bluebird bio, Inc. (BLUE) Now Covered by Analysts at Evercore ISI
Investment analysts at Evercore ISI began coverage on shares of bluebird bio, Inc. (NASDAQ:BLUE) in a research note issued on Wednesday, Marketbeat Ratings reports. The brokerage set an “in-line” rating and a $102.00 price target on the biotechnology company’s stock. Evercore ISI’s price objective would indicate a potential upside of 5.05% from the company’s current price.
A number of other brokerages have also recently commented on BLUE. Zacks Investment Research cut bluebird bio from a “hold” rating to a “sell” rating in a research note on Tuesday, April 25th. BTIG Research cut bluebird bio from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $37.05 to $108.25 in a research note on Friday, June 30th. Wedbush reaffirmed an “outperform” rating and issued a $100.00 price target (down from $121.00) on shares of bluebird bio in a research note on Friday, June 23rd. Cowen and Company reaffirmed an “outperform” rating on shares of bluebird bio in a research note on Friday, June 9th. Finally, BidaskClub raised bluebird bio from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the company’s stock. bluebird bio has a consensus rating of “Hold” and an average target price of $100.74.
bluebird bio (BLUE) traded down 1.24% during mid-day trading on Wednesday, reaching $95.90. 126,219 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $97.40 and a 200-day moving average of $90.88. bluebird bio has a one year low of $37.05 and a one year high of $123.75. The stock’s market cap is $4.37 billion.
bluebird bio (NASDAQ:BLUE) last announced its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($1.73) EPS for the quarter, missing the Zacks’ 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%. bluebird bio’s revenue for the quarter was up 977.4% on a year-over-year basis. During the same period last year, the firm earned ($1.59) earnings per share. On average, equities research analysts anticipate that bluebird bio will post ($6.78) earnings per share for the current year.
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In related news, Director James Mandell sold 1,000 shares of the company’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $95.95, for a total value of $95,950.00. Following the sale, the director now directly owns 1,000 shares of the company’s stock, valued at $95,950. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Daniel Lynch sold 2,000 shares of the company’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $80.00, for a total value of $160,000.00. Following the completion of the sale, the director now directly owns 3,400 shares in the company, valued at $272,000. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 80,106 shares of company stock worth $8,308,358. 3.90% of the stock is owned by insiders.
A number of large investors have recently modified their holdings of the company. QS Investors LLC boosted its stake in shares of bluebird bio by 70.7% in the second quarter. QS Investors LLC now owns 1,207 shares of the biotechnology company’s stock valued at $127,000 after buying an additional 500 shares during the last quarter. Bank of Montreal Can increased its stake in bluebird bio by 118.9% in the second quarter. Bank of Montreal Can now owns 1,677 shares of the biotechnology company’s stock valued at $176,000 after buying an additional 911 shares during the period. Turner Investments LLC bought a new stake in bluebird bio during the second quarter valued at approximately $184,000. SG Americas Securities LLC increased its stake in bluebird bio by 17.9% in the second quarter. SG Americas Securities LLC now owns 1,945 shares of the biotechnology company’s stock valued at $204,000 after buying an additional 295 shares during the period. Finally, Fairfield Bush & CO. bought a new stake in bluebird bio during the second quarter valued at approximately $210,000.
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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