bluebird bio, Inc. (BLUE) Receives Average Rating of “Hold” from Brokerages

bluebird bio, Inc. (NASDAQ:BLUE) has received an average rating of “Hold” from the twenty-five brokerages that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $162.56.

Several equities research analysts have weighed in on BLUE shares. Goldman Sachs Group restated a “buy” rating and issued a $186.00 price objective on shares of bluebird bio in a research report on Friday, October 6th. Maxim Group restated a “buy” rating and issued a $170.00 price objective (up previously from $100.00) on shares of bluebird bio in a research report on Monday, October 9th. BMO Capital Markets raised their price objective on shares of bluebird bio from $134.00 to $162.00 and gave the company a “buy” rating in a research report on Monday, October 30th. BTIG Research upgraded shares of bluebird bio from a “neutral” rating to a “buy” rating and set a $177.00 price objective for the company in a research report on Thursday, November 2nd. Finally, SunTrust Banks raised their price objective on shares of bluebird bio from $108.00 to $163.00 and gave the company a “buy” rating in a research report on Friday, November 3rd.

In related news, insider Nick Leschly sold 7,050 shares of bluebird bio stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $145.14, for a total transaction of $1,023,237.00. Following the transaction, the insider now owns 259,059 shares of the company’s stock, valued at approximately $37,599,823.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David Davidson sold 6,000 shares of bluebird bio stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $180.30, for a total transaction of $1,081,800.00. Following the transaction, the insider now directly owns 21,977 shares in the company, valued at approximately $3,962,453.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 211,445 shares of company stock valued at $37,326,831. 3.90% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio bought a new position in bluebird bio during the 3rd quarter worth approximately $2,725,000. Sterling Capital Management LLC bought a new position in bluebird bio in the third quarter valued at approximately $351,000. California Public Employees Retirement System lifted its stake in bluebird bio by 1.5% in the third quarter. California Public Employees Retirement System now owns 86,100 shares of the biotechnology company’s stock valued at $11,826,000 after buying an additional 1,300 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its stake in bluebird bio by 454.2% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 992 shares of the biotechnology company’s stock valued at $136,000 after buying an additional 813 shares in the last quarter. Finally, Crestline Management LP lifted its stake in bluebird bio by 27.7% in the third quarter. Crestline Management LP now owns 12,594 shares of the biotechnology company’s stock valued at $1,730,000 after buying an additional 2,735 shares in the last quarter.

Shares of bluebird bio (BLUE) traded down $0.95 during mid-day trading on Tuesday, reaching $170.70. 631,300 shares of the company traded hands, compared to its average volume of 624,611. bluebird bio has a 12-month low of $63.90 and a 12-month high of $222.03. The company has a market cap of $7,450.00, a P/E ratio of -24.35 and a beta of 2.08.

bluebird bio (NASDAQ:BLUE) last announced its quarterly earnings results on Wednesday, November 1st. The biotechnology company reported ($1.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.68) by ($0.05). bluebird bio had a negative net margin of 883.18% and a negative return on equity of 28.79%. The firm had revenue of $7.71 million for the quarter, compared to the consensus estimate of $8.47 million. During the same period in the prior year, the business earned ($2.07) earnings per share. The company’s revenue for the quarter was up 397.4% on a year-over-year basis. equities research analysts expect that bluebird bio will post -6.72 EPS for the current year.

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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).

Analyst Recommendations for bluebird bio (NASDAQ:BLUE)

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