bluebird bio, Inc. (BLUE) Earns Buy Rating from Goldman Sachs Group, Inc. (The)
bluebird bio, Inc. (NASDAQ:BLUE)‘s stock had its “buy” rating reissued by equities research analysts at Goldman Sachs Group, Inc. (The) in a report released on Friday, MarketBeat.com reports. They presently have a $186.00 price objective on the biotechnology company’s stock. Goldman Sachs Group, Inc. (The)’s target price would suggest a potential upside of 45.65% from the stock’s previous close.
Several other brokerages also recently issued reports on BLUE. Evercore ISI initiated coverage on shares of bluebird bio in a research note on Wednesday, August 16th. They issued an “in-line” rating and a $102.00 price objective for the company. Barclays PLC initiated coverage on shares of bluebird bio in a research note on Wednesday, September 6th. They issued an “overweight” rating and a $151.00 price objective for the company. Wedbush reissued an “outperform” rating and issued a $135.00 price objective (up previously from $121.00) on shares of bluebird bio in a research note on Friday, September 1st. BTIG Research downgraded shares of bluebird bio from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $37.05 to $108.25 in a research note on Friday, June 30th. Finally, Cowen and Company reissued an “outperform” rating on shares of bluebird bio in a research note on Friday, June 9th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $113.41.
Shares of bluebird bio (NASDAQ:BLUE) traded up 1.39% on Friday, reaching $127.75. The company had a trading volume of 516,705 shares. bluebird bio has a 52 week low of $37.05 and a 52 week high of $143.50. The stock’s 50 day moving average is $120.48 and its 200 day moving average is $100.49. The firm’s market capitalization is $5.82 billion.
bluebird bio (NASDAQ:BLUE) last announced its quarterly earnings data 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). The firm had revenue of $16.70 million during the quarter, compared to the consensus estimate of $6.29 million. bluebird bio had a negative return on equity of 32.19% and a negative net margin of 1,080.59%. The firm’s revenue for the quarter was up 977.4% on a year-over-year basis. During the same period in the previous year, the business earned ($1.59) EPS. On average, equities analysts anticipate that bluebird bio will post ($6.85) EPS for the current year.
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In other bluebird bio news, insider Jeffrey T. Walsh sold 2,500 shares of bluebird bio stock in a transaction on Monday, July 10th. The shares were sold at an average price of $99.89, for a total value of $249,725.00. Following the transaction, the insider now directly owns 29,805 shares of the company’s stock, valued at $2,977,221.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James Mandell sold 1,000 shares of bluebird bio stock in a transaction on Monday, August 14th. The stock was sold at an average price of $95.95, for a total transaction of $95,950.00. Following the completion of the transaction, the director now directly owns 1,000 shares in the company, valued at $95,950. The disclosure for this sale can be found here. Over the last three months, insiders have sold 129,379 shares of company stock worth $15,651,533. 3.90% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BLUE. Russell Investments Group Ltd. grew its holdings in bluebird bio by 42.1% in the first quarter. Russell Investments Group Ltd. now owns 33,823 shares of the biotechnology company’s stock worth $3,074,000 after purchasing an additional 10,027 shares during the last quarter. Great West Life Assurance Co. Can grew its holdings in bluebird bio by 28.5% in the first quarter. Great West Life Assurance Co. Can now owns 4,509 shares of the biotechnology company’s stock worth $409,000 after purchasing an additional 1,000 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in bluebird bio by 10.7% in the first quarter. Bank of New York Mellon Corp now owns 228,663 shares of the biotechnology company’s stock worth $20,787,000 after purchasing an additional 22,011 shares during the last quarter. Karp Capital Management Corp purchased a new position in bluebird bio in the first quarter worth $410,000. Finally, Parametric Portfolio Associates LLC grew its holdings in bluebird bio by 11.5% in the first quarter. Parametric Portfolio Associates LLC now owns 22,743 shares of the biotechnology company’s stock worth $2,067,000 after purchasing an additional 2,338 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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