Wedbush Reaffirms “Outperform” Rating for bluebird bio, Inc. (BLUE)
bluebird bio, Inc. (NASDAQ:BLUE)‘s stock had its “outperform” rating reiterated by stock analysts at Wedbush in a report released on Friday. They presently have a $135.00 price objective on the biotechnology company’s stock, up from their previous price objective of $121.00. Wedbush’s target price suggests a potential upside of 8.13% from the stock’s previous close.
BLUE has been the topic of several other reports. Zacks Investment Research lowered shares of bluebird bio from a “buy” rating to a “hold” rating in a report on Tuesday, July 18th. Cantor Fitzgerald set a $37.00 price objective on shares of bluebird bio and gave the stock a “sell” rating in a report on Monday, June 5th. BTIG Research reiterated a “buy” rating and set a $112.00 price objective on shares of bluebird bio in a report on Thursday, June 1st. Morgan Stanley increased their price objective on shares of bluebird bio from $103.00 to $105.00 and gave the stock an “equal weight” rating in a report on Monday, August 7th. Finally, Cowen and Company reiterated a “buy” rating on shares of bluebird bio in a report on Friday, June 23rd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $102.68.
Shares of bluebird bio (NASDAQ BLUE) traded up 3.04% during trading on Friday, reaching $128.65. 632,364 shares of the company’s stock were exchanged. The stock has a 50 day moving average price of $97.31 and a 200-day moving average price of $92.81. bluebird bio has a 52 week low of $37.05 and a 52 week high of $130.20. The stock’s market capitalization is $5.87 billion.
bluebird bio (NASDAQ:BLUE) last released its quarterly 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 return on equity of 32.19% and a negative net margin of 1,080.59%. The firm had revenue of $16.70 million for the quarter, compared to analyst estimates of $6.29 million. During the same period in the prior year, the business earned ($1.59) earnings per share. bluebird bio’s revenue for the quarter was up 977.4% on a year-over-year basis. Analysts predict that bluebird bio will post ($6.82) earnings per share for the current year.
In other bluebird bio news, insider Philip D. Gregory sold 750 shares of the stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $99.00, for a total value of $74,250.00. Following the completion of the sale, the insider now 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 can be accessed through this hyperlink. Also, insider David Davidson sold 1,000 shares of the stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $90.00, for a total transaction of $90,000.00. Following the completion of the sale, the insider now directly owns 18,177 shares of the company’s stock, valued at approximately $1,635,930. The disclosure for this sale can be found here. Insiders sold 105,023 shares of company stock valued at $11,238,508 in the last ninety days. 3.90% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of BLUE. Macquarie Group Ltd. purchased a new stake in shares of bluebird bio during the fourth quarter valued at about $703,000. First Mercantile Trust Co. increased its stake in shares of 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 period. Strs Ohio increased its stake in shares of bluebird bio by 40.5% in the first quarter. Strs Ohio now owns 5,900 shares of the biotechnology company’s stock valued at $536,000 after buying an additional 1,700 shares during the period. Russell Investments Group Ltd. increased its stake in shares of bluebird bio by 42.1% in the first quarter. Russell Investments Group Ltd. now owns 33,823 shares of the biotechnology company’s stock valued at $3,074,000 after buying an additional 10,027 shares during the period. Finally, Great West Life Assurance Co. Can increased its stake in shares of 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 valued at $409,000 after buying an additional 1,000 shares during the period.
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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