bluebird bio (NASDAQ:BLUE – Get Free Report)’s stock had its “neutral” rating restated by equities researchers at Wedbush in a note issued to investors on Monday, RTT News reports. They currently have a $3.00 price objective on the biotechnology company’s stock. Wedbush’s target price indicates a potential upside of 104.08% from the stock’s previous close.
A number of other brokerages also recently issued reports on BLUE. Bank of America cut their target price on bluebird bio from $12.00 to $5.00 and set a “buy” rating for the company in a research note on Thursday, December 21st. Cantor Fitzgerald assumed coverage on shares of bluebird bio in a research note on Tuesday, October 17th. They set a “neutral” rating on the stock. Morgan Stanley raised shares of bluebird bio from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $3.00 to $7.00 in a research note on Friday, December 8th. Raymond James lifted their price target on shares of bluebird bio from $10.00 to $13.00 and gave the company an “outperform” rating in a research report on Wednesday, November 8th. Finally, Wells Fargo & Company cut their target price on bluebird bio from $8.00 to $5.00 and set an “equal weight” rating for the company in a research note on Friday, December 15th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $6.84.
bluebird bio Stock Performance
Shares of BLUE traded up $0.05 during trading hours on Monday, hitting $1.47. 11,695,238 shares of the stock were exchanged, compared to its average volume of 12,296,879. The stock’s 50-day moving average price is $2.93 and its two-hundred day moving average price is $3.21. The company has a market cap of $160.72 million, a price-to-earnings ratio of -1.99 and a beta of 0.82. bluebird bio has a 12-month low of $1.26 and a 12-month high of $8.52.
bluebird bio (NASDAQ:BLUE – Get Free Report) last issued its earnings results on Tuesday, November 7th. The biotechnology company reported ($0.66) EPS for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.03. bluebird bio had a negative net margin of 419.64% and a negative return on equity of 34.32%. The business had revenue of $12.40 million during the quarter, compared to analysts’ expectations of $13.56 million. During the same period in the prior year, the business earned ($0.92) earnings per share. The company’s quarterly revenue was up 17364.8% compared to the same quarter last year. On average, research analysts expect that bluebird bio will post -1.79 earnings per share for the current year.
Hedge Funds Weigh In On bluebird bio
Hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp lifted its stake in bluebird bio by 597.0% in the third quarter. State Street Corp now owns 12,720,480 shares of the biotechnology company’s stock worth $80,521,000 after acquiring an additional 10,895,379 shares during the last quarter. Granahan Investment Management LLC increased its holdings in bluebird bio by 236.0% in the second quarter. Granahan Investment Management LLC now owns 4,856,322 shares of the biotechnology company’s stock valued at $15,977,000 after buying an additional 3,411,065 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of bluebird bio by 825.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,302,473 shares of the biotechnology company’s stock worth $7,000,000 after acquiring an additional 2,053,639 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of bluebird bio by 198.9% in the 2nd quarter. Renaissance Technologies LLC now owns 2,810,000 shares of the biotechnology company’s stock valued at $11,633,000 after acquiring an additional 1,870,000 shares during the last quarter. Finally, BlackRock Inc. raised its position in shares of bluebird bio by 21.4% during the 1st quarter. BlackRock Inc. now owns 8,945,977 shares of the biotechnology company’s stock worth $28,448,000 after acquiring an additional 1,577,315 shares in the last quarter. Hedge funds and other institutional investors own 87.43% of the company’s stock.
About bluebird bio
bluebird bio, Inc, a biotechnology company, researches, develops, and commercializes gene therapies for severe genetic diseases. Its product candidates for severe genetic diseases include ZYNTEGLO (betibeglogene autotemcel) for the treatment of transfusion-dependent ß-thalassemia; lovotibeglogene autotemcel for the treatment of sickle cell disease (SCD); and SKYSONA (elivaldogene autotemcel) to treat cerebral adrenoleukodystrophy.