Cantor Fitzgerald upgraded shares of bluebird bio (NASDAQ:BLUE) from an underweight rating to a neutral rating in a report released on Friday, Marketbeat.com reports. They currently have $134.00 price objective on the biotechnology company’s stock, up from their previous price objective of $122.00.
Several other equities analysts have also recently weighed in on BLUE. BidaskClub raised bluebird bio from a sell rating to a hold rating in a research report on Saturday, July 7th. Gabelli initiated coverage on bluebird bio in a research report on Thursday, July 12th. They set a buy rating and a $239.00 price objective for the company. Maxim Group cut their price objective on bluebird bio to $163.00 and set a hold rating for the company in a research report on Monday, July 30th. Piper Jaffray Companies reissued a buy rating on shares of bluebird bio in a research report on Thursday, August 2nd. Finally, BMO Capital Markets reissued a buy rating and set a $208.00 price objective on shares of bluebird bio in a research report on Friday, August 3rd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and sixteen have issued a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $209.74.
NASDAQ BLUE opened at $136.10 on Friday. bluebird bio has a twelve month low of $102.21 and a twelve month high of $236.17. The stock has a market cap of $7.19 billion, a P/E ratio of -17.65 and a beta of 2.31.
bluebird bio (NASDAQ:BLUE) last posted its quarterly earnings data on Thursday, November 1st. The biotechnology company reported ($2.73) earnings per share for the quarter, topping the consensus estimate of ($2.90) by $0.17. bluebird bio had a negative return on equity of 31.50% and a negative net margin of 1,326.02%. The business had revenue of $11.50 million during the quarter, compared to analysts’ expectations of $6.90 million. During the same quarter in the previous year, the firm earned ($1.73) EPS. The firm’s revenue was up 49.2% compared to the same quarter last year. Analysts forecast that bluebird bio will post -10.85 earnings per share for the current fiscal year.
In related news, insider Jeffrey T. Walsh sold 1,500 shares of the business’s stock in a transaction dated Friday, August 10th. The stock was sold at an average price of $156.93, for a total transaction of $235,395.00. Following the transaction, the insider now directly owns 36,995 shares in the company, valued at $5,805,625.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alison Cecily Finger sold 259 shares of the business’s stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $158.07, for a total value of $40,940.13. The disclosure for this sale can be found here. Insiders have sold 39,559 shares of company stock worth $6,479,278 over the last 90 days. Corporate insiders own 3.00% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Casdin Capital LLC grew its stake in shares of bluebird bio by 37.9% in the 2nd quarter. Casdin Capital LLC now owns 200,000 shares of the biotechnology company’s stock valued at $31,390,000 after purchasing an additional 55,000 shares during the period. Bank of America Corp DE grew its stake in shares of bluebird bio by 26.6% in the 2nd quarter. Bank of America Corp DE now owns 155,890 shares of the biotechnology company’s stock valued at $24,467,000 after purchasing an additional 32,724 shares during the period. Vident Investment Advisory LLC grew its stake in shares of bluebird bio by 37.0% in the 2nd quarter. Vident Investment Advisory LLC now owns 13,501 shares of the biotechnology company’s stock valued at $2,119,000 after purchasing an additional 3,643 shares during the period. DAFNA Capital Management LLC bought a new stake in shares of bluebird bio in the 2nd quarter valued at approximately $628,000. Finally, Jennison Associates LLC grew its stake in shares of bluebird bio by 1.9% in the 2nd quarter. Jennison Associates LLC now owns 512,740 shares of the biotechnology company’s stock valued at $80,475,000 after purchasing an additional 9,677 shares during the period. Institutional investors own 98.63% of the company’s stock.
About bluebird bio
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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