bluebird bio (BLUE) Given “Overweight” Rating at Barclays

bluebird bio (NASDAQ:BLUE)‘s stock had its “overweight” rating reissued by research analysts at Barclays in a research note issued to investors on Wednesday. They currently have a $209.00 price target on the biotechnology company’s stock, up from their prior price target of $162.00. Barclays’ target price suggests a potential upside of 9.45% from the stock’s previous close.

Several other equities research analysts have also weighed in on the company. Cowen restated an “outperform” rating on shares of bluebird bio in a research report on Thursday, August 31st. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $158.00 price objective (up previously from $134.00) on shares of bluebird bio in a research note on Tuesday, September 5th. Wedbush reaffirmed 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. Maxim Group reaffirmed a “buy” rating and issued a $170.00 price objective (up previously from $100.00) on shares of bluebird bio in a research note on Monday, October 9th. Finally, Leerink Swann reaffirmed an “outperform” rating and issued a $145.00 price objective (up previously from $120.00) on shares of bluebird bio in a research note on Friday, October 6th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the stock. bluebird bio currently has a consensus rating of “Hold” and an average target price of $157.45.

bluebird bio (NASDAQ BLUE) traded down $10.85 during midday trading on Wednesday, hitting $190.95. The company had a trading volume of 2,320,500 shares, compared to its average volume of 849,568. bluebird bio has a one year low of $60.95 and a one year high of $222.03.

bluebird bio (NASDAQ:BLUE) last released its quarterly earnings results on Wednesday, November 1st. The biotechnology company reported ($1.73) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.68) by ($0.05). bluebird bio had a negative net margin of 883.18% and a negative return on equity of 28.79%. The firm had revenue of $7.71 million for the quarter, compared to the consensus estimate of $8.47 million. During the same quarter in the prior year, the firm earned ($2.07) earnings per share. The company’s revenue for the quarter was up 397.4% compared to the same quarter last year. research analysts predict that bluebird bio will post -6.68 EPS for the current fiscal year.

In other news, insider Jeffrey T. Walsh sold 35,000 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $151.38, for a total value of $5,298,300.00. Following the sale, the insider now directly owns 62,305 shares in the company, valued at $9,431,730.90. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider David Davidson sold 4,000 shares of the stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $131.31, for a total value of $525,240.00. The disclosure for this sale can be found here. Insiders sold a total of 99,550 shares of company stock valued at $14,413,376 over the last ninety days. Corporate insiders own 3.90% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC raised its holdings in shares of bluebird bio by 9.6% in the second quarter. FMR LLC now owns 6,713,949 shares of the biotechnology company’s stock worth $705,301,000 after buying an additional 587,236 shares during the period. Capital Research Global Investors raised its holdings in shares of bluebird bio by 9.9% in the second quarter. Capital Research Global Investors now owns 5,483,117 shares of the biotechnology company’s stock worth $576,001,000 after buying an additional 493,072 shares during the period. Baillie Gifford & Co. raised its holdings in shares of bluebird bio by 3.8% in the second quarter. Baillie Gifford & Co. now owns 5,400,658 shares of the biotechnology company’s stock worth $567,339,000 after buying an additional 196,025 shares during the period. Vanguard Group Inc. raised its holdings in shares of bluebird bio by 10.7% in the second quarter. Vanguard Group Inc. now owns 3,559,102 shares of the biotechnology company’s stock worth $373,884,000 after buying an additional 343,856 shares during the period. Finally, BlackRock Inc. raised its holdings in shares of bluebird bio by 4.3% in the second quarter. BlackRock Inc. now owns 3,320,329 shares of the biotechnology company’s stock worth $348,801,000 after buying an additional 138,141 shares during the period.

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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).

Analyst Recommendations for bluebird bio (NASDAQ:BLUE)

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