bluebird bio, Inc. (NASDAQ:BLUE) had its target price increased by investment analysts at SunTrust Banks, Inc. from $108.00 to $163.00 in a report issued on Friday, November 3rd. The brokerage currently has a “buy” rating on the biotechnology company’s stock. SunTrust Banks, Inc.’s price target would suggest a potential upside of 5.47% from the stock’s previous close.
BLUE has been the topic of several other research reports. Zacks Investment Research cut shares of bluebird bio from a “buy” rating to a “hold” rating in a research report on Tuesday, July 18th. BidaskClub cut shares of bluebird bio from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Jefferies Group LLC restated a “buy” rating and set a $88.00 price objective on shares of bluebird bio in a research report on Friday, August 11th. Morgan Stanley raised shares of bluebird bio from an “underweight” rating to an “equal weight” rating in a report on Friday, November 3rd. Finally, Evercore ISI raised shares of bluebird bio from an “in-line” rating to an “outperform” rating and set a $102.00 target price on the stock in a report on Monday, October 16th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $131.05.
Shares of bluebird bio (NASDAQ BLUE) traded up $2.80 during mid-day trading on Friday, hitting $154.55. 553,100 shares of the company were exchanged, compared to its average volume of 843,318. bluebird bio has a 12 month low of $55.65 and a 12 month high of $164.80.
bluebird bio (NASDAQ:BLUE) last announced 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). bluebird bio had a negative net margin of 883.18% and a negative return on equity of 28.79%. The business had revenue of $7.71 million for the quarter, compared to analysts’ expectations of $8.47 million. During the same quarter in the previous year, the company posted ($2.07) earnings per share. The business’s quarterly revenue was up 397.4% compared to the same quarter last year. research analysts predict that bluebird bio will post -6.68 earnings per share for the current fiscal year.
In other news, insider Nick Leschly sold 25,667 shares of the business’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $115.18, for a total value of $2,956,325.06. Following the transaction, the insider now owns 339,368 shares of the company’s stock, valued at $39,088,406.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jeffrey T. Walsh sold 1,250 shares of the business’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $107.06, for a total transaction of $133,825.00. Following the completion of the transaction, the insider now directly owns 28,555 shares in the company, valued at approximately $3,057,098.30. The disclosure for this sale can be found here. Insiders have sold 193,168 shares of company stock valued at $25,558,003 over the last 90 days. 3.90% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Vident Investment Advisory LLC raised its stake in bluebird bio by 5.7% during the third quarter. Vident Investment Advisory LLC now owns 10,758 shares of the biotechnology company’s stock valued at $1,477,000 after purchasing an additional 576 shares in the last quarter. Nicholas Investment Partners LP raised its stake in bluebird bio by 42.1% during the third quarter. Nicholas Investment Partners LP now owns 71,329 shares of the biotechnology company’s stock valued at $9,797,000 after purchasing an additional 21,146 shares in the last quarter. Stifel Financial Corp purchased a new stake in bluebird bio during the third quarter valued at $391,000. Dimensional Fund Advisors LP raised its stake in bluebird bio by 31.8% during the third quarter. Dimensional Fund Advisors LP now owns 139,994 shares of the biotechnology company’s stock valued at $19,231,000 after purchasing an additional 33,805 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in bluebird bio by 51.9% during the third quarter. Schwab Charles Investment Management Inc. now owns 266,693 shares of the biotechnology company’s stock valued at $36,631,000 after purchasing an additional 91,161 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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