bluebird bio (BLUE) Price Target Cut to $174.00 by Analysts at SunTrust Banks

bluebird bio (NASDAQ:BLUE) had its price target decreased by SunTrust Banks to $174.00 in a research note issued to investors on Thursday, The Fly reports. The firm currently has a “buy” rating on the biotechnology company’s stock. SunTrust Banks’ target price would indicate a potential upside of 36.46% from the stock’s previous close.

A number of other equities analysts also recently issued reports on BLUE. Zacks Investment Research downgraded bluebird bio from a “hold” rating to a “sell” rating in a research report on Thursday, January 17th. William Blair restated a “buy” rating on shares of bluebird bio in a research report on Friday, May 3rd. BidaskClub upgraded bluebird bio from a “sell” rating to a “hold” rating in a research report on Tuesday, May 7th. Wedbush downgraded bluebird bio from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $166.00 to $131.00 in a research report on Wednesday. Finally, Cantor Fitzgerald set a $122.00 price objective on bluebird bio and gave the stock a “hold” rating in a research report on Friday, March 22nd. Eleven investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $166.62.

Shares of BLUE stock traded up $2.68 during mid-day trading on Thursday, reaching $127.51. 5,805 shares of the stock traded hands, compared to its average volume of 530,811. bluebird bio has a 1-year low of $87.49 and a 1-year high of $199.70. The firm has a market capitalization of $7.01 billion, a price-to-earnings ratio of -12.04 and a beta of 2.50. The company has a current ratio of 9.31, a quick ratio of 9.31 and a debt-to-equity ratio of 0.09.

bluebird bio (NASDAQ:BLUE) last announced its quarterly earnings results on Thursday, May 2nd. The biotechnology company reported ($2.99) EPS for the quarter, missing the Zacks’ consensus estimate of ($2.79) by ($0.20). bluebird bio had a negative net margin of 1,184.01% and a negative return on equity of 34.01%. The firm had revenue of $12.47 million for the quarter, compared to analyst estimates of $15.49 million. During the same period in the previous year, the business posted ($2.31) earnings per share. The business’s revenue for the quarter was down 21.9% compared to the same quarter last year. On average, sell-side analysts predict that bluebird bio will post -12.05 earnings per share for the current fiscal year.

In other news, insider Jeffrey T. Walsh sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $139.80, for a total transaction of $209,700.00. Following the completion of the sale, the insider now owns 42,421 shares in the company, valued at $5,930,455.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jason Cole sold 6,248 shares of the business’s stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $150.24, for a total value of $938,699.52. Following the sale, the insider now owns 28,692 shares of the company’s stock, valued at approximately $4,310,686.08. The disclosure for this sale can be found here. Over the last quarter, insiders sold 31,530 shares of company stock valued at $4,710,113. 3.00% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sphera Funds Management LTD. increased its holdings in shares of bluebird bio by 77.0% during the fourth quarter. Sphera Funds Management LTD. now owns 138,796 shares of the biotechnology company’s stock valued at $13,769,000 after acquiring an additional 60,400 shares in the last quarter. Advisor Group Inc. boosted its position in shares of bluebird bio by 15.5% during the fourth quarter. Advisor Group Inc. now owns 1,256 shares of the biotechnology company’s stock valued at $124,000 after buying an additional 169 shares during the last quarter. Two Sigma Advisers LP purchased a new position in shares of bluebird bio during the fourth quarter valued at approximately $4,385,000. California State Teachers Retirement System boosted its position in shares of bluebird bio by 1.3% during the fourth quarter. California State Teachers Retirement System now owns 85,930 shares of the biotechnology company’s stock valued at $8,524,000 after buying an additional 1,065 shares during the last quarter. Finally, Retirement Systems of Alabama boosted its position in shares of bluebird bio by 22.1% during the fourth quarter. Retirement Systems of Alabama now owns 22,100 shares of the biotechnology company’s stock valued at $2,192,000 after buying an additional 4,000 shares during the last quarter.

About bluebird bio

bluebird bio, Inc, a clinical-stage biotechnology company, focuses on developing transformative gene therapies for severe genetic diseases and cancer. Its product candidates in severe genetic diseases include LentiGlobin, which is in various clinical studies for the treatment of transfusion-dependent ß-thalassemia and severe sickle cell disease; and Lenti-D that is in Phase II/III clinical trials for the treatment of cerebral adrenoleukodystrophy, a rare hereditary neurological disorder.

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