Wedbush lowered shares of bluebird bio (NASDAQ:BLUE) from an outperform rating to a neutral rating in a research report report published on Wednesday, Benzinga reports. Wedbush currently has $131.00 price objective on the biotechnology company’s stock, down from their prior price objective of $166.00.
Several other research analysts have also weighed in on BLUE. Zacks Investment Research lowered bluebird bio from a hold rating to a sell rating in a research report on Thursday, January 17th. Canaccord Genuity reiterated a buy rating and issued a $161.00 price objective (down previously from $250.00) on shares of bluebird bio in a research note on Wednesday, January 23rd. ValuEngine downgraded bluebird bio from a buy rating to a hold rating in a research note on Friday, February 22nd. Cantor Fitzgerald reiterated a neutral rating and issued a $122.00 price objective (down previously from $134.00) on shares of bluebird bio in a research note on Friday, February 22nd. Finally, BMO Capital Markets upped their price objective on bluebird bio to $194.00 and gave the company an outperform rating in a research note on Friday, February 22nd. Eleven analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. bluebird bio presently has an average rating of Buy and a consensus target price of $166.62.
Shares of BLUE stock traded up $5.59 during mid-day trading on Wednesday, hitting $130.42. The company’s stock had a trading volume of 13,155 shares, compared to its average volume of 530,811. bluebird bio has a 52 week low of $87.49 and a 52 week high of $199.70. The company has a current ratio of 9.31, a quick ratio of 9.31 and a debt-to-equity ratio of 0.09. The firm has a market cap of $7.01 billion, a PE ratio of -12.25 and a beta of 2.50.
bluebird bio (NASDAQ:BLUE) last posted its quarterly earnings data on Thursday, May 2nd. The biotechnology company reported ($2.99) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.79) by ($0.20). bluebird bio had a negative return on equity of 34.01% and a negative net margin of 1,184.01%. The business had revenue of $12.47 million during the quarter, compared to the consensus estimate of $15.49 million. During the same period last year, the business posted ($2.31) earnings per share. The business’s revenue was down 21.9% on a year-over-year basis. On average, analysts forecast that bluebird bio will post -12.05 earnings per share for the current year.
In other bluebird bio news, insider Jeffrey T. Walsh sold 1,500 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $132.30, for a total transaction of $198,450.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jason Cole sold 6,248 shares of the business’s stock in a transaction on Monday, February 25th. The shares were sold at an average price of $150.24, for a total transaction of $938,699.52. Following the sale, the insider now directly owns 28,692 shares in the company, valued at approximately $4,310,686.08. The disclosure for this sale can be found here. Insiders have sold a total of 31,530 shares of company stock worth $4,710,113 in the last three months. Insiders own 3.00% of the company’s stock.
A number of hedge funds have recently modified their holdings of BLUE. Icon Wealth Partners LLC bought a new position in shares of bluebird bio in the first quarter worth $31,000. Cornerstone Advisors Inc. increased its holdings 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 purchasing an additional 308 shares during the period. Exane Derivatives bought a new position in shares of bluebird bio in the fourth quarter worth $34,000. Macquarie Group Ltd. bought a new position in shares of bluebird bio in the first quarter worth $72,000. Finally, Quadrant Capital Group LLC increased its holdings in shares of bluebird bio by 211.5% in the first quarter. Quadrant Capital Group LLC now owns 486 shares of the biotechnology company’s stock worth $74,000 after purchasing an additional 330 shares during the period.
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 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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