reported ($1.59) earnings per share for the quarter, missing the consensus estimate of ($1.44) by $0.15. The business earned $1.55 million during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.57) EPS. On average, equities analysts forecast that Bluebird Bio will post ($6.19) EPS for the current fiscal year.
In other news, insider Eric Sullivan sold 416 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $67.00, for a total value of $27,872.00. Following the completion of the sale, the insider now directly owns 5,891 shares in the company, valued at approximately $394,697. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.50% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the stock. Baillie Gifford & Co. raised its stake in Bluebird Bio by 1.5% in the second quarter. Baillie Gifford & Co. now owns 5,054,175 shares of the company’s stock worth $218,795,000 after buying an additional 76,538 shares in the last quarter. Vanguard Group Inc. raised its stake in Bluebird Bio by 14.2% in the second quarter. Vanguard Group Inc. now owns 2,680,871 shares of the company’s stock worth $116,055,000 after buying an additional 333,396 shares in the last quarter. State Street Corp raised its stake in Bluebird Bio by 41.4% in the second quarter. State Street Corp now owns 1,699,977 shares of the company’s stock worth $73,592,000 after buying an additional 498,041 shares in the last quarter. BlackRock Fund Advisors raised its stake in Bluebird Bio by 80.0% in the second quarter. BlackRock Fund Advisors now owns 1,386,229 shares of the company’s stock worth $60,010,000 after buying an additional 616,095 shares in the last quarter. Finally, Wellington Management Group LLP purchased a new stake in Bluebird Bio during the first quarter worth approximately $51,095,000.
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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