bluebird bio Inc (BLUE) Started Coverage at Standpoint Research

bluebird bio Inc (BLUE) Started Coverage at Standpoint Research

Stock analysts at Standpoint Research started coverage on shares of bluebird bio Inc (NASDAQ:BLUE) in a research note issued to investors on Tuesday. The firm set a “buy” rating and a $110.00 price target on the biotechnology company’s stock. Standpoint Research’s price target suggests a potential upside of 39.77% from the company’s previous close.

A number of other research firms have also recently issued reports on BLUE. Zacks Investment Research cut shares of bluebird bio from a “buy” rating to a “hold” rating in a research note on Monday, January 30th. Maxim Group cut shares of bluebird bio from a “buy” rating to a “hold” rating and set a $87.00 target price for the company. in a research note on Monday, February 27th. They noted that the move was a valuation call. Jefferies Group LLC reiterated a “buy” rating and issued a $88.00 target price on shares of bluebird bio in a research note on Friday, March 24th. Roth Capital set a $71.00 target price on shares of bluebird bio and gave the company a “hold” rating in a research note on Thursday, February 23rd. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $83.00 target price on shares of bluebird bio in a research note on Thursday, February 23rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $85.97.

bluebird bio (BLUE) traded down 0.64% during mid-day trading on Tuesday, reaching $78.20. The company had a trading volume of 68,188 shares. The company’s 50 day moving average is $86.13 and its 200 day moving average is $77.00. bluebird bio has a 52-week low of $36.62 and a 52-week high of $100.40. The stock’s market capitalization is $3.20 billion.

bluebird bio (NASDAQ:BLUE) last posted its earnings results on Wednesday, May 3rd. The biotechnology company reported ($1.68) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.76) by $0.08. bluebird bio had a negative net margin of 3,941.72% and a negative return on equity of 30.79%. The company had revenue of $6.83 million during the quarter, compared to analysts’ expectations of $1.51 million. Equities analysts predict that bluebird bio will post ($6.94) earnings per share for the current year.

In other news, Director John Maraganore sold 13,839 shares of the business’s stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $85.02, for a total value of $1,176,591.78. Following the completion of the transaction, the director now owns 5,765 shares of the company’s stock, valued at approximately $490,140.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel Lynch sold 3,000 shares of the business’s stock in a transaction on Monday, March 27th. The shares were sold at an average price of $88.12, for a total transaction of $264,360.00. Following the completion of the transaction, the director now directly owns 3,400 shares of the company’s stock, valued at approximately $299,608. The disclosure for this sale can be found here. Insiders sold a total of 29,256 shares of company stock valued at $2,603,418 in the last three months. 3.50% of the stock is owned by company insiders.

Institutional investors have recently made changes to their positions in the stock. FMR LLC raised its position in shares of bluebird bio by 0.6% in the first quarter. FMR LLC now owns 6,126,713 shares of the biotechnology company’s stock valued at $556,918,000 after buying an additional 37,742 shares during the period. Baillie Gifford & Co. raised its position in shares of bluebird bio by 0.8% in the first quarter. Baillie Gifford & Co. now owns 5,204,633 shares of the biotechnology company’s stock valued at $473,102,000 after buying an additional 40,166 shares during the period. Vanguard Group Inc. raised its position in shares of bluebird bio by 4.6% in the first quarter. Vanguard Group Inc. now owns 3,215,246 shares of the biotechnology company’s stock valued at $292,266,000 after buying an additional 141,293 shares during the period. BlackRock Inc. raised its position in shares of bluebird bio by 44,948.0% in the first quarter. BlackRock Inc. now owns 3,182,188 shares of the biotechnology company’s stock valued at $289,259,000 after buying an additional 3,175,124 shares during the period. Finally, State Street Corp raised its position in shares of bluebird bio by 3.7% in the first quarter. State Street Corp now owns 1,611,032 shares of the biotechnology company’s stock valued at $146,443,000 after buying an additional 58,228 shares during the period.

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).new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:BLUE”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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