Brokerages Set bluebird bio, Inc. (NASDAQ:BLUE) PT at $5.87

Shares of bluebird bio, Inc. (NASDAQ:BLUE) have earned an average recommendation of “Hold” from the twelve analysts that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $5.87.

A number of brokerages recently weighed in on BLUE. Royal Bank of Canada reiterated a “sector perform” rating and issued a $6.00 target price on shares of bluebird bio in a report on Wednesday, March 27th. Wedbush dropped their target price on shares of bluebird bio from $1.72 to $1.68 and set a “neutral” rating for the company in a research report on Tuesday, March 19th. Bank of America decreased their price objective on shares of bluebird bio from $12.00 to $5.00 and set a “buy” rating for the company in a research note on Thursday, December 21st. Wells Fargo & Company reduced their target price on shares of bluebird bio from $4.00 to $3.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 27th. Finally, William Blair reiterated a “market perform” rating on shares of bluebird bio in a report on Tuesday, January 9th.

Institutional Trading of bluebird bio

Several institutional investors have recently added to or reduced their stakes in BLUE. State Street Corp lifted its position in shares of bluebird bio by 597.0% during the third quarter. State Street Corp now owns 12,720,480 shares of the biotechnology company’s stock worth $80,521,000 after purchasing an additional 10,895,379 shares during the last quarter. Norges Bank acquired a new stake in shares of bluebird bio during the 4th quarter valued at approximately $5,514,000. Palo Alto Investors LP bought a new position in bluebird bio during the fourth quarter worth $4,600,000. Vanguard Group Inc. boosted its holdings in bluebird bio by 56.2% in the fourth quarter. Vanguard Group Inc. now owns 8,775,379 shares of the biotechnology company’s stock worth $12,110,000 after purchasing an additional 3,157,919 shares during the period. Finally, Ghisallo Capital Management LLC acquired a new position in bluebird bio in the fourth quarter worth $4,347,000. 87.43% of the stock is owned by institutional investors and hedge funds.

bluebird bio Stock Down 1.1 %

NASDAQ:BLUE opened at $0.95 on Tuesday. The company has a market cap of $104.20 million, a P/E ratio of -1.31 and a beta of 0.74. The firm’s 50 day moving average is $1.27 and its two-hundred day moving average is $2.07. bluebird bio has a fifty-two week low of $0.88 and a fifty-two week high of $5.53.

bluebird bio Company Profile

bluebird bio, Inc, a biotechnology company, researches, develops, and commercializes gene therapies for severe genetic diseases. Its product candidates for severe genetic diseases include ZYNTEGLO (betibeglogene autotemcel) for the treatment of transfusion-dependent ß-thalassemia; lovotibeglogene autotemcel for the treatment of sickle cell disease (SCD); and SKYSONA (elivaldogene autotemcel) to treat cerebral adrenoleukodystrophy.