bluebird bio (BLUE) Lifted to Hold at BidaskClub

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BidaskClub upgraded shares of bluebird bio (NASDAQ:BLUE) from a sell rating to a hold rating in a research note released on Monday.

BLUE has been the subject of several other reports. ValuEngine downgraded bluebird bio from a strong-buy rating to a buy rating in a report on Wednesday, January 2nd. Oppenheimer restated a hold rating on shares of bluebird bio in a report on Tuesday, November 27th. Piper Jaffray Companies downgraded bluebird bio from an overweight rating to a neutral rating and dropped their price objective for the stock from $240.00 to $120.00 in a report on Thursday, December 6th. William Blair restated a buy rating on shares of bluebird bio in a report on Tuesday, December 4th. Finally, Raymond James started coverage on bluebird bio in a report on Wednesday, December 19th. They set a strong-buy rating and a $165.00 price objective for the company. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $188.83.

BLUE traded up $3.09 during trading on Monday, hitting $113.33. The company’s stock had a trading volume of 5,745 shares, compared to its average volume of 585,759. The company has a market capitalization of $5.83 billion, a PE ratio of -14.70 and a beta of 2.41. bluebird bio has a twelve month low of $87.49 and a twelve month high of $236.17.

bluebird bio (NASDAQ:BLUE) last issued its quarterly earnings results on Thursday, November 1st. The biotechnology company reported ($2.73) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($2.90) by $0.17. The company had revenue of $11.50 million during the quarter, compared to the consensus estimate of $6.90 million. bluebird bio had a negative return on equity of 31.50% and a negative net margin of 1,326.02%. bluebird bio’s revenue was up 49.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.73) EPS. As a group, research analysts anticipate that bluebird bio will post -10.76 earnings per share for the current year.

In other news, insider David Davidson sold 7,600 shares of the firm’s stock in a transaction dated Thursday, January 3rd. The stock was sold at an average price of $98.82, for a total transaction of $751,032.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Philip D. Gregory sold 1,800 shares of the firm’s stock in a transaction dated Monday, November 5th. The shares were sold at an average price of $137.38, for a total value of $247,284.00. Following the sale, the insider now owns 31,971 shares of the company’s stock, valued at $4,392,175.98. The disclosure for this sale can be found here. Insiders sold 28,777 shares of company stock worth $3,290,502 over the last three months. 3.00% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in BLUE. Janus Henderson Group PLC acquired a new stake in shares of bluebird bio during the second quarter valued at about $345,000. Legal & General Group Plc grew its stake in bluebird bio by 10.2% in the second quarter. Legal & General Group Plc now owns 22,782 shares of the biotechnology company’s stock worth $3,575,000 after purchasing an additional 2,106 shares in the last quarter. FMR LLC grew its stake in bluebird bio by 0.3% in the second quarter. FMR LLC now owns 7,517,890 shares of the biotechnology company’s stock worth $1,179,933,000 after purchasing an additional 20,363 shares in the last quarter. Van ECK Associates Corp grew its stake in bluebird bio by 11.6% in the second quarter. Van ECK Associates Corp now owns 35,087 shares of the biotechnology company’s stock worth $5,507,000 after purchasing an additional 3,643 shares in the last quarter. Finally, BB&T Securities LLC acquired a new position in bluebird bio in the second quarter worth about $605,000.

About bluebird bio

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.

See Also: Cost of Capital

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