Brokerages Set bluebird bio Inc (NASDAQ:BLUE) Price Target at $96.46

bluebird bio Inc (NASDAQ:BLUE) has earned a consensus recommendation of “Buy” from the twenty-one brokerages that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $96.46.

A number of equities analysts have recently weighed in on BLUE shares. Oppenheimer started coverage on bluebird bio in a research note on Monday, August 31st. They set a “buy” rating and a $111.00 target price on the stock. JPMorgan Chase & Co. reiterated a “buy” rating on shares of bluebird bio in a report on Wednesday, August 19th. Bank of America cut their target price on bluebird bio from $104.00 to $100.00 and set a “buy” rating on the stock in a report on Monday, July 13th. BMO Capital Markets reduced their price objective on shares of bluebird bio from $112.00 to $108.00 and set an “outperform” rating for the company in a research report on Thursday, August 6th. Finally, William Blair reaffirmed a “hold” rating on shares of bluebird bio in a research report on Sunday, August 30th.

In other bluebird bio news, insider Kory James Wentworth sold 596 shares of the stock in a transaction on 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 in the company, valued at $636,849.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Nick Leschly sold 431 shares of the stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $58.60, for a total value of $25,256.60. Following the completion of the sale, the chief executive officer now owns 99,029 shares in the company, valued at approximately $5,803,099.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,772 shares of company stock valued at $109,995. 3.60% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in BLUE. Oppenheimer Asset Management Inc. lifted its holdings in shares of bluebird bio by 3.0% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 6,462 shares of the biotechnology company’s stock worth $394,000 after acquiring an additional 191 shares during the last quarter. Edmond DE Rothschild Holding S.A. increased its holdings in shares of bluebird bio by 8.1% in the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 2,666 shares of the biotechnology company’s stock worth $163,000 after purchasing an additional 199 shares in the last quarter. MayTech Global Investments LLC grew its holdings in shares of bluebird bio by 0.5% in the second quarter. MayTech Global Investments LLC now owns 42,030 shares of the biotechnology company’s stock worth $2,566,000 after acquiring an additional 206 shares during the period. Advisor Group Holdings Inc. grew its holdings in shares of bluebird bio by 2.7% in the second quarter. Advisor Group Holdings Inc. now owns 8,520 shares of the biotechnology company’s stock worth $525,000 after acquiring an additional 222 shares during the period. Finally, Clearbridge Investments LLC grew its holdings in bluebird bio by 36.7% during the first quarter. Clearbridge Investments LLC now owns 908 shares of the biotechnology company’s stock valued at $42,000 after purchasing an additional 244 shares during the period. Institutional investors and hedge funds own 96.39% of the company’s stock.

Shares of NASDAQ BLUE traded up $0.83 during mid-day trading on Thursday, reaching $55.33. The company had a trading volume of 9,900 shares, compared to its average volume of 1,083,547. The stock has a fifty day moving average of $58.55 and a two-hundred day moving average of $58.65. The company has a market capitalization of $3.61 billion, a price-to-earnings ratio of -4.72 and a beta of 2.20. bluebird bio has a 12-month low of $38.95 and a 12-month high of $108.15.

bluebird bio (NASDAQ:BLUE) last issued its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported ($0.36) earnings per share for the quarter, beating the consensus estimate of ($2.58) by $2.22. The firm had revenue of $198.89 million for the quarter, compared to analyst estimates of $101.74 million. bluebird bio had a negative net margin of 272.66% and a negative return on equity of 47.02%. Research analysts expect that bluebird bio will post -10.42 earnings per share for the current year.

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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