Evercore ISI upgraded shares of bluebird bio (NASDAQ:BLUE) from an in-line rating to an outperform rating in a research report released on Tuesday, June 19th, MarketBeat reports. The brokerage currently has $230.00 price objective on the biotechnology company’s stock, up from their previous price objective of $175.00.
Several other analysts have also commented on the stock. Cantor Fitzgerald reissued a sell rating and set a $113.00 target price (down from $122.00) on shares of bluebird bio in a research note on Wednesday, February 21st. William Blair restated a buy rating on shares of bluebird bio in a research report on Friday, March 16th. Cowen reiterated a buy rating on shares of bluebird bio in a research note on Monday, June 4th. Zacks Investment Research lowered shares of bluebird bio from a hold rating to a sell rating in a research note on Monday, February 26th. Finally, Morgan Stanley restated an equal weight rating and set a $152.00 price target (up previously from $151.00) on shares of bluebird bio in a research note on Monday, February 26th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $208.70.
NASDAQ BLUE opened at $156.95 on Tuesday. bluebird bio has a 52 week low of $85.65 and a 52 week high of $236.17. The stock has a market capitalization of $7.77 billion, a price-to-earnings ratio of -20.36 and a beta of 2.16.
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). bluebird bio had a negative return on equity of 27.61% and a negative net margin of 857.55%. The company had revenue of $15.96 million during the quarter, compared to analyst estimates of $5.85 million. During the same period in the prior year, the company posted ($1.68) earnings per share. The company’s revenue was up 133.7% on a year-over-year basis. sell-side analysts forecast that bluebird bio will post -9.33 earnings per share for the current year.
In other bluebird bio news, insider David Davidson sold 22,000 shares of the firm’s stock in a transaction dated Monday, April 2nd. The shares were sold at an average price of $167.52, for a total value of $3,685,440.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Susanna Gatti High sold 3,500 shares of the firm’s stock in a transaction dated Monday, June 4th. The shares were sold at an average price of $199.11, for a total transaction of $696,885.00. Following the completion of the sale, the chief operating officer now owns 21,000 shares of the company’s stock, valued at approximately $4,181,310. The disclosure for this sale can be found here. Insiders have sold a total of 65,401 shares of company stock valued at $11,687,802 in the last quarter. 3.00% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of BLUE. Wealthcare Advisory Partners LLC acquired a new stake in shares of bluebird bio during the 1st quarter worth approximately $171,000. D.A. Davidson & CO. acquired a new stake in shares of bluebird bio during the 4th quarter worth approximately $214,000. Laurel Wealth Advisors Inc. acquired a new stake in shares of bluebird bio during the 1st quarter worth approximately $215,000. Quinn Opportunity Partners LLC acquired a new stake in shares of bluebird bio during the 4th quarter worth approximately $232,000. Finally, Clarius Group LLC acquired a new stake in shares of bluebird bio during the 4th quarter worth approximately $235,000.
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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