bluebird bio’s (BLUE) “Outperform” Rating Reiterated at Wells Fargo & Company

Wells Fargo & Company reissued their outperform rating on shares of bluebird bio (NASDAQ:BLUE) in a research note released on Tuesday morning, The Fly reports. Wells Fargo & Company currently has a $242.00 target price on the biotechnology company’s stock, up from their previous target price of $190.00.

Several other analysts have also recently weighed in on the company. BMO Capital Markets set a $215.00 price target on bluebird bio and gave the company a buy rating in a report on Monday. Jefferies Group raised bluebird bio from a hold rating to a buy rating and raised their price target for the company from $130.00 to $211.00 in a report on Monday. Cantor Fitzgerald set a $113.00 price objective on bluebird bio and gave the company an underweight rating in a research report on Monday. Canaccord Genuity initiated coverage on bluebird bio in a research report on Tuesday, December 5th. They set a buy rating and a $202.00 price objective on the stock. Finally, Maxim Group increased their price objective on bluebird bio from $170.00 to $200.00 and gave the company a buy rating in a research report on Thursday, November 30th. Two research 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. The stock presently has a consensus rating of Hold and an average target price of $157.45.

bluebird bio (NASDAQ BLUE) traded down $0.55 during trading hours on Tuesday, hitting $184.35. The company’s stock had a trading volume of 1,719,500 shares, compared to its average volume of 866,462. bluebird bio has a 1 year low of $60.95 and a 1 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 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 business 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 business earned ($2.07) EPS. The business’s revenue was up 397.4% on a year-over-year basis. equities research analysts forecast that bluebird bio will post -6.72 earnings per share for the current year.

In other bluebird bio news, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeffrey T. Walsh sold 9,900 shares of the stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $216.54, for a total value of $2,143,746.00. Following the completion of the sale, the insider now owns 37,205 shares of the company’s stock, valued at approximately $8,056,370.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 97,582 shares of company stock worth $15,597,932. 3.90% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BLUE. Dimensional Fund Advisors LP lifted its holdings in bluebird bio by 24.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 84,961 shares of the biotechnology company’s stock worth $7,723,000 after buying an additional 16,741 shares during the period. Bank of Montreal Can lifted its holdings in bluebird bio by 118.9% in the 2nd quarter. Bank of Montreal Can now owns 1,677 shares of the biotechnology company’s stock worth $176,000 after buying an additional 911 shares during the period. Aperio Group LLC lifted its holdings in bluebird bio by 10.9% in the 2nd quarter. Aperio Group LLC now owns 5,001 shares of the biotechnology company’s stock worth $525,000 after buying an additional 491 shares during the period. Russell Investments Group Ltd. lifted its holdings in bluebird bio by 15.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 38,882 shares of the biotechnology company’s stock worth $4,084,000 after buying an additional 5,059 shares during the period. Finally, Strs Ohio lifted its holdings in bluebird bio by 25.4% in the 2nd quarter. Strs Ohio now owns 7,400 shares of the biotechnology company’s stock worth $777,000 after buying an additional 1,500 shares during the period.

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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).

The Fly

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