bluebird bio (NASDAQ:BLUE) was downgraded by analysts at Piper Jaffray Companies from an “overweight” rating to a “neutral” rating in a research note issued on Thursday, Marketbeat.com reports. They currently have a $120.00 target price on the biotechnology company’s stock, down from their prior target price of $240.00. Piper Jaffray Companies’ price objective suggests a potential upside of 17.38% from the company’s previous close.

A number of other equities research analysts have also weighed in on the stock. Morgan Stanley lowered 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 report on Monday, October 15th. Cantor Fitzgerald set a $122.00 price target on shares of bluebird bio and gave the company a “sell” rating in a report on Thursday, August 23rd. ValuEngine upgraded shares of bluebird bio from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 2nd. BidaskClub downgraded shares of bluebird bio from a “sell” rating to a “strong sell” rating in a research note on Tuesday, October 23rd. Finally, Goldman Sachs Group downgraded shares of bluebird bio from a “conviction-buy” rating to a “buy” rating in a research note on Friday, September 21st. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the company. bluebird bio has an average rating of “Buy” and a consensus price target of $194.80.

BLUE opened at $102.23 on Thursday. The firm has a market cap of $5.95 billion, a P/E ratio of -13.26 and a beta of 2.37. bluebird bio has a twelve month low of $100.99 and a twelve month high of $236.17.

bluebird bio (NASDAQ:BLUE) last released its quarterly earnings results on Thursday, November 1st. The biotechnology company reported ($2.73) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($2.90) by $0.17. The business had revenue of $11.50 million during the quarter, compared to analyst estimates of $6.90 million. bluebird bio had a negative net margin of 1,326.02% and a negative return on equity of 31.50%. The business’s revenue was up 49.2% on a year-over-year basis. During the same period last year, the business earned ($1.73) EPS. Equities analysts anticipate that bluebird bio will post -10.71 earnings per share for the current year.

In other news, Director James Mandell sold 1,000 shares of the firm’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $150.77, for a total value of $150,770.00. Following the transaction, the director now directly owns 1,568 shares in the company, valued at approximately $236,407.36. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jeffrey T. Walsh sold 1,500 shares of the firm’s stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $150.16, for a total transaction of $225,240.00. Following the completion of the transaction, the insider now owns 36,995 shares in the company, valued at $5,555,169.20. The disclosure for this sale can be found here. Insiders have sold a total of 21,490 shares of company stock worth $2,901,186 over the last quarter. 3.00% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the company. Stratos Wealth Partners LTD. bought a new position in shares of bluebird bio in the 3rd quarter worth about $106,000. Belpointe Asset Management LLC bought a new position in shares of bluebird bio in the 3rd quarter worth about $110,000. NuWave Investment Management LLC lifted its position in shares of bluebird bio by 10,811.1% in the 3rd quarter. NuWave Investment Management LLC now owns 982 shares of the biotechnology company’s stock worth $143,000 after buying an additional 973 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of bluebird bio by 635.0% in the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,154 shares of the biotechnology company’s stock worth $167,000 after buying an additional 997 shares during the last quarter. Finally, Tower Research Capital LLC TRC bought a new position in shares of bluebird bio in the 2nd quarter worth about $201,000.

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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