Evercore ISI upgraded shares of bluebird bio, Inc. (NASDAQ:BLUE) from an in-line rating to an outperform rating in a research report released on Monday, October 16th, MarketBeat.com reports. The firm currently has $102.00 target price on the biotechnology company’s stock.
Several other equities analysts have also recently commented on BLUE. BidaskClub upgraded shares of bluebird bio from a sell rating to a hold rating in a report on Wednesday, August 9th. Morgan Stanley restated a hold rating on shares of bluebird bio in a report on Wednesday, August 9th. Leerink Swann restated an outperform rating and set a $120.00 price target on shares of bluebird bio in a report on Saturday, September 30th. Jefferies Group LLC restated a buy rating and set a $88.00 price target on shares of bluebird bio in a report on Friday, August 11th. Finally, Cantor Fitzgerald set a $39.00 price objective on shares of bluebird bio and gave the company a sell rating in a research note on Saturday, June 24th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company’s stock. bluebird bio has an average rating of Hold and an average target price of $118.81.
Shares of bluebird bio (NASDAQ:BLUE) opened at 140.80 on Monday. The firm’s market capitalization is $6.42 billion. The firm has a 50-day moving average price of $132.01 and a 200 day moving average price of $105.35. bluebird bio has a one year low of $37.05 and a one year high of $145.70.
bluebird bio (NASDAQ:BLUE) last posted its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported ($1.73) earnings per share for the quarter, missing the consensus estimate of ($1.66) by ($0.07). bluebird bio had a negative return on equity of 32.19% and a negative net margin of 1,080.59%. The firm had revenue of $16.70 million for the quarter, compared to analysts’ expectations of $6.29 million. During the same quarter in the previous year, the firm posted ($1.59) earnings per share. The company’s revenue for the quarter was up 977.4% on a year-over-year basis. Equities analysts forecast that bluebird bio will post ($6.80) earnings per share for the current fiscal year.
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In related news, CEO Nick Leschly sold 10,823 shares of the stock in a transaction that occurred on Tuesday, October 17th. The shares were sold at an average price of $145.05, for a total value of $1,569,876.15. Following the transaction, the chief executive officer now directly owns 262,409 shares in the company, valued at $38,062,425.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Daniel Lynch sold 500 shares of the stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $120.00, for a total transaction of $60,000.00. Following the completion of the transaction, the director now owns 3,300 shares in the company, valued at $396,000. The disclosure for this sale can be found here. Insiders have sold 153,002 shares of company stock worth $19,117,445 over the last ninety days. Insiders own 3.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. First Trust Advisors LP lifted its holdings in bluebird bio by 46.9% in the third quarter. First Trust Advisors LP now owns 33,043 shares of the biotechnology company’s stock valued at $4,538,000 after buying an additional 10,552 shares during the period. Strs Ohio lifted its holdings in bluebird bio by 20.3% in the third quarter. Strs Ohio now owns 8,900 shares of the biotechnology company’s stock valued at $1,222,000 after buying an additional 1,500 shares during the period. Winslow Evans & Crocker Inc. lifted its holdings in bluebird bio by 31.0% in the third quarter. Winslow Evans & Crocker Inc. now owns 3,800 shares of the biotechnology company’s stock valued at $522,000 after buying an additional 900 shares during the period. Mutual of America Capital Management LLC acquired a new position in bluebird bio in the third quarter valued at approximately $1,264,000. Finally, Ameritas Investment Partners Inc. lifted its holdings in bluebird bio by 5.6% in the second quarter. Ameritas Investment Partners Inc. now owns 3,600 shares of the biotechnology company’s stock valued at $378,000 after buying an additional 191 shares during the period.
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).
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