BidaskClub lowered shares of bluebird bio (NASDAQ:BLUE) from a hold rating to a sell rating in a report published on Wednesday.
A number of other analysts have also weighed in on the stock. Evercore ISI raised shares of bluebird bio from an in-line rating to an outperform rating and raised their price target for the company from $175.00 to $230.00 in a report on Tuesday, June 19th. Cantor Fitzgerald raised shares of bluebird bio from an underweight rating to an overweight rating in a research note on Monday, June 4th. Piper Jaffray Companies set a $240.00 price objective on shares of bluebird bio and gave the company a buy rating in a research note on Tuesday, June 5th. Cowen reaffirmed a buy rating on shares of bluebird bio in a research note on Monday, June 4th. Finally, Sanford C. Bernstein reaffirmed a market perform rating and issued a $211.00 price objective on shares of bluebird bio in a research note on Monday, May 7th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $208.70.
Shares of bluebird bio opened at $156.95 on Wednesday, Marketbeat Ratings reports. bluebird bio has a fifty-two week low of $85.65 and a fifty-two week high of $236.17.
bluebird bio (NASDAQ:BLUE) last issued its quarterly earnings results on Monday, May 7th. The biotechnology company reported ($2.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.01) by ($0.30). The company had revenue of $15.96 million during the quarter, compared to analyst estimates of $5.85 million. bluebird bio had a negative net margin of 857.55% and a negative return on equity of 27.61%. The business’s revenue for the quarter was up 133.7% on a year-over-year basis. During the same period in the prior year, the business earned ($1.68) EPS. analysts forecast that bluebird bio will post -9.33 EPS for the current fiscal year.
In other news, insider David Davidson sold 22,000 shares of bluebird bio stock in a transaction on Monday, April 2nd. The shares were sold at an average price of $167.52, for a total transaction of $3,685,440.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mark Vachon sold 6,000 shares of bluebird bio stock in a transaction on Monday, June 4th. The stock was sold at an average price of $188.22, for a total transaction of $1,129,320.00. Following the transaction, the director now directly owns 3,000 shares in the company, valued at $564,660. The disclosure for this sale can be found here. Over the last three months, insiders have sold 65,401 shares of company stock worth $11,687,802. Insiders own 3.00% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Two Sigma Advisers LP lifted its position in bluebird bio by 3,004.0% in the 4th quarter. Two Sigma Advisers LP now owns 462,500 shares of the biotechnology company’s stock valued at $82,371,000 after acquiring an additional 447,600 shares in the last quarter. Redmile Group LLC bought a new stake in bluebird bio in the 4th quarter valued at $46,270,000. Franklin Resources Inc. lifted its position in bluebird bio by 41.3% in the 4th quarter. Franklin Resources Inc. now owns 686,900 shares of the biotechnology company’s stock valued at $122,337,000 after acquiring an additional 200,900 shares in the last quarter. Carillon Tower Advisers Inc. bought a new stake in bluebird bio in the 4th quarter valued at $27,213,000. Finally, Element Capital Management LLC bought a new stake in bluebird bio in the 4th quarter valued at $23,592,000.
bluebird bio Company Profile
bluebird bio, Inc, a clinical-stage biotechnology company, focuses on developing transformative gene therapies for severe genetic diseases and cancer. Its product candidates include Lenti-D that is in Phase II/III clinical trials for the treatment of cerebral adrenoleukodystrophy, a rare hereditary neurological disorder; and LentiGlobin, which is in various clinical studies for the treatment of transfusion- transfusion-dependent ß-thalassemia and severe sickle cell disease.
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