bluebird bio Inc (BLUE) Given Consensus Recommendation of “Hold” by Analysts

bluebird bio Inc (NASDAQ:BLUE) has been assigned an average recommendation of “Hold” from the twenty-eight ratings firms that are covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have issued a buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $206.21.

Several equities research analysts have recently commented on the stock. ValuEngine lowered shares of bluebird bio from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Morgan Stanley reduced their price target on shares of bluebird bio from $190.00 to $186.00 and set an “equal weight” rating for the company in a research report on Monday. Goldman Sachs Group lowered shares of bluebird bio from a “conviction-buy” rating to a “buy” rating in a research report on Friday, September 21st. Guggenheim assumed coverage on shares of bluebird bio in a research report on Monday, September 17th. They set a “neutral” rating for the company. Finally, BidaskClub lowered shares of bluebird bio from a “hold” rating to a “sell” rating in a research report on Tuesday, September 11th.

In related news, insider Jeffrey T. Walsh sold 21,500 shares of the stock in a transaction that occurred on Thursday, August 2nd. The shares were sold at an average price of $152.02, for a total value of $3,268,430.00. Following the completion of the sale, the insider now directly owns 56,995 shares of the company’s stock, valued at approximately $8,664,379.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeffrey T. Walsh sold 1,500 shares of the stock in a transaction that occurred on Wednesday, October 10th. The stock was sold at an average price of $135.23, for a total transaction of $202,845.00. Following the completion of the sale, the insider now directly owns 36,995 shares of the company’s stock, valued at $5,002,833.85. The disclosure for this sale can be found here. Insiders sold a total of 62,859 shares of company stock valued at $10,029,606 over the last three months. 3.00% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of the business. Nisa Investment Advisors LLC boosted its stake in bluebird bio by 4,086.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,512 shares of the biotechnology company’s stock worth $367,000 after purchasing an additional 2,452 shares during the period. Bank of Montreal Can boosted its stake in bluebird bio by 36.5% in the 3rd quarter. Bank of Montreal Can now owns 40,381 shares of the biotechnology company’s stock worth $5,896,000 after purchasing an additional 10,790 shares during the period. State of Alaska Department of Revenue boosted its stake in bluebird bio by 9.2% in the 3rd quarter. State of Alaska Department of Revenue now owns 6,320 shares of the biotechnology company’s stock worth $922,000 after purchasing an additional 530 shares during the period. Atria Investments LLC bought a new position in bluebird bio in the 3rd quarter worth approximately $216,000. Finally, Public Employees Retirement System of Ohio boosted its stake in bluebird bio by 264.9% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 31,600 shares of the biotechnology company’s stock worth $4,960,000 after purchasing an additional 22,939 shares during the period. Institutional investors and hedge funds own 98.45% of the company’s stock.

Shares of NASDAQ BLUE traded down $3.35 during midday trading on Thursday, hitting $123.42. 52,289 shares of the company’s stock traded hands, compared to its average volume of 785,562. bluebird bio has a 1 year low of $120.02 and a 1 year high of $236.17. The firm has a market capitalization of $7.91 billion, a P/E ratio of -16.01 and a beta of 1.89.

bluebird bio (NASDAQ:BLUE) last released its quarterly earnings results on Thursday, August 2nd. The biotechnology company reported ($2.91) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.30) by ($0.61). bluebird bio had a negative net margin of 1,281.01% and a negative return on equity of 31.57%. The business had revenue of $7.80 million for the quarter, compared to analysts’ expectations of $10.68 million. During the same period in the previous year, the company earned ($1.73) EPS. bluebird bio’s revenue for the quarter was down 53.3% compared to the same quarter last year. As a group, analysts forecast that bluebird bio will post -10.8 EPS for the current fiscal year.

bluebird bio Company Profile

bluebird bio, Inc, a clinical-stage biotechnology company, focuses on developing transformative gene therapies for severe genetic diseases and cancer. Its product candidates include Lenti-D that is in Phase II/III clinical trials for the treatment of cerebral adrenoleukodystrophy, a rare hereditary neurological disorder; and LentiGlobin, which is in various clinical studies for the treatment of transfusion- transfusion-dependent ß-thalassemia and severe sickle cell disease.

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Analyst Recommendations for bluebird bio (NASDAQ:BLUE)

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