BMO Capital Markets Boosts bluebird bio, Inc. (BLUE) Price Target to $162.00

bluebird bio, Inc. (NASDAQ:BLUE) had its price objective increased by BMO Capital Markets from $134.00 to $162.00 in a research report report published on Monday morning, Marketbeat Ratings reports. The firm currently has a buy rating on the biotechnology company’s stock.

A number of other equities research analysts have also recently commented on the company. Cowen and Company reissued an outperform rating on shares of bluebird bio in a report on Thursday, August 31st. Wells Fargo & Company reissued an outperform rating and set a $158.00 price target (up from $134.00) on shares of bluebird bio in a report on Tuesday, September 5th. Wedbush reissued an outperform rating and set a $135.00 price target (up from $121.00) on shares of bluebird bio in a report on Friday, September 1st. Maxim Group reissued a buy rating and set a $170.00 price target (up from $100.00) on shares of bluebird bio in a report on Monday, October 9th. Finally, Jefferies Group LLC reissued a buy rating on shares of bluebird bio in a report on Thursday, July 6th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company. bluebird bio presently has a consensus rating of Hold and a consensus target price of $128.70.

bluebird bio (NASDAQ:BLUE) last posted its quarterly earnings results on Wednesday, November 1st. The biotechnology company reported ($1.73) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.68) by ($0.05). The business had revenue of $7.71 million for the quarter, compared to the consensus estimate of $8.47 million. bluebird bio had a negative net margin of 1,080.59% and a negative return on equity of 32.19%. bluebird bio’s revenue was up 397.4% compared to the same quarter last year. During the same period in the prior year, the business earned ($2.07) earnings per share.

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In other news, insider Eric Sullivan sold 861 shares of bluebird bio stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $93.83, for a total value of $80,787.63. Following the sale, the insider now directly owns 5,924 shares of the company’s stock, valued at $555,848.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel Lynch sold 500 shares of bluebird bio stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $120.00, for a total value of $60,000.00. Following the completion of the sale, the director now directly owns 3,300 shares in the company, valued at $396,000. The disclosure for this sale can be found here. Insiders sold 150,002 shares of company stock worth $18,840,335 over the last ninety days. Insiders own 3.90% of the company’s stock.

Several hedge funds have recently modified their holdings of BLUE. Parametric Portfolio Associates LLC increased its holdings in shares of bluebird bio by 11.5% in the first quarter. Parametric Portfolio Associates LLC now owns 22,743 shares of the biotechnology company’s stock worth $2,067,000 after purchasing an additional 2,338 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of bluebird bio by 2.6% in the first quarter. Legal & General Group Plc now owns 13,944 shares of the biotechnology company’s stock worth $1,272,000 after purchasing an additional 357 shares during the last quarter. Vanguard Group Inc. increased its holdings 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 worth $292,266,000 after purchasing an additional 141,293 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of bluebird bio by 8.8% in the first quarter. Geode Capital Management LLC now owns 355,213 shares of the biotechnology company’s stock worth $32,288,000 after purchasing an additional 28,603 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of bluebird bio by 24.5% in the first quarter. Dimensional Fund Advisors LP now owns 84,961 shares of the biotechnology company’s stock worth $7,723,000 after purchasing an additional 16,741 shares during 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).

Analyst Recommendations for bluebird bio (NASDAQ:BLUE)

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