BTIG Research upgraded shares of bluebird bio, Inc. (NASDAQ:BLUE) from a neutral rating to a buy rating in a research note issued to investors on Thursday, November 2nd, MarketBeat Ratings reports. The brokerage currently has $177.00 price target on the biotechnology company’s stock.
Several other brokerages also recently weighed in on BLUE. Zacks Investment Research downgraded bluebird bio from a buy rating to a hold rating in a report on Tuesday, July 18th. Cantor Fitzgerald reaffirmed a sell rating and set a $39.00 target price on shares of bluebird bio in a research report on Thursday, September 28th. Evercore ISI raised bluebird bio from an in-line rating to an outperform rating and set a $102.00 target price on the stock in a research report on Monday, October 16th. BMO Capital Markets raised their price objective on bluebird bio from $134.00 to $162.00 and gave the stock a buy rating in a research report on Monday, October 30th. Finally, Goldman Sachs Group, Inc. (The) reissued a buy rating and issued a $186.00 price objective on shares of bluebird bio in a research report on Friday, October 6th. Two research 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 stock currently has an average rating of Buy and an average price target of $131.05.
Shares of bluebird bio (NASDAQ:BLUE) traded up $2.80 during midday trading on Thursday, reaching $154.55. The company’s stock had a trading volume of 553,100 shares, compared to its average volume of 843,318. bluebird bio has a fifty-two week low of $55.65 and a fifty-two week high of $164.80.
bluebird bio (NASDAQ:BLUE) last posted its quarterly earnings data on Wednesday, November 1st. The biotechnology company reported ($1.73) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $7.71 million for the quarter, compared to analysts’ expectations of $8.47 million. During the same quarter last year, the company posted ($2.07) EPS. The firm’s revenue was up 397.4% compared to the same quarter last year. equities analysts expect that bluebird bio will post -6.68 earnings per share for the current year.
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In related news, insider Jeffrey T. Walsh sold 35,000 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $151.38, for a total value of $5,298,300.00. Following the transaction, the insider now owns 62,305 shares of the company’s stock, valued at $9,431,730.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nick Leschly sold 25,667 shares of the 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 completion of the transaction, the insider now directly owns 339,368 shares in the company, valued at approximately $39,088,406.24. The disclosure for this sale can be found here. Insiders sold 193,168 shares of company stock worth $25,558,003 over the last quarter. 3.90% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC boosted its position in bluebird bio by 9.6% during the second quarter. FMR LLC now owns 6,713,949 shares of the biotechnology company’s stock worth $705,301,000 after acquiring an additional 587,236 shares during the last quarter. Capital Research Global Investors increased its position in shares of bluebird bio by 9.9% in the 2nd quarter. Capital Research Global Investors now owns 5,483,117 shares of the biotechnology company’s stock worth $576,001,000 after purchasing an additional 493,072 shares during the last quarter. Baillie Gifford & Co. increased its position in shares of bluebird bio by 3.8% in the 2nd quarter. Baillie Gifford & Co. now owns 5,400,658 shares of the biotechnology company’s stock worth $567,339,000 after purchasing an additional 196,025 shares during the last quarter. Vanguard Group Inc. increased its position in shares of bluebird bio by 10.7% in the 2nd quarter. Vanguard Group Inc. now owns 3,559,102 shares of the biotechnology company’s stock worth $373,884,000 after purchasing an additional 343,856 shares during the last quarter. Finally, BlackRock Inc. increased its position in shares of bluebird bio by 4.3% in the 2nd quarter. BlackRock Inc. now owns 3,320,329 shares of the biotechnology company’s stock worth $348,801,000 after purchasing an additional 138,141 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).
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