bluebird bio, Inc. (NASDAQ:BLUE)‘s stock had its “sell” rating reiterated by analysts at Cantor Fitzgerald in a report released on Monday. They presently have a $39.00 target price on the biotechnology company’s stock. Cantor Fitzgerald’s price objective would indicate a potential downside of 59.40% from the company’s previous close.

The analysts wrote, “LentiGlobin R&D, A Costly Endeavor. From 2014 to 2016, LentiGlobin has accounted for approximately $127 million in direct R&D expenditures. While these expenditures for LentiGlobin have been substantial, they remain only a portion of total direct R&D ($240 million) and reported accounting R&D ($401 million). Given the 23 patients dosed with the gene therapy by ASH 2016, LentiGlobin amounted to an expense of $5.5 million per patient dosed. We estimate approximately 127 patients could be required to complete development for these programs, amounting to a cost of ~$700 million. We believe R&D estimates could accelerate and model for a slightly increased burn over future years.””

BLUE has been the subject of a number of other reports. Zacks Investment Research cut bluebird bio from a “buy” rating to a “hold” rating in a research note on Tuesday, July 18th. BTIG Research reiterated a “buy” rating and issued a $112.00 price target on shares of bluebird bio in a research note on Thursday, June 1st. Wedbush reiterated an “outperform” rating on shares of bluebird bio in a research note on Tuesday, June 6th. Cowen and Company reiterated a “buy” rating on shares of bluebird bio in a research note on Friday, June 23rd. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $103.00 price target (down from $105.00) on shares of bluebird bio in a research note on Monday, July 10th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $100.02.

bluebird bio (NASDAQ:BLUE) traded up 3.96% during trading on Monday, hitting $99.85. The stock had a trading volume of 727,037 shares. The stock’s 50-day moving average is $103.56 and its 200-day moving average is $87.10. The stock’s market capitalization is $4.09 billion. bluebird bio has a 52-week low of $37.05 and a 52-week high of $123.75.

bluebird bio (NASDAQ:BLUE) last issued its quarterly earnings data on Wednesday, May 3rd. The biotechnology company reported ($1.68) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.76) by $0.08. bluebird bio had a negative return on equity of 35.17% and a negative net margin of 2,402.03%. The company had revenue of $6.83 million for the quarter, compared to the consensus estimate of $1.51 million. On average, analysts predict that bluebird bio will post ($6.70) earnings per share for the current fiscal year.

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In other bluebird bio news, insider Philip D. Gregory sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $99.04, for a total value of $148,560.00. Following the sale, the insider now directly owns 37,279 shares of the company’s stock, valued at $3,692,112.16. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel Lynch sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 27th. The shares were sold at an average price of $90.01, for a total value of $90,010.00. Following the completion of the sale, the director now directly owns 2,400 shares in the company, valued at $216,024. The disclosure for this sale can be found here. Over the last three months, insiders sold 76,245 shares of company stock worth $7,924,508. 3.90% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the stock. Aperio Group LLC raised its stake in shares of bluebird bio by 10.9% in the second quarter. Aperio Group LLC now owns 5,001 shares of the biotechnology company’s stock worth $525,000 after buying an additional 491 shares in the last quarter. Bank of Montreal Can raised its stake in shares of bluebird bio by 118.9% in the second quarter. Bank of Montreal Can now owns 1,677 shares of the biotechnology company’s stock worth $176,000 after buying an additional 911 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in shares of bluebird bio during the second quarter worth about $903,000. FNY Partners Fund LP raised its stake in shares of bluebird bio by 511,900.0% in the first quarter. FNY Partners Fund LP now owns 25,600 shares of the biotechnology company’s stock worth $2,327,000 after buying an additional 25,595 shares in the last quarter. Finally, Driehaus Capital Management LLC raised its stake in shares of bluebird bio by 95.4% in the first quarter. Driehaus Capital Management LLC now owns 48,810 shares of the biotechnology company’s stock worth $4,437,000 after buying an additional 23,826 shares in the last quarter.

About bluebird bio

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).

Analyst Recommendations for bluebird bio (NASDAQ:BLUE)

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