Wedbush Reiterates “Outperform” Rating for Bluebird Bio Inc. (BLUE)
Bluebird Bio Inc. (NASDAQ:BLUE)‘s stock had its “outperform” rating reaffirmed by analysts at Wedbush in a research report issued to clients and investors on Friday. They presently have a $117.00 price target on the stock. Wedbush’s target price suggests a potential upside of 79.34% from the company’s previous close.
Several other brokerages have also recently weighed in on BLUE. Goldman Sachs Group Inc. reaffirmed a “buy” rating and set a $135.00 price objective on shares of Bluebird Bio in a research note on Thursday, September 8th. Maxim Group set a $100.00 price objective on shares of Bluebird Bio and gave the stock a “buy” rating in a research note on Thursday, September 29th. Leerink Swann reaffirmed a “buy” rating on shares of Bluebird Bio in a research note on Friday, September 9th. Piper Jaffray Cos. set a $95.00 price objective on shares of Bluebird Bio and gave the stock a “buy” rating in a research note on Thursday, September 8th. Finally, Vetr raised shares of Bluebird Bio from a “buy” rating to a “strong-buy” rating and set a $44.44 price target on the stock in a research note on Monday, June 27th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Bluebird Bio has a consensus rating of “Buy” and an average target price of $90.25.
Bluebird Bio (NASDAQ:BLUE) opened at 65.24 on Friday. Bluebird Bio has a 12-month low of $35.37 and a 12-month high of $99.70. The firm has a 50 day moving average price of $63.52 and a 200 day moving average price of $50.81. The company’s market cap is $2.42 billion.
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Bluebird Bio (NASDAQ:BLUE) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported ($1.59) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.44) by $0.15. The firm had revenue of $1.55 million for the quarter, compared to the consensus estimate 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 quarterly revenue was down 68.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.57) earnings per share. On average, analysts anticipate that Bluebird Bio will post ($6.19) earnings per share for the current fiscal year.
In other Bluebird Bio news, insider Eric Sullivan sold 416 shares of the stock in a transaction 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 sale, the insider now directly owns 5,891 shares in the company, valued at $394,697. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 3.50% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the company. Seven Eight Capital LLC bought a new stake in shares of Bluebird Bio during the first quarter valued at about $108,000. Quantbot Technologies LP increased its stake in shares of Bluebird Bio by 431.3% in the second quarter. Quantbot Technologies LP now owns 2,848 shares of the company’s stock valued at $123,000 after buying an additional 2,312 shares in the last quarter. First Mercantile Trust Co. bought a new stake in shares of Bluebird Bio during the third quarter valued at about $129,000. BlackRock Inc. increased 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 valued at $194,000 after buying an additional 3,533 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in shares of Bluebird Bio by 110.5% in the third quarter. BNP Paribas Arbitrage SA now owns 3,084 shares of the company’s stock valued at $209,000 after buying an additional 1,619 shares in the last quarter.
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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