bluebird bio (BLUE) PT Lowered to $174.00 at SunTrust Banks

bluebird bio (NASDAQ:BLUE) had its target price cut by equities research analysts at SunTrust Banks to $174.00 in a note issued to investors on Thursday, The Fly reports. The firm presently has a “buy” rating on the biotechnology company’s stock. SunTrust Banks’ price target suggests a potential upside of 36.50% from the company’s previous close.

A number of other research analysts have also weighed in on the stock. BMO Capital Markets raised their price objective on shares of bluebird bio to $194.00 and gave the company an “outperform” rating in a research note on Friday, February 22nd. Cowen initiated coverage on shares of bluebird bio in a research note on Tuesday, February 26th. They issued an “outperform” rating and a $149.91 price objective on the stock. Zacks Investment Research lowered shares of bluebird bio from a “hold” rating to a “sell” rating in a research note on Monday, February 11th. Svb Leerink lowered shares of bluebird bio from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 5th. Finally, BidaskClub lowered shares of bluebird bio from a “hold” rating to a “sell” rating in a research note on Tuesday, April 23rd. Eleven investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $166.62.

Shares of bluebird bio stock traded up $2.64 during trading hours on Thursday, reaching $127.47. The company’s stock had a trading volume of 4,935 shares, compared to its average volume of 530,811. bluebird bio has a one year low of $87.49 and a one year high of $199.70. The firm has a market capitalization of $7.01 billion, a price-to-earnings ratio of -11.94 and a beta of 2.50. The company has a current ratio of 9.31, a quick ratio of 9.31 and a debt-to-equity ratio of 0.09.



bluebird bio (NASDAQ:BLUE) last released its quarterly earnings data on Thursday, May 2nd. The biotechnology company reported ($2.99) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.79) by ($0.20). bluebird bio had a negative net margin of 1,184.01% and a negative return on equity of 34.01%. 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 firm’s quarterly revenue was down 21.9% on a year-over-year basis. On average, research analysts forecast that bluebird bio will post -12.05 EPS for the current year.

In other bluebird bio news, insider Jeffrey T. Walsh sold 1,500 shares of bluebird bio stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $132.30, for a total value of $198,450.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider David Davidson sold 6,360 shares of bluebird bio stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $160.06, for a total transaction of $1,017,981.60. Following the completion of the sale, the insider now directly owns 37,976 shares in the company, valued at approximately $6,078,438.56. The disclosure for this sale can be found here. Insiders have sold 31,530 shares of company stock worth $4,710,113 over the last three months. 3.00% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the business. Icon Wealth Partners LLC bought a new stake in bluebird bio in the first quarter worth about $31,000. Cornerstone Advisors Inc. raised its position in 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 acquiring an additional 308 shares during the period. Exane Derivatives bought a new stake in bluebird bio in the fourth quarter worth about $34,000. Macquarie Group Ltd. bought a new stake in bluebird bio in the first quarter worth about $72,000. Finally, Quadrant Capital Group LLC raised its position in 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 acquiring 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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