bluebird bio, Inc. (BLUE) Stock Rating Reaffirmed by Wedbush
bluebird bio, Inc. (NASDAQ:BLUE)‘s stock had its “outperform” rating reiterated by Wedbush in a report released on Thursday. They presently have a $174.00 price objective on the biotechnology company’s stock, up from their previous price objective of $135.00. Wedbush’s target price would suggest a potential upside of 25.09% from the stock’s current price.
Other equities analysts also recently issued reports about the stock. Jefferies Group LLC reaffirmed a “buy” rating on shares of bluebird bio in a report on Thursday, July 6th. Cantor Fitzgerald reiterated a “sell” rating and issued a $58.00 target price on shares of bluebird bio in a research report on Wednesday. Leerink Swann reiterated an “outperform” rating and issued a $162.00 target price (up from $145.00) on shares of bluebird bio in a research report on Wednesday. BTIG Research upgraded shares of bluebird bio from a “neutral” rating to a “buy” rating and set a $177.00 target price for the company in a research report on Thursday. Finally, Sanford C. Bernstein assumed coverage on shares of bluebird bio in a research report on Thursday, July 27th. They issued a “market perform” rating and a $109.00 target price for the company. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $128.70.
bluebird bio (NASDAQ:BLUE) last posted 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 company had revenue of $16.70 million for the quarter, compared to analysts’ expectations of $6.29 million. bluebird bio had a negative net margin of 1,080.59% and a negative return on equity of 32.19%. The business’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) earnings per share.
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In related news, CEO Nick Leschly sold 3,350 shares of the firm’s stock in a transaction on Friday, October 20th. The stock was sold at an average price of $145.02, for a total transaction of $485,817.00. Following the transaction, the chief executive officer now directly owns 259,059 shares in the company, valued at $37,568,736.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeffrey T. Walsh sold 4,900 shares of the firm’s stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $129.94, for a total value of $636,706.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 150,002 shares of company stock valued at $18,840,335. Corporate insiders own 3.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of BLUE. BlackRock Inc. increased its position in bluebird bio by 44,948.0% in the first quarter. BlackRock Inc. now owns 3,182,188 shares of the biotechnology company’s stock worth $289,259,000 after buying an additional 3,175,124 shares during the period. FMR LLC increased its holdings in shares of bluebird bio by 9.6% during the second quarter. FMR LLC now owns 6,713,949 shares of the biotechnology company’s stock valued at $705,301,000 after purchasing an additional 587,236 shares during the period. Capital Research Global Investors increased its holdings in shares of bluebird bio by 9.9% during the second quarter. Capital Research Global Investors now owns 5,483,117 shares of the biotechnology company’s stock valued at $576,001,000 after purchasing an additional 493,072 shares during the period. Vanguard Group Inc. increased its holdings in shares of bluebird bio by 10.7% during the second quarter. Vanguard Group Inc. now owns 3,559,102 shares of the biotechnology company’s stock valued at $373,884,000 after purchasing an additional 343,856 shares during the period. Finally, American Century Companies Inc. acquired a new position in shares of bluebird bio during the third quarter valued at $31,170,000.
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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