Jefferies Group Analysts Give Bluebird Bio Inc. (BLUE) a $80.00 Price Target
Bluebird Bio Inc. (NASDAQ:BLUE) received a $80.00 target price from investment analysts at Jefferies Group in a research report issued on Saturday. The brokerage presently has a a “buy” rating on the stock. Jefferies Group’s price objective would indicate a potential upside of 41.42% from the company’s previous close.
A number of other equities analysts have also recently issued reports on BLUE. Vetr upgraded shares of Bluebird Bio from a “buy” rating to a “strong-buy” rating and set a $44.44 price objective for the company in a research note on Monday, June 27th. BTIG Research reaffirmed a “buy” rating and issued a $72.00 target price on shares of Bluebird Bio in a report on Wednesday, June 29th. Wedbush reaffirmed an “outperform” rating and issued a $117.00 target price on shares of Bluebird Bio in a report on Wednesday, August 3rd. Maxim Group reaffirmed a “buy” rating and issued a $85.00 target price (down previously from $105.00) on shares of Bluebird Bio in a report on Thursday, August 4th. Finally, Leerink Swann reissued an “outperform” rating and set a $67.00 price objective on shares of Bluebird Bio in a report on Thursday, August 4th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and fourteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $91.60.
Bluebird Bio (NASDAQ:BLUE) traded down 13.29% during mid-day trading on Friday, hitting $56.57. 4,144,106 shares of the stock traded hands. The firm’s market cap is $2.10 billion. The stock has a 50 day moving average price of $63.71 and a 200 day moving average price of $50.93. Bluebird Bio has a 12-month low of $35.37 and a 12-month high of $99.70.
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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 Zacks’ consensus estimate of ($1.44) by $0.15. Bluebird Bio had a negative return on equity of 24.85% and a negative net margin of 3,512.13%. The firm earned $1.55 million during the quarter, compared to analyst estimates of $2.01 million. During the same quarter in the previous year, the firm posted ($1.57) earnings per share. Bluebird Bio’s quarterly revenue was down 68.6% compared to the same quarter last year. On average, analysts expect that Bluebird Bio will post ($6.19) earnings per share for the current fiscal year.
In other news, insider Eric Sullivan sold 2,807 shares of the firm’s stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $45.04, for a total value of $126,427.28. Following the transaction, the insider now owns 4,656 shares of the company’s stock, valued at approximately $209,706.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.50% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in the stock. Candriam Luxembourg S.C.A. increased its stake in shares of Bluebird Bio by 31.7% in the fourth quarter. Candriam Luxembourg S.C.A. now owns 58,200 shares of the company’s stock worth $3,738,000 after buying an additional 14,000 shares in the last quarter. Baillie Gifford & Co. increased its stake in shares of Bluebird Bio by 2.1% in the fourth quarter. Baillie Gifford & Co. now owns 4,883,321 shares of the company’s stock worth $313,607,000 after buying an additional 99,617 shares in the last quarter. GAM Holding AG purchased a new stake in shares of Bluebird Bio during the fourth quarter worth $2,717,000. Jennison Associates purchased a new stake in shares of Bluebird Bio during the third quarter worth $3,679,000. Finally, New York State Common Retirement Fund increased its stake in shares of Bluebird Bio by 27.8% in the fourth quarter. New York State Common Retirement Fund now owns 171,022 shares of the company’s stock worth $10,983,000 after buying an additional 37,178 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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