bluebird bio (BLUE) PT Raised to $200.00
bluebird bio (NASDAQ:BLUE) had its price target hoisted by investment analysts at Maxim Group from $170.00 to $200.00 in a research report issued to clients and investors on Thursday. The brokerage currently has a “buy” rating on the biotechnology company’s stock. Maxim Group’s target price would indicate a potential upside of 16.89% from the company’s current price.
The analysts wrote, “The approvals of Yescarta and Kymriah combined with Gilead’s acquisition of Kite have ushered in a paradigm shift in oncology. T- cell therapies (CAR- T, TCR, other) are here to stay. We attended the GE Manufacturing summit in Beijing (Cell Therapy Regulatory & Technology”) earlier this month and it became evident that manufacturing obstacles will be overcome. The days of Dendreon’s debacle are long past. Remember too that gene therapy is not far behind as Spark’s Luxterna is expected to be approved in January 2018 with a seven-figure price tag.””
Other equities analysts also recently issued reports about the company. BMO Capital Markets restated a “buy” rating and issued a $108.00 target price on shares of bluebird bio in a research note on Friday, August 4th. Jefferies Group restated a “buy” rating and issued a $88.00 target price on shares of bluebird bio in a research note on Friday, August 11th. Goldman Sachs Group restated a “buy” rating and issued a $186.00 target price on shares of bluebird bio in a research note on Friday, October 6th. BTIG Research upgraded bluebird bio from a “neutral” rating to a “buy” rating and set a $177.00 target price for the company in a research note on Thursday, November 2nd. Finally, SunTrust Banks lifted their target price on bluebird bio from $108.00 to $163.00 and gave the company a “buy” rating in a research note on Friday, November 3rd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $134.35.
bluebird bio (BLUE) traded down $1.70 during trading hours on Thursday, reaching $171.10. The company had a trading volume of 630,493 shares, compared to its average volume of 597,139. bluebird bio has a fifty-two week low of $60.95 and a fifty-two week high of $174.65.
bluebird bio (NASDAQ:BLUE) last posted its quarterly earnings results on Wednesday, November 1st. The biotechnology company reported ($1.73) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.68) by ($0.05). The firm had revenue of $7.71 million during the quarter, compared to analyst estimates of $8.47 million. bluebird bio had a negative return on equity of 28.79% and a negative net margin of 883.18%. The firm’s revenue for the quarter was up 397.4% on a year-over-year basis. During the same quarter last year, the business posted ($2.07) earnings per share. analysts anticipate that bluebird bio will post -6.68 EPS for the current fiscal year.
In related news, Director Mark Vachon sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $126.82, for a total transaction of $760,920.00. Following the sale, the director now owns 8,000 shares of the company’s stock, valued at $1,014,560. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jeffrey T. Walsh sold 4,900 shares of the company’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $125.73, for a total value of $616,077.00. Following the completion of the transaction, the insider now directly owns 32,205 shares in the company, valued at approximately $4,049,134.65. The disclosure for this sale can be found here. In the last three months, insiders have sold 106,918 shares of company stock worth $15,181,462. 3.90% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of BLUE. Dimensional Fund Advisors LP increased its holdings in shares of bluebird bio by 24.5% in the first quarter. Dimensional Fund Advisors LP now owns 84,961 shares of the biotechnology company’s stock valued at $7,723,000 after buying an additional 16,741 shares in the last quarter. Bank of Montreal Can increased its holdings in shares of bluebird bio by 118.9% in the second quarter. Bank of Montreal Can now owns 1,677 shares of the biotechnology company’s stock valued at $176,000 after buying an additional 911 shares in the last quarter. Aperio Group LLC grew its position in bluebird bio by 10.9% during the 2nd quarter. Aperio Group LLC now owns 5,001 shares of the biotechnology company’s stock worth $525,000 after purchasing an additional 491 shares in the last quarter. Russell Investments Group Ltd. grew its position in bluebird bio by 15.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 38,882 shares of the biotechnology company’s stock worth $4,084,000 after purchasing an additional 5,059 shares in the last quarter. Finally, Strs Ohio grew its position in bluebird bio by 25.4% during the 2nd quarter. Strs Ohio now owns 7,400 shares of the biotechnology company’s stock worth $777,000 after purchasing an additional 1,500 shares in the last quarter.
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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