bluebird bio, Inc. (NASDAQ:BLUE) Receives $18.00 Consensus Price Target from Brokerages

bluebird bio, Inc. (NASDAQ:BLUE) has earned a consensus recommendation of “Hold” from the nineteen analysts that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $18.00.

A number of equities research analysts have weighed in on the company. Barclays lowered their price objective on bluebird bio from $20.00 to $13.00 and set an “equal weight” rating for the company in a research note on Monday, November 8th. reduced their target price on bluebird bio from $20.00 to $15.00 and set a “hold” rating on the stock in a report on Monday, November 8th. Wells Fargo & Company reduced their target price on bluebird bio from $25.00 to $16.00 and set an “equal weight” rating on the stock in a report on Monday, November 8th. Mizuho reduced their target price on bluebird bio from $29.00 to $23.00 and set a “buy” rating on the stock in a report on Wednesday, September 22nd. Finally, Wedbush reduced their target price on bluebird bio from $22.00 to $11.00 and set a “neutral” rating on the stock in a report on Monday, November 8th.

In other bluebird bio news, CAO Jessica Whitten sold 2,984 shares of bluebird bio stock in a transaction on Wednesday, January 5th. The stock was sold at an average price of $10.44, for a total transaction of $31,152.96. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Andrew Obenshain sold 3,042 shares of bluebird bio stock in a transaction on Monday, January 10th. The shares were sold at an average price of $9.36, for a total value of $28,473.12. The disclosure for this sale can be found here. In the last three months, insiders sold 10,941 shares of company stock worth $106,476. Company insiders own 2.90% of the company’s stock.

A number of institutional investors have recently made changes to their positions in BLUE. Advisor Group Holdings Inc. raised its stake in bluebird bio by 4.1% during the 2nd quarter. Advisor Group Holdings Inc. now owns 12,256 shares of the biotechnology company’s stock valued at $391,000 after acquiring an additional 478 shares in the last quarter. Envestnet Asset Management Inc. bought a new stake in bluebird bio during the 2nd quarter valued at $208,000. Teacher Retirement System of Texas increased its position in shares of bluebird bio by 17.7% during the 2nd quarter. Teacher Retirement System of Texas now owns 8,625 shares of the biotechnology company’s stock valued at $276,000 after purchasing an additional 1,299 shares during the period. US Bancorp DE increased its position in shares of bluebird bio by 12.7% during the 2nd quarter. US Bancorp DE now owns 7,106 shares of the biotechnology company’s stock valued at $227,000 after purchasing an additional 803 shares during the period. Finally, Rhumbline Advisers increased its position in shares of bluebird bio by 36.0% during the 2nd quarter. Rhumbline Advisers now owns 97,648 shares of the biotechnology company’s stock valued at $3,123,000 after purchasing an additional 25,838 shares during the period. 73.59% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ BLUE opened at $8.73 on Wednesday. bluebird bio has a fifty-two week low of $8.12 and a fifty-two week high of $52.80. The business has a 50 day moving average price of $10.34 and a two-hundred day moving average price of $17.94.

bluebird bio (NASDAQ:BLUE) last issued its quarterly earnings data on Friday, November 5th. The biotechnology company reported ($3.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.65) by ($0.51). bluebird bio had a negative net margin of 1,610.78% and a negative return on equity of 76.93%. The business had revenue of $22.70 million for the quarter, compared to analyst estimates of $39.07 million. During the same quarter last year, the business earned ($2.94) EPS. bluebird bio’s revenue for the quarter was up 17.6% compared to the same quarter last year. Equities analysts expect that bluebird bio will post -11.38 earnings per share for the current fiscal year.

bluebird bio Company Profile

bluebird bio, Inc is a clinical-stage biotechnology company, which engages in the development of potential gene therapies for severe genetic diseases and cancer. Its integrated product platform includes gene therapy, cancer immunotherapy and gene editing. Its product pipeline includes Lenti-D, LentiGlobin, BCL11a shRNA, bb2121, and bb21217.

Further Reading: Dead Cat Bounce

Analyst Recommendations for bluebird bio (NASDAQ:BLUE)

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