Bluebird Bio’s (BLUE) Outperform Rating Reiterated at Cowen and Company
Bluebird Bio Inc. (NASDAQ:BLUE)‘s stock had its “outperform” rating reissued by research analysts at Cowen and Company in a research note issued to investors on Monday.
Several other research analysts have also recently commented on the company. Goldman Sachs Group Inc. raised Bluebird Bio from a “buy” rating to a “conviction-buy” rating and set a $135.00 target price for the company in a research report on Thursday, September 15th. Cantor Fitzgerald lowered Bluebird Bio from a “hold” rating to a “sell” rating and dropped their price objective for the stock from $65.24 to $37.00 in a research note on Friday. Leerink Swann increased their price objective on Bluebird Bio from $67.00 to $80.00 and gave the stock an “outperform” rating in a research note on Friday. Maxim Group reiterated a “buy” rating and set a $85.00 price objective (down from $105.00) on shares of Bluebird Bio in a research note on Thursday, August 4th. Finally, Roth Capital started coverage on Bluebird Bio in a research note on Thursday, September 22nd. They set a “buy” rating and a $87.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the stock. Bluebird Bio presently has a consensus rating of “Buy” and a consensus target price of $91.60.
Shares of Bluebird Bio (NASDAQ:BLUE) traded down 1.89% during midday trading on Monday, reaching $55.50. 1,521,162 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $63.71 and a 200-day moving average of $50.93. Bluebird Bio has a 1-year low of $35.37 and a 1-year high of $99.70. The company’s market capitalization is $2.06 billion.
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Bluebird Bio (NASDAQ:BLUE) last issued its earnings results on Wednesday, August 3rd. The company reported ($1.59) EPS for the quarter, missing the consensus estimate of ($1.44) by $0.15. The firm earned $1.55 million during 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%. The firm’s revenue for the quarter was down 68.6% compared to the same quarter last year. During the same period last year, the business earned ($1.57) earnings per share. Equities analysts expect that Bluebird Bio will post ($6.19) earnings per share for the current fiscal year.
In other Bluebird Bio news, insider Eric Sullivan sold 2,807 shares of the firm’s stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $45.04, for a total transaction of $126,427.28. Following the transaction, the insider now owns 4,656 shares in the company, valued at $209,706.24. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 3.50% of the company’s stock.
A number of institutional investors have recently modified their holdings of the company. Cupps Capital Management LLC bought a new position in shares of Bluebird Bio during the third quarter worth about $1,824,000. Gradient Investments LLC bought a new position in shares of Bluebird Bio during the third quarter worth about $333,000. First Mercantile Trust Co. bought a new position in shares of Bluebird Bio during the third quarter worth about $129,000. BNP Paribas Arbitrage SA boosted its position 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 worth $209,000 after buying an additional 1,619 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of Bluebird Bio by 43.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 145,569 shares of the company’s stock worth $6,302,000 after buying an additional 44,048 shares during the period.
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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