bluebird bio (BLUE) Now Covered by Canaccord Genuity
Investment analysts at Canaccord Genuity initiated coverage on shares of bluebird bio (NASDAQ:BLUE) in a report issued on Tuesday. The brokerage set a “buy” rating and a $202.00 price target on the biotechnology company’s stock. Canaccord Genuity’s price objective suggests a potential upside of 24.46% from the stock’s previous close.
A number of other equities research analysts also recently issued reports on the stock. Maxim Group increased their price target on shares of bluebird bio from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, November 30th. SunTrust Banks increased their price target on shares of bluebird bio from $108.00 to $163.00 and gave the stock a “buy” rating in a report on Friday, November 3rd. Jefferies Group reissued a “hold” rating and issued a $130.00 price target on shares of bluebird bio in a report on Friday, November 3rd. Morgan Stanley raised shares of bluebird bio from an “underweight” rating to an “equal weight” rating in a report on Friday, November 3rd. Finally, Barclays increased their price target on shares of bluebird bio from $151.00 to $162.00 and gave the stock an “overweight” rating in a report on Thursday, November 2nd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $135.68.
Shares of bluebird bio (NASDAQ:BLUE) traded down $8.80 during trading hours on Tuesday, reaching $162.30. 722,800 shares of the company’s stock were exchanged, compared to its average volume of 826,436. bluebird bio has a 12-month low of $60.95 and a 12-month high of $174.65.
bluebird bio (NASDAQ:BLUE) last announced its quarterly earnings results on Wednesday, November 1st. The biotechnology company reported ($1.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.68) by ($0.05). bluebird bio had a negative return on equity of 28.79% and a negative net margin of 883.18%. The firm had revenue of $7.71 million during the quarter, compared to analysts’ expectations of $8.47 million. During the same period in the previous year, the company posted ($2.07) earnings per share. The company’s quarterly revenue was up 397.4% compared to the same quarter last year. sell-side analysts expect that bluebird bio will post -6.68 EPS for the current fiscal year.
In related news, insider David Davidson sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $131.31, for a total value of $525,240.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Jeffrey T. Walsh sold 4,900 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $125.73, for a total transaction of $616,077.00. Following the completion of the sale, the insider now directly owns 32,205 shares in the company, valued at $4,049,134.65. The disclosure for this sale can be found here. Insiders sold 106,918 shares of company stock worth $15,181,462 over the last ninety days. 3.90% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Ladenburg Thalmann Financial Services Inc. grew its position in bluebird bio by 454.2% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 992 shares of the biotechnology company’s stock valued at $136,000 after acquiring an additional 813 shares during the last quarter. QS Investors LLC grew its position in bluebird bio by 70.7% during the second quarter. QS Investors LLC now owns 1,207 shares of the biotechnology company’s stock valued at $127,000 after acquiring an additional 500 shares during the last quarter. Biondo Investment Advisors LLC bought a new position in bluebird bio during the third quarter valued at approximately $203,000. World Asset Management Inc bought a new position in bluebird bio during the third quarter valued at approximately $230,000. Finally, Bank of Montreal Can grew its position in bluebird bio by 118.9% during the second quarter. Bank of Montreal Can now owns 1,677 shares of the biotechnology company’s stock valued at $176,000 after acquiring an additional 911 shares during the last quarter.
bluebird bio Company Profile
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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