Bank of America Raises bluebird bio (BLUE) Price Target to $218.00

bluebird bio (NASDAQ:BLUE) had its price objective raised by Bank of America from $185.00 to $218.00 in a research report released on Thursday morning. The firm currently has a neutral rating on the biotechnology company’s stock.

A number of other equities research analysts have also recently weighed in on BLUE. BMO Capital Markets upped their price objective on shares of bluebird bio from $134.00 to $162.00 and gave the stock a buy rating in a report on Monday, October 30th. Cantor Fitzgerald restated a sell rating and issued a $58.00 price objective (up previously from $39.00) on shares of bluebird bio in a report on Wednesday, November 1st. Leerink Swann restated an outperform rating and issued a $162.00 price objective (up previously from $145.00) on shares of bluebird bio in a report on Wednesday, November 1st. BTIG Research upgraded shares of bluebird bio from a neutral rating to a buy rating and set a $177.00 price objective on the stock in a report on Thursday, November 2nd. Finally, Wedbush reiterated an outperform rating and issued a $174.00 target price (up previously from $135.00) on shares of bluebird bio in a research note on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. bluebird bio currently has an average rating of Buy and an average price target of $178.42.

Shares of bluebird bio (NASDAQ:BLUE) opened at $206.05 on Thursday. The firm has a market cap of $10,299.20, a PE ratio of -26.90 and a beta of 2.07. bluebird bio has a fifty-two week low of $74.45 and a fifty-two week high of $222.03.

bluebird bio (NASDAQ:BLUE) last announced its quarterly earnings data on Wednesday, February 21st. The biotechnology company reported ($2.52) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.68) by ($0.84). The business had revenue of $4.17 million during the quarter, compared to analysts’ expectations of $7.11 million. bluebird bio had a negative return on equity of 28.09% and a negative net margin of 947.42%. bluebird bio’s revenue for the quarter was up 169.0% compared to the same quarter last year. During the same quarter last year, the company posted ($1.88) EPS. analysts forecast that bluebird bio will post -7.4 earnings per share for the current fiscal year.

In related news, insider Philip D. Gregory sold 2,250 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $172.54, for a total transaction of $388,215.00. Following the transaction, the insider now owns 28,734 shares in the company, valued at $4,957,764.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Nick Leschly sold 5,435 shares of the stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $173.38, for a total transaction of $942,320.30. Following the transaction, the chief executive officer now owns 171,009 shares in the company, valued at approximately $29,649,540.42. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 200,280 shares of company stock worth $37,818,846. 3.90% of the stock is owned by insiders.

Institutional investors have recently modified their holdings of the stock. Meeder Asset Management Inc. lifted its position in bluebird bio by 2,110.3% during the fourth quarter. Meeder Asset Management Inc. now owns 641 shares of the biotechnology company’s stock valued at $114,000 after purchasing an additional 612 shares during the period. QS Investors LLC lifted its position in bluebird bio by 70.7% during the second quarter. QS Investors LLC now owns 1,207 shares of the biotechnology company’s stock valued at $127,000 after purchasing an additional 500 shares during the period. NuWave Investment Management LLC bought a new position in bluebird bio during the fourth quarter valued at approximately $135,000. Ladenburg Thalmann Financial Services Inc. lifted its position in bluebird bio by 454.2% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 992 shares of the biotechnology company’s stock valued at $136,000 after purchasing an additional 813 shares during the period. Finally, Biondo Investment Advisors LLC bought a new position in bluebird bio during the third quarter valued at approximately $203,000.

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bluebird bio Company Profile

bluebird bio, Inc is a clinical-stage biotechnology company. The Company is focused on developing gene therapies for severe diseases and cancer. With its lentiviral-based gene therapy and gene editing capabilities, it has built an integrated product platform with various applications in these areas. The Company’s clinical programs in severe genetic diseases include its LentiGlobin product candidate to treat transfusion-dependent b-thalassemia and to treat severe sickle cell disease (SCD) and its Lenti-D product candidate to treat cerebral adrenoleukodystrophy (CALD).

Analyst Recommendations for bluebird bio (NASDAQ:BLUE)

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