bluebird bio (NASDAQ:BLUE)‘s stock had its “neutral” rating reaffirmed by Cantor Fitzgerald in a note issued to investors on Friday, February 22nd, MarketBeat reports. They presently have a $122.00 price objective on the biotechnology company’s stock, down from their prior price objective of $134.00. Cantor Fitzgerald’s price target indicates a potential downside of 20.56% from the stock’s previous close.
BLUE has been the subject of a number of other reports. Zacks Investment Research cut bluebird bio from a “hold” rating to a “sell” rating in a research note on Tuesday, January 8th. ValuEngine cut bluebird bio from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 2nd. Canaccord Genuity reissued a “buy” rating and set a $161.00 target price (down from $250.00) on shares of bluebird bio in a research note on Wednesday, January 23rd. Oppenheimer reissued a “hold” rating on shares of bluebird bio in a research note on Friday, January 11th. Finally, Piper Jaffray Companies cut shares of bluebird bio from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $240.00 to $120.00 in a research note on Thursday, December 6th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $168.12.
bluebird bio stock traded down $2.52 during trading hours on Friday, reaching $153.58. 258,391 shares of the company’s stock traded hands, compared to its average volume of 559,355. The company has a market cap of $8.58 billion, a PE ratio of -14.38 and a beta of 2.64. bluebird bio has a fifty-two week low of $87.49 and a fifty-two week high of $199.70.
bluebird bio (NASDAQ:BLUE) last announced its quarterly earnings results on Thursday, February 21st. The biotechnology company reported ($2.72) EPS for the quarter, beating analysts’ consensus estimates of ($2.83) by $0.11. The company had revenue of $19.20 million during the quarter, compared to analysts’ expectations of $9.06 million. bluebird bio had a negative return on equity of 32.15% and a negative net margin of 1,018.02%. bluebird bio’s revenue was up 357.1% on a year-over-year basis. During the same period in the prior year, the business posted ($2.52) EPS. On average, research analysts expect that bluebird bio will post -11.67 earnings per share for the current fiscal year.
In other news, insider Jeffrey T. Walsh sold 1,500 shares of bluebird bio stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $139.80, for a total transaction of $209,700.00. Following the sale, the insider now directly owns 42,421 shares of the company’s stock, valued at $5,930,455.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David Davidson sold 7,600 shares of bluebird bio stock in a transaction dated Thursday, January 3rd. The shares were sold at an average price of $98.82, for a total value of $751,032.00. Following the sale, the insider now directly owns 15,559 shares in the company, valued at $1,537,540.38. The disclosure for this sale can be found here. Insiders sold 42,438 shares of company stock worth $5,486,744 in the last 90 days. 3.00% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the company. Cornerstone Advisors Inc. lifted its stake in shares of bluebird bio by 1,540.0% in the fourth quarter. Cornerstone Advisors Inc. now owns 328 shares of the biotechnology company’s stock worth $33,000 after acquiring an additional 308 shares during the period. Exane Derivatives acquired a new position in shares of bluebird bio in the fourth quarter worth approximately $34,000. Stratos Wealth Partners LTD. acquired a new position in shares of bluebird bio in the third quarter worth approximately $106,000. Belpointe Asset Management LLC acquired a new position in shares of bluebird bio in the third quarter worth approximately $110,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in shares of bluebird bio by 36.6% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,104 shares of the biotechnology company’s stock worth $110,000 after acquiring an additional 296 shares during the period.
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 in severe genetic diseases include LentiGlobin, which is in various clinical studies for the treatment of transfusion-dependent ß-thalassemia and severe sickle cell disease; and Lenti-D that is in Phase II/III clinical trials for the treatment of cerebral adrenoleukodystrophy, a rare hereditary neurological disorder.
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