bluebird bio, Inc. (BLUE) Given “Buy” Rating at Jefferies Group LLC
bluebird bio, Inc. (NASDAQ:BLUE)‘s stock had its “buy” rating restated by equities research analysts at Jefferies Group LLC in a research note issued to investors on Friday. They presently have a $88.00 price objective on the biotechnology company’s stock. Jefferies Group LLC’s target price indicates a potential downside of 6.33% from the stock’s current price.
Several other brokerages have also issued reports on BLUE. Zacks Investment Research lowered bluebird bio from a “hold” rating to a “sell” rating in a research report on Tuesday, April 25th. BTIG Research lowered bluebird bio from a “buy” rating to a “neutral” rating and boosted their target price for the company from $37.05 to $108.25 in a research report on Friday, June 30th. Wedbush restated an “outperform” rating and set a $100.00 target price (down previously from $121.00) on shares of bluebird bio in a research report on Friday, June 23rd. Cowen and Company restated an “outperform” rating on shares of bluebird bio in a research report on Friday, June 9th. Finally, BidaskClub upgraded bluebird bio from a “sell” rating to a “hold” rating in a research report on Wednesday. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $100.66.
bluebird bio (NASDAQ:BLUE) traded up 4.33% on Friday, reaching $93.95. The company’s stock had a trading volume of 553,360 shares. bluebird bio has a one year low of $37.05 and a one year high of $123.75. The company’s market capitalization is $4.28 billion. The firm has a 50-day moving average of $98.52 and a 200-day moving average of $90.12.
bluebird bio (NASDAQ:BLUE) last released its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($1.73) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.66) by $0.07. The company had revenue of $16.70 million during the quarter, compared to analysts’ expectations of $6.29 million. bluebird bio had a negative return on equity of 32.19% and a negative net margin of 1,080.59%. The company’s revenue was up 977.4% on a year-over-year basis. During the same quarter in the prior year, the business posted ($1.59) EPS. Analysts predict that bluebird bio will post ($6.78) EPS for the current year.
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In related news, insider Philip D. Gregory sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $99.04, for a total value of $148,560.00. Following the completion of the transaction, the insider now owns 37,279 shares of the company’s stock, valued at $3,692,112.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Philip D. Gregory sold 750 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $99.00, for a total transaction of $74,250.00. Following the completion of the transaction, the insider now directly owns 31,234 shares of the company’s stock, valued at approximately $3,092,166. The disclosure for this sale can be found here. Insiders have sold 77,856 shares of company stock valued at $8,093,145 in the last ninety days. Insiders own 3.90% of the company’s stock.
Institutional investors have recently modified their holdings of the company. FMR LLC increased its position in shares of bluebird bio by 9.6% in the second quarter. FMR LLC now owns 6,713,949 shares of the biotechnology company’s stock worth $705,301,000 after buying an additional 587,236 shares during the period. Baillie Gifford & Co. increased its position in shares of bluebird bio by 3.8% in the second quarter. Baillie Gifford & Co. now owns 5,400,658 shares of the biotechnology company’s stock worth $567,339,000 after buying an additional 196,025 shares during the period. Vanguard Group Inc. increased its position in shares of bluebird bio by 10.7% in the second quarter. Vanguard Group Inc. now owns 3,559,102 shares of the biotechnology company’s stock worth $373,884,000 after buying an additional 343,856 shares during the period. BlackRock Inc. increased its position in shares of bluebird bio by 4.3% in the second quarter. BlackRock Inc. now owns 3,320,329 shares of the biotechnology company’s stock worth $348,801,000 after buying an additional 138,141 shares during the period. Finally, State Street Corp increased its position in shares of bluebird bio by 3.7% in the first quarter. State Street Corp now owns 1,611,032 shares of the biotechnology company’s stock worth $146,443,000 after buying an additional 58,228 shares during the period.
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).
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