Morgan Stanley Lowers bluebird bio (BLUE) Price Target to $186.00

Share on StockTwits

bluebird bio (NASDAQ:BLUE) had its price target lowered by Morgan Stanley from $190.00 to $186.00 in a research note published on Monday, October 15th. The firm currently has an equal weight rating on the biotechnology company’s stock.

Other equities research analysts have also issued research reports about the stock. Maxim Group reaffirmed a hold rating on shares of bluebird bio in a report on Monday, August 6th. Cantor Fitzgerald set a $122.00 target price on shares of bluebird bio and gave the stock a sell rating in a report on Friday, July 13th. ValuEngine lowered shares of bluebird bio from a strong-buy rating to a buy rating in a report on Monday, September 17th. BidaskClub raised shares of bluebird bio from a sell rating to a hold rating in a report on Saturday, July 7th. Finally, BMO Capital Markets reissued a buy rating and set a $208.00 price objective on shares of bluebird bio in a report on Friday, August 3rd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and sixteen have assigned a buy rating to the company. bluebird bio presently has a consensus rating of Buy and a consensus target price of $209.74.

Shares of BLUE stock traded down $6.09 during mid-day trading on Monday, reaching $126.33. The company’s stock had a trading volume of 632,558 shares, compared to its average volume of 897,968. bluebird bio has a 1-year low of $102.21 and a 1-year high of $236.17. The stock has a market cap of $7.31 billion, a price-to-earnings ratio of -16.39 and a beta of 2.31.

bluebird bio (NASDAQ:BLUE) last announced its quarterly earnings data on Thursday, November 1st. The biotechnology company reported ($2.73) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.90) by $0.17. bluebird bio had a negative net margin of 1,326.02% and a negative return on equity of 31.50%. The company had revenue of $11.50 million during the quarter, compared to analysts’ expectations of $6.90 million. During the same quarter in the prior year, the company posted ($1.73) EPS. The business’s revenue was up 49.2% on a year-over-year basis. On average, research analysts forecast that bluebird bio will post -10.57 EPS for the current year.

In related news, insider Jeffrey T. Walsh sold 20,000 shares of the stock in a transaction that occurred on Thursday, August 30th. The shares were sold at an average price of $175.40, for a total value of $3,508,000.00. Following the sale, the insider now directly owns 44,238 shares in the company, valued at approximately $7,759,345.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Philip D. Gregory sold 1,800 shares of the stock in a transaction that occurred on Monday, November 5th. The shares were sold at an average price of $137.38, for a total transaction of $247,284.00. Following the completion of the sale, the insider now owns 31,971 shares in the company, valued at $4,392,175.98. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,859 shares of company stock worth $7,159,367. Corporate insiders own 3.00% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. FMR LLC raised its holdings in bluebird bio by 8.1% during the 3rd quarter. FMR LLC now owns 8,123,687 shares of the biotechnology company’s stock worth $1,186,058,000 after buying an additional 605,797 shares during the period. BlackRock Inc. raised its holdings in bluebird bio by 7.9% during the 3rd quarter. BlackRock Inc. now owns 2,952,089 shares of the biotechnology company’s stock worth $431,005,000 after buying an additional 216,914 shares during the period. OppenheimerFunds Inc. raised its holdings in bluebird bio by 3.0% during the 2nd quarter. OppenheimerFunds Inc. now owns 794,126 shares of the biotechnology company’s stock worth $124,638,000 after buying an additional 23,016 shares during the period. First Trust Advisors LP raised its holdings in bluebird bio by 63.2% during the 3rd quarter. First Trust Advisors LP now owns 601,883 shares of the biotechnology company’s stock worth $87,875,000 after buying an additional 233,175 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in bluebird bio by 86.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 581,695 shares of the biotechnology company’s stock worth $84,926,000 after buying an additional 269,074 shares during the period. Hedge funds and other institutional investors own 98.63% of the company’s stock.

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 include Lenti-D that is in Phase II/III clinical trials for the treatment of cerebral adrenoleukodystrophy, a rare hereditary neurological disorder; and LentiGlobin, which is in various clinical studies for the treatment of transfusion- transfusion-dependent ß-thalassemia and severe sickle cell disease.

Featured Story: How is the discount rate different from the Federal Funds rate?

Analyst Recommendations for bluebird bio (NASDAQ:BLUE)

Receive News & Ratings for bluebird bio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for bluebird bio and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


Leave a Reply

 
© 2006-2018 BBNS.