bluebird bio, Inc. (NASDAQ:BLUE) Receives Consensus Recommendation of “Buy” from Analysts
bluebird bio, Inc. (NASDAQ:BLUE) has been assigned a consensus rating of “Buy” from the twenty ratings firms that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $99.59.
BLUE has been the topic of several analyst reports. Zacks Investment Research downgraded shares of bluebird bio from a “hold” rating to a “sell” rating in a report on Tuesday, April 25th. BTIG Research downgraded shares of bluebird bio from a “buy” rating to a “neutral” rating and lifted their target price for the company from $37.05 to $108.25 in a report on Friday, June 30th. Wedbush reaffirmed an “outperform” rating and issued a $100.00 target price (down previously from $121.00) on shares of bluebird bio in a report on Friday, June 23rd. Cowen and Company reaffirmed an “outperform” rating on shares of bluebird bio in a report on Friday, June 9th. Finally, BidaskClub raised shares of bluebird bio from a “buy” rating to a “strong-buy” rating in a report on Friday, June 23rd.
In other bluebird bio news, insider Jeffrey T. Walsh sold 2,500 shares of bluebird bio stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $99.89, for a total transaction of $249,725.00. Following the completion of the transaction, the insider now owns 29,805 shares in the company, valued at $2,977,221.45. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Daniel Lynch sold 2,000 shares of bluebird bio stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $80.00, for a total transaction of $160,000.00. Following the transaction, the director now owns 3,400 shares of the company’s stock, valued at approximately $272,000. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 74,245 shares of company stock valued at $7,751,008. 3.90% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in the company. Advisors Asset Management Inc. purchased a new position in bluebird bio during the first quarter worth $858,000. Commerzbank Aktiengesellschaft FI purchased a new position in bluebird bio during the first quarter worth $588,000. Usca Ria LLC purchased a new position in bluebird bio during the first quarter worth $707,000. Great West Life Assurance Co. Can raised its position in bluebird bio by 28.5% in the first quarter. Great West Life Assurance Co. Can now owns 4,509 shares of the biotechnology company’s stock worth $409,000 after buying an additional 1,000 shares in the last quarter. Finally, Reynders McVeigh Capital Management LLC raised its position in bluebird bio by 40.3% in the first quarter. Reynders McVeigh Capital Management LLC now owns 7,535 shares of the biotechnology company’s stock worth $685,000 after buying an additional 2,165 shares in the last quarter.
Shares of bluebird bio (NASDAQ:BLUE) traded down 1.00% on Tuesday, hitting $98.85. 472,268 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $104.49 and its 200 day moving average price is $87.73. bluebird bio has a 12-month low of $37.05 and a 12-month high of $123.75. The stock’s market cap is $4.05 billion.
bluebird bio (NASDAQ:BLUE) last issued its earnings results on Wednesday, May 3rd. The biotechnology company reported ($1.68) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.76) by $0.08. The business had revenue of $6.83 million for the quarter, compared to the consensus estimate of $1.51 million. bluebird bio had a negative net margin of 2,402.03% and a negative return on equity of 35.17%. On average, equities analysts predict that bluebird bio will post ($6.68) earnings per share for the current fiscal year.
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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