Bluebird Bio Inc. (BLUE) Upgraded at Zacks Investment Research
Bluebird Bio Inc. (NASDAQ:BLUE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “Bluebird Bio, Inc. is a biotechnology company. It focuses on the development, manufacture and marketing of therapies for severe genetic disorders such as childhood cerebral adrenoleukodystrophy, neurodegenerative disorders and beta-thalassemia. The company operates in the U.S. and Europe. Bluebird Bio, Inc. is headquartered in Cambridge, Massachusetts. “
Several other research analysts have also recently weighed in on the company. Cowen and Company restated an “outperform” rating on shares of Bluebird Bio in a report on Monday. Jefferies Group set a $80.00 target price on Bluebird Bio and gave the stock a “buy” rating in a report on Saturday. Goldman Sachs Group Inc. restated a “buy” rating and set a $135.00 target price on shares of Bluebird Bio in a report on Saturday. BTIG Research restated a “buy” rating and set a $83.00 target price (up from $72.00) on shares of Bluebird Bio in a report on Saturday. Finally, Leerink Swann boosted their target price on Bluebird Bio from $67.00 to $80.00 and gave the stock an “outperform” rating in a report on Friday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $91.60.
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Shares of Bluebird Bio (NASDAQ:BLUE) traded down 1.08% during midday trading on Tuesday, reaching $54.90. The company’s stock had a trading volume of 1,196,405 shares. Bluebird Bio has a one year low of $35.37 and a one year high of $99.70. The firm’s market cap is $2.04 billion. The stock’s 50 day moving average price is $63.83 and its 200 day moving average price is $51.18.
Bluebird Bio (NASDAQ:BLUE) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported ($1.59) EPS for the quarter, missing the Thomson Reuters’ 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 had revenue of $1.55 million for the quarter, compared to analysts’ expectations of $2.01 million. During the same quarter last year, the firm posted ($1.57) earnings per share. Bluebird Bio’s quarterly revenue was down 68.6% on a year-over-year basis. Analysts predict that Bluebird Bio will post ($6.19) earnings per share for the current year.
In other news, insider Eric Sullivan sold 2,807 shares of the company’s stock in a transaction on Wednesday, July 20th. The stock was sold at an average price of $45.04, for a total transaction of $126,427.28. Following the sale, the insider now owns 4,656 shares of the company’s stock, valued at $209,706.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.50% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the company. First Mercantile Trust Co. bought a new stake in Bluebird Bio during the third quarter worth $129,000. Seven Eight Capital LLC bought a new stake in Bluebird Bio during the first quarter worth $108,000. Quantbot Technologies LP raised its stake in Bluebird Bio by 431.3% in the second quarter. Quantbot Technologies LP now owns 2,848 shares of the company’s stock worth $123,000 after buying an additional 2,312 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in 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 in the last quarter. Finally, Amalgamated Bank bought a new stake in Bluebird Bio during the second quarter worth $222,000.
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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