BidaskClub Downgrades bluebird bio (BLUE) to Buy

bluebird bio (NASDAQ:BLUE) was downgraded by BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued on Tuesday.

Several other analysts also recently weighed in on BLUE. Leerink Swann reissued an “outperform” rating and issued a $120.00 price target on shares of bluebird bio in a research note on Saturday, September 30th. Oppenheimer reissued a “hold” rating on shares of bluebird bio in a research note on Tuesday, January 9th. Morgan Stanley downgraded shares of bluebird bio from an “equal weight” rating to an “underweight” rating and set a $105.00 price target for the company. in a research note on Monday, October 2nd. Maxim Group reissued a “buy” rating and issued a $170.00 price target on shares of bluebird bio in a research note on Thursday, November 2nd. Finally, CIBC began coverage on shares of bluebird bio in a research note on Thursday, December 21st. They issued a “market perform” rating for the company. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $157.45.

bluebird bio (BLUE) traded up $11.90 during trading on Tuesday, reaching $175.25. 1,806,300 shares of the company’s stock traded hands, compared to its average volume of 841,291. The company has a market capitalization of $7,980.00, a P/E ratio of -25.00 and a beta of 2.08. bluebird bio has a 1-year low of $64.15 and a 1-year high of $222.03.

bluebird bio (NASDAQ:BLUE) last posted 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). The business had revenue of $7.71 million during the quarter, compared to the consensus estimate of $8.47 million. bluebird bio had a negative return on equity of 28.79% and a negative net margin of 883.18%. The business’s revenue for the quarter was up 397.4% on a year-over-year basis. During the same period in the prior year, the firm earned ($2.07) earnings per share. equities research analysts forecast that bluebird bio will post -6.72 EPS for the current year.

In other news, CEO Nick Leschly sold 3,350 shares of the company’s stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $145.02, for a total transaction of $485,817.00. Following the completion of the transaction, the chief executive officer now directly owns 259,059 shares of the company’s stock, valued at $37,568,736.18. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jeffrey T. Walsh sold 35,000 shares of the company’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $151.38, for a total transaction of $5,298,300.00. Following the transaction, the insider now directly owns 62,305 shares of the company’s stock, valued at $9,431,730.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 211,445 shares of company stock valued at $37,326,831. Insiders own 3.90% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. Hanseatic Management Services Inc. raised its stake in bluebird bio by 0.3% in the second quarter. Hanseatic Management Services Inc. now owns 10,436 shares of the biotechnology company’s stock worth $1,096,000 after buying an additional 27 shares in the last quarter. Cornerstone Capital Management Holdings LLC. raised its stake in bluebird bio by 0.8% in the second quarter. Cornerstone Capital Management Holdings LLC. now owns 17,955 shares of the biotechnology company’s stock worth $1,885,000 after buying an additional 140 shares in the last quarter. Prudential Financial Inc. raised its stake in bluebird bio by 4.0% in the second quarter. Prudential Financial Inc. now owns 3,882 shares of the biotechnology company’s stock worth $408,000 after buying an additional 150 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in bluebird bio by 0.5% in the second quarter. The Manufacturers Life Insurance Company now owns 31,433 shares of the biotechnology company’s stock worth $3,302,000 after buying an additional 151 shares in the last quarter. Finally, Amalgamated Bank raised its stake in bluebird bio by 3.3% in the second quarter. Amalgamated Bank now owns 5,232 shares of the biotechnology company’s stock worth $550,000 after buying an additional 168 shares in the last quarter.

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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).

Analyst Recommendations for bluebird bio (NASDAQ:BLUE)

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