bluebird bio (NASDAQ:BLUE) had its price target increased by equities researchers at Bank of America from $185.00 to $218.00 in a research note issued to investors on Thursday. The brokerage presently has a “neutral” rating on the biotechnology company’s stock. Bank of America’s target price points to a potential upside of 5.11% from the stock’s previous close.
Several other equities research analysts have also recently issued reports on the company. BMO Capital Markets raised their price objective on bluebird bio from $215.00 to $222.00 and gave the stock an “outperform” rating in a report on Thursday. Sanford C. Bernstein restated a “market perform” rating and set a $211.00 price objective (up previously from $153.00) on shares of bluebird bio in a report on Thursday. Cantor Fitzgerald decreased their price objective on bluebird bio from $122.00 to $113.00 and set an “underweight” rating on the stock in a report on Thursday. Canaccord Genuity restated a “buy” rating and set a $250.00 price objective on shares of bluebird bio in a report on Thursday, February 1st. Finally, BidaskClub upgraded bluebird bio from a “buy” rating to a “strong-buy” rating in a report on Friday, January 26th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $173.05.
bluebird bio (BLUE) traded up $1.95 during trading on Thursday, reaching $207.40. The company’s stock had a trading volume of 303,300 shares, compared to its average volume of 864,799. The stock has a market capitalization of $9,670.00, a P/E ratio of -27.11 and a beta of 2.07. bluebird bio has a one year low of $74.40 and a one year high of $222.03.
bluebird bio (NASDAQ:BLUE) last released its quarterly earnings results on Wednesday, February 21st. The biotechnology company reported ($2.52) earnings per share for the quarter, missing the consensus estimate of ($1.68) by ($0.84). The company had revenue of $4.17 million for the quarter, compared to analysts’ expectations of $7.11 million. bluebird bio had a negative return on equity of 28.79% and a negative net margin of 883.18%. The business’s quarterly revenue was up 169.0% on a year-over-year basis. During the same period in the previous year, the business posted ($1.88) EPS. equities research analysts forecast that bluebird bio will post -6.71 EPS for the current year.
In related news, COO Susanna Gatti High sold 1,282 shares of bluebird bio stock in a transaction on Friday, December 1st. The stock was sold at an average price of $172.15, for a total value of $220,696.30. Following the transaction, the chief operating officer now owns 13,718 shares in the company, valued at $2,361,553.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeffrey T. Walsh sold 9,900 shares of bluebird bio stock in a transaction on Monday, December 11th. The shares were sold at an average price of $216.54, for a total value of $2,143,746.00. Following the completion of the transaction, the insider now owns 37,205 shares in the company, valued at approximately $8,056,370.70. The disclosure for this sale can be found here. Insiders sold 200,280 shares of company stock worth $37,818,846 in the last quarter. 3.90% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. raised its position in bluebird bio by 2,110.3% in the fourth quarter. Meeder Asset Management Inc. now owns 641 shares of the biotechnology company’s stock valued at $114,000 after purchasing an additional 612 shares during the period. QS Investors LLC raised its position in bluebird bio by 70.7% in the second 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 during the period. NuWave Investment Management LLC purchased a new position in bluebird bio in the fourth quarter valued at about $135,000. Ladenburg Thalmann Financial Services Inc. raised its position in bluebird bio by 454.2% in the third 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 during the period. Finally, Biondo Investment Advisors LLC purchased a new position in bluebird bio in the third quarter valued at about $203,000.
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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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