bluebird bio, Inc. (NASDAQ:BLUE) Earns “Buy” Rating from Jefferies Group LLC
bluebird bio, Inc. (NASDAQ:BLUE)‘s stock had its “buy” rating restated by investment analysts at Jefferies Group LLC in a research report issued to clients and investors on Friday. They presently have a $88.00 target price on the biotechnology company’s stock. Jefferies Group LLC’s price target indicates a potential downside of 6.33% from the stock’s current price.
Several other research analysts have also issued reports on the company. BTIG Research restated a “buy” rating on shares of bluebird bio in a research report on Monday, May 1st. Cantor Fitzgerald set a $37.00 price target on bluebird bio and gave the company a “sell” rating in a report on Monday, June 5th. Zacks Investment Research upgraded bluebird bio from a “sell” rating to a “hold” rating in a report on Monday, May 8th. Maxim Group upgraded bluebird bio from a “hold” rating to a “buy” rating and set a $100.00 price target for the company in a report on Friday, June 2nd. Finally, Bank of America Corporation reiterated a “hold” rating and issued a $95.00 price target on shares of bluebird bio in a report on Monday, June 5th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $100.66.
bluebird bio (NASDAQ BLUE) opened at 93.95 on Friday. bluebird bio has a 52-week low of $37.05 and a 52-week high of $123.75. The firm’s 50-day moving average price is $98.52 and its 200-day moving average price is $90.12. The company’s market cap is $4.28 billion.
bluebird bio (NASDAQ:BLUE) last announced its earnings results on Wednesday, August 2nd. The biotechnology company reported ($1.73) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.66) by $0.07. bluebird bio had a negative net margin of 1,080.59% and a negative return on equity of 32.19%. The business had revenue of $16.70 million for the quarter, compared to analysts’ expectations of $6.29 million. During the same quarter last year, the firm earned ($1.59) EPS. The firm’s quarterly revenue was up 977.4% on a year-over-year basis. On average, equities analysts anticipate that bluebird bio will post ($6.78) EPS for the current year.
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In other news, insider Philip D. Gregory sold 750 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $99.00, for a total transaction of $74,250.00. Following the sale, the insider now directly owns 31,234 shares of the company’s stock, valued at $3,092,166. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Nick Leschly sold 25,000 shares of the business’s stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $108.05, for a total transaction of $2,701,250.00. Following the sale, the insider now directly owns 360,656 shares in the company, valued at $38,968,880.80. The disclosure for this sale can be found here. Insiders have sold 77,856 shares of company stock worth $8,093,145 over the last three months. Corporate insiders own 3.90% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Bank of Montreal Can raised its stake in 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 during the last quarter. Turner Investments LLC acquired a new stake in bluebird bio during the second quarter valued at approximately $184,000. SG Americas Securities LLC raised its stake in bluebird bio by 17.9% in the second quarter. SG Americas Securities LLC now owns 1,945 shares of the biotechnology company’s stock valued at $204,000 after buying an additional 295 shares during the last quarter. Affinity Investment Advisors LLC acquired a new stake in bluebird bio during the second quarter valued at approximately $246,000. Finally, First Mercantile Trust Co. raised its stake in bluebird bio by 14.4% in the first quarter. First Mercantile Trust Co. now owns 2,897 shares of the biotechnology company’s stock valued at $263,000 after buying an additional 365 shares during 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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