bluebird bio (NASDAQ:BLUE) Receives New Coverage from Analysts at Oppenheimer

Oppenheimer assumed coverage on shares of bluebird bio (NASDAQ:BLUE) in a report issued on Wednesday, TipRanks reports. The firm issued a buy rating and a $111.00 price target on the biotechnology company’s stock.

Other equities research analysts have also issued reports about the company. Piper Sandler cut their target price on bluebird bio from $75.00 to $70.00 and set a neutral rating on the stock in a research report on Monday, May 11th. Canaccord Genuity reaffirmed a buy rating and set a $118.00 target price on shares of bluebird bio in a research report on Tuesday, May 12th. BidaskClub raised bluebird bio from a sell rating to a hold rating in a research report on Friday, July 10th. Royal Bank of Canada initiated coverage on bluebird bio in a research report on Tuesday, May 12th. They set an outperform rating and a $100.00 target price on the stock. Finally, Barclays reaffirmed a buy rating on shares of bluebird bio in a research report on Wednesday, May 13th. Five analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $104.71.

Shares of BLUE stock opened at $60.70 on Wednesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 5.25 and a current ratio of 5.25. bluebird bio has a 1 year low of $38.95 and a 1 year high of $136.00. The stock has a fifty day moving average of $63.48 and a two-hundred day moving average of $65.64. The firm has a market capitalization of $3.38 billion, a PE ratio of -4.06 and a beta of 2.37.

bluebird bio (NASDAQ:BLUE) last posted its quarterly earnings data on Monday, May 11th. The biotechnology company reported ($3.64) EPS for the quarter, topping the Zacks’ consensus estimate of ($4.05) by $0.41. bluebird bio had a negative return on equity of 60.05% and a negative net margin of 1,531.04%. The company had revenue of $21.90 million for the quarter, compared to the consensus estimate of $8.00 million. During the same quarter in the previous year, the business earned ($2.99) EPS. The company’s quarterly revenue was up 75.2% compared to the same quarter last year. Equities research analysts predict that bluebird bio will post -12.12 earnings per share for the current fiscal year.

In other news, CEO Nick Leschly sold 443 shares of the company’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $61.57, for a total transaction of $27,275.51. Following the completion of the sale, the chief executive officer now owns 99,904 shares in the company, valued at approximately $6,151,089.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Kory James Wentworth sold 596 shares of the company’s stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $66.38, for a total value of $39,562.48. Following the sale, the insider now owns 9,594 shares of the company’s stock, valued at approximately $636,849.72. The disclosure for this sale can be found here. Insiders sold 1,716 shares of company stock worth $110,272 in the last 90 days. Corporate insiders own 3.60% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in BLUE. Raymond James & Associates boosted its stake in shares of bluebird bio by 39.2% during the 4th quarter. Raymond James & Associates now owns 6,649 shares of the biotechnology company’s stock worth $583,000 after acquiring an additional 1,872 shares in the last quarter. Stifel Financial Corp boosted its stake in shares of bluebird bio by 4.5% during the 4th quarter. Stifel Financial Corp now owns 7,137 shares of the biotechnology company’s stock worth $624,000 after acquiring an additional 308 shares in the last quarter. Janus Henderson Group PLC acquired a new position in shares of bluebird bio during the 4th quarter worth about $2,563,000. Alliancebernstein L.P. lifted its position in shares of bluebird bio by 107.5% during the 4th quarter. Alliancebernstein L.P. now owns 54,040 shares of the biotechnology company’s stock worth $4,742,000 after purchasing an additional 28,000 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of bluebird bio by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 637,323 shares of the biotechnology company’s stock worth $55,925,000 after purchasing an additional 18,568 shares during the last quarter.

bluebird bio Company Profile

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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Analyst Recommendations for bluebird bio (NASDAQ:BLUE)

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