bluebird bio, Inc. (NASDAQ:BLUE)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Wedbush in a research note issued to investors on Friday. They presently have a $100.00 price target on the biotechnology company’s stock, down from their previous price target of $121.00. Wedbush’s price objective points to a potential downside of 9.99% from the stock’s current price.
BLUE has been the topic of a number of other research reports. Jefferies Group LLC reiterated a “buy” rating and issued a $88.00 target price on shares of bluebird bio in a report on Friday, March 24th. Zacks Investment Research lowered bluebird bio from a “hold” rating to a “sell” rating in a research report on Tuesday, April 25th. Cantor Fitzgerald set a $37.00 price objective on bluebird bio and gave the company a “sell” rating in a research report on Monday, June 5th. BTIG Research reissued a “buy” rating and issued a $112.00 price objective on shares of bluebird bio in a research report on Thursday, June 1st. Finally, Morgan Stanley raised their price objective on bluebird bio from $58.00 to $87.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 1st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. bluebird bio presently has an average rating of “Buy” and an average target price of $95.03.
Shares of bluebird bio (BLUE) opened at 111.10 on Friday. bluebird bio has a one year low of $36.62 and a one year high of $120.95. The firm has a 50-day moving average price of $92.89 and a 200 day moving average price of $81.98. The firm’s market cap is $4.55 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 Zacks’ consensus estimate of ($1.76) by $0.08. bluebird bio had a negative return on equity of 35.17% and a negative net margin of 2,402.03%. The firm had revenue of $6.83 million for the quarter, compared to analysts’ expectations of $1.51 million. On average, analysts forecast that bluebird bio will post ($6.64) earnings per share for the current fiscal year.
In other bluebird bio news, insider Jason Cole sold 17,245 shares of bluebird bio stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $100.22, for a total value of $1,728,293.90. Following the completion of the transaction, the insider now directly owns 30,871 shares in the company, valued at $3,093,891.62. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Daniel Lynch sold 2,000 shares of bluebird bio stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $80.00, for a total value of $160,000.00. Following the completion of the transaction, the director now owns 3,400 shares of the company’s stock, valued at $272,000. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,758 shares of company stock valued at $3,298,951. 3.90% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of BLUE. BlackRock Inc. increased its position in shares of bluebird bio by 44,948.0% in the first quarter. BlackRock Inc. now owns 3,182,188 shares of the biotechnology company’s stock valued at $289,259,000 after buying an additional 3,175,124 shares in the last quarter. Norges Bank acquired a new position in shares of bluebird bio during the fourth quarter valued at about $22,940,000. MARSHALL WACE ASIA Ltd acquired a new position in shares of bluebird bio during the first quarter valued at about $18,006,000. Marshall Wace North America L.P. acquired a new position in shares of bluebird bio during the first quarter valued at about $18,006,000. Finally, Vanguard Group Inc. increased its position in shares of bluebird bio by 4.6% in the first quarter. Vanguard Group Inc. now owns 3,215,246 shares of the biotechnology company’s stock valued at $292,266,000 after buying an additional 141,293 shares in the last quarter.
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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