bluebird bio, Inc. (BLUE) Upgraded to Strong-Buy by BidaskClub
bluebird bio, Inc. (NASDAQ:BLUE) was upgraded by investment analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a note issued to investors on Friday.
Several other research firms also recently commented on BLUE. Morgan Stanley reiterated an “equal weight” rating and issued a $105.00 price objective (up previously from $91.00) on shares of bluebird bio in a report on Wednesday, June 14th. Cowen and Company reiterated an “outperform” rating on shares of bluebird bio in a report on Friday, June 9th. Standpoint Research reiterated a “reduce” rating and issued a $110.00 price objective on shares of bluebird bio in a report on Friday, June 16th. Janney Montgomery Scott lifted their price objective on bluebird bio from $81.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, June 7th. Finally, Maxim Group reiterated a “hold” rating on shares of bluebird bio in a report on Friday, May 5th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $94.91.
bluebird bio (BLUE) traded down 5.49% during midday trading on Friday, hitting $112.00. The company’s stock had a trading volume of 3,073,656 shares. bluebird bio has a 52-week low of $36.62 and a 52-week high of $120.95. The company’s market cap is $4.59 billion. The stock has a 50 day moving average of $92.89 and a 200 day moving average of $81.98.
bluebird bio (NASDAQ:BLUE) last released its quarterly earnings data on Wednesday, May 3rd. The biotechnology company reported ($1.68) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.76) by $0.08. The firm had revenue of $6.83 million for the quarter, compared to the consensus estimate of $1.51 million. bluebird bio had a negative return on equity of 35.17% and a negative net margin of 2,402.03%. On average, equities analysts expect that bluebird bio will post ($6.74) EPS for the current year.
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In other bluebird bio news, insider Jason Cole sold 17,245 shares of bluebird bio stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $100.22, for a total transaction of $1,728,293.90. Following the sale, the insider now directly owns 30,871 shares of the company’s stock, valued at approximately $3,093,891.62. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Daniel Lynch sold 3,000 shares of bluebird bio stock in a transaction that occurred on Monday, March 27th. The shares were sold at an average price of $88.12, for a total value of $264,360.00. Following the sale, the director now directly owns 3,400 shares in the company, valued at $299,608. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 36,758 shares of company stock worth $3,563,311. Insiders own 3.90% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. purchased a new stake in bluebird bio during the fourth quarter valued at $1,477,000. FMR LLC boosted its stake in bluebird bio by 0.6% in the first quarter. FMR LLC now owns 6,126,713 shares of the biotechnology company’s stock valued at $556,918,000 after buying an additional 37,742 shares during the last quarter. Advisors Asset Management Inc. purchased a new stake in bluebird bio during the first quarter valued at $858,000. Macquarie Group Ltd. purchased a new stake in bluebird bio during the fourth quarter valued at $703,000. Finally, Metropolitan Life Insurance Co. NY boosted its stake in bluebird bio by 7.6% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 28,505 shares of the biotechnology company’s stock valued at $1,759,000 after buying an additional 2,017 shares during the last quarter.
bluebird bio Company Profile
bluebird bio, Inc is a clinical-stage biotechnology company. The Company is focused on developing gene therapies for severe diseases and cancer. With its lentiviral-based gene therapy and gene editing capabilities, it has built an integrated product platform with various applications in these areas. The Company’s clinical programs in severe genetic diseases include its LentiGlobin product candidate to treat transfusion-dependent b-thalassemia and to treat severe sickle cell disease (SCD) and its Lenti-D product candidate to treat cerebral adrenoleukodystrophy (CALD).
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