bluebird bio (NASDAQ:BLUE) was upgraded by equities researchers at Jefferies Group from a “hold” rating to a “buy” rating in a research note issued on Monday, December 11th, Marketbeat Ratings reports. The firm presently has a $211.00 price objective on the biotechnology company’s stock, up from their prior price objective of $130.00. Jefferies Group’s price objective would indicate a potential upside of 16.00% from the stock’s current price. Jefferies Group also issued estimates for bluebird bio’s FY2019 earnings at ($6.25) EPS, FY2020 earnings at ($2.59) EPS and FY2021 earnings at $7.29 EPS.
A number of other equities research analysts have also issued reports on BLUE. Evercore ISI initiated coverage on shares of bluebird bio in a report on Wednesday, August 16th. They issued an “in-line” rating and a $102.00 price objective for the company. Cowen reaffirmed an “outperform” rating on shares of bluebird bio in a research report on Thursday, August 31st. Wedbush reaffirmed an “outperform” rating and issued a $135.00 target price (up previously from $121.00) on shares of bluebird bio in a research report on Friday, September 1st. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $158.00 target price (up previously from $134.00) on shares of bluebird bio in a research report on Tuesday, September 5th. Finally, Barclays assumed coverage on shares of bluebird bio in a research report on Wednesday, September 6th. They set an “overweight” rating and a $151.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $157.45.
Shares of bluebird bio (BLUE) traded up $3.80 during midday trading on Monday, reaching $181.90. 494,675 shares of the company traded hands, compared to its average volume of 999,721. bluebird bio has a 12 month low of $60.95 and a 12 month high of $222.03. The stock has a market cap of $8,340.00, a price-to-earnings ratio of -25.95 and a beta of 2.08.
bluebird bio (NASDAQ:BLUE) last released its earnings results on Wednesday, November 1st. The biotechnology company reported ($1.73) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.68) by ($0.05). bluebird bio had a negative return on equity of 28.79% and a negative net margin of 883.18%. The business had revenue of $7.71 million for the quarter, compared to analysts’ expectations of $8.47 million. During the same period in the previous year, the company earned ($2.07) EPS. bluebird bio’s quarterly revenue was up 397.4% compared to the same quarter last year. sell-side analysts anticipate that bluebird bio will post -6.72 EPS for the current fiscal year.
In related news, insider Jeffrey T. Walsh sold 4,900 shares of the stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $129.94, for a total transaction of $636,706.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Susanna Gatti High sold 1,282 shares of the firm’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $172.15, for a total value of $220,696.30. Following the completion of the sale, the chief operating officer now directly owns 13,718 shares of the company’s stock, valued at approximately $2,361,553.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 211,082 shares of company stock worth $36,702,092. Insiders own 3.90% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. FMR LLC increased its position in bluebird bio by 9.6% during the 2nd quarter. FMR LLC now owns 6,713,949 shares of the biotechnology company’s stock worth $705,301,000 after purchasing an additional 587,236 shares in the last quarter. Capital Research Global Investors increased its position in bluebird bio by 9.9% during the 2nd quarter. Capital Research Global Investors now owns 5,483,117 shares of the biotechnology company’s stock worth $576,001,000 after purchasing an additional 493,072 shares in the last quarter. Vanguard Group Inc. increased its position in bluebird bio by 10.7% during the 2nd quarter. Vanguard Group Inc. now owns 3,559,102 shares of the biotechnology company’s stock worth $373,884,000 after purchasing an additional 343,856 shares in the last quarter. Eagle Asset Management Inc. purchased a new stake in bluebird bio during the 3rd quarter worth about $29,539,000. Finally, American Century Companies Inc. purchased a new stake in bluebird bio during the 3rd quarter worth about $31,170,000.
About bluebird bio
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).
Receive News & Ratings for bluebird bio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for bluebird bio and related companies with MarketBeat.com's FREE daily email newsletter.