Bluebird Bio Inc. (BLUE) Upgraded to Hold by 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 report 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. “
BLUE has been the topic of several other reports. Jefferies Group restated a “buy” rating and set a $80.00 price objective on shares of Bluebird Bio in a research note on Friday, September 23rd. Goldman Sachs Group Inc. reiterated a “buy” rating and set a $135.00 target price on shares of Bluebird Bio in a research note on Saturday. SunTrust Banks Inc. reiterated a “buy” rating on shares of Bluebird Bio in a research note on Friday. Maxim Group set a $85.00 target price on Bluebird Bio and gave the stock a “buy” rating in a research note on Thursday, September 22nd. Finally, Leerink Swann lifted their target price on Bluebird Bio from $67.00 to $80.00 and gave the stock an “outperform” rating in a research note on Friday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have given a buy rating to the stock. Bluebird Bio currently has an average rating of “Buy” and a consensus 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. 1,196,405 shares of the company’s stock were exchanged. Bluebird Bio has a 12 month low of $35.37 and a 12 month high of $99.70. The company’s market cap is $2.04 billion. The firm has a 50 day moving average price of $63.83 and a 200 day moving average price of $51.18.
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 consensus estimate of ($1.44) by $0.15. Bluebird Bio had a negative net margin of 3,512.13% and a negative return on equity of 24.85%. The company had revenue of $1.55 million for the quarter, compared to the consensus estimate of $2.01 million. During the same quarter last year, the business posted ($1.57) earnings per share. Bluebird Bio’s revenue was down 68.6% on a year-over-year basis. Equities research analysts forecast 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 Bluebird Bio stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $67.00, for a total transaction of $27,872.00. Following the completion of the transaction, the insider now owns 5,891 shares of the company’s stock, valued at approximately $394,697. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Bellevue Group AG acquired a new position in shares of Bluebird Bio during the first quarter valued at approximately $1,233,000. Sphera Funds Management LTD. acquired a new position in shares of Bluebird Bio during the first quarter valued at approximately $1,275,000. Wellington Management Group LLP acquired a new position in shares of Bluebird Bio during the first quarter valued at approximately $51,095,000. Tiverton Asset Management LLC acquired a new position in shares of Bluebird Bio during the first quarter valued at approximately $3,957,000. Finally, AXA raised its position in shares of Bluebird Bio by 19.3% in the first quarter. AXA now owns 148,851 shares of the company’s stock valued at $6,326,000 after buying an additional 24,053 shares during 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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