bluebird bio (BLUE) Downgraded to Buy at BidaskClub

bluebird bio (NASDAQ:BLUE) was downgraded by equities research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a note issued to investors on Tuesday.

Several other analysts have also weighed in on the company. Wedbush restated an “outperform” rating and issued a $174.00 price objective (up previously from $135.00) on shares of bluebird bio in a report on Thursday, November 2nd. Cantor Fitzgerald restated a “sell” rating and set a $39.00 target price on shares of bluebird bio in a research note on Thursday, September 28th. Evercore ISI upgraded bluebird bio from an “in-line” rating to an “outperform” rating and set a $102.00 target price for the company in a research note on Monday, October 16th. BMO Capital Markets increased their target price on bluebird bio from $134.00 to $162.00 and gave the company a “buy” rating in a research note on Monday, October 30th. Finally, Goldman Sachs Group restated a “buy” rating and set a $186.00 target price on shares of bluebird bio in a research note on Friday, October 6th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $157.45.

Shares of bluebird bio (NASDAQ:BLUE) traded down $7.35 during mid-day trading on Tuesday, reaching $163.35. The company’s stock had a trading volume of 1,753,800 shares, compared to its average volume of 743,860. bluebird bio has a one year low of $63.90 and a one year high of $222.03. The firm has a market cap of $7,490.00, a price-to-earnings ratio of -23.30 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 Zacks’ consensus estimate of ($1.68) by ($0.05). bluebird bio had a negative return on equity of 28.79% and a negative net margin of 883.18%. The business had revenue of $7.71 million for the quarter, compared to analyst estimates of $8.47 million. During the same quarter last year, the firm posted ($2.07) EPS. The company’s revenue was up 397.4% compared to the same quarter last year. research analysts expect that bluebird bio will post -6.72 EPS for the current fiscal year.

In related news, insider Nick Leschly sold 7,050 shares of the firm’s stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $145.14, for a total transaction of $1,023,237.00. Following the completion of the sale, the insider now directly 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 is available at the SEC website. Also, COO Susanna Gatti High sold 1,282 shares of the firm’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $172.15, for a total value of $220,696.30. Following the sale, the chief operating officer now directly owns 13,718 shares of the company’s stock, valued at $2,361,553.70. The disclosure for this sale can be found here. Insiders have sold a total of 211,445 shares of company stock valued at $37,326,831 over the last ninety days. Insiders own 3.90% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Ladenburg Thalmann Financial Services Inc. increased its holdings in bluebird bio by 454.2% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 992 shares of the biotechnology company’s stock valued at $136,000 after purchasing an additional 813 shares in the last quarter. QS Investors LLC increased its holdings in bluebird bio by 70.7% during the 2nd quarter. QS Investors LLC now owns 1,207 shares of the biotechnology company’s stock valued at $127,000 after purchasing an additional 500 shares in the last quarter. Biondo Investment Advisors LLC acquired a new stake in bluebird bio during the 3rd quarter valued at $203,000. World Asset Management Inc acquired a new stake in bluebird bio during the 3rd quarter valued at $230,000. Finally, Comerica Bank acquired a new stake in bluebird bio during the 3rd quarter valued at $242,000.

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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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