bluebird bio (BLUE) Downgraded by Leerink Swann to Market Perform

bluebird bio (NASDAQ:BLUE) was downgraded by Leerink Swann from an “outperform” rating to a “market perform” rating in a research note issued on Thursday, Marketbeat.com reports. They currently have a $194.00 price objective on the biotechnology company’s stock, up from their prior price objective of $162.00. Leerink Swann’s target price indicates a potential downside of 3.12% from the stock’s current price. Leerink Swann also issued estimates for bluebird bio’s Q1 2018 earnings at ($1.67) EPS.

Other equities analysts have also issued reports about the stock. BTIG Research raised shares of bluebird bio from a “neutral” rating to a “buy” rating and set a $177.00 target price for the company in a report on Thursday, November 2nd. BMO Capital Markets lifted their target price on shares of bluebird bio from $134.00 to $162.00 and gave the company a “buy” rating in a report on Monday, October 30th. Maxim Group reissued a “buy” rating and issued a $170.00 price target (up previously from $100.00) on shares of bluebird bio in a report on Monday, October 9th. Goldman Sachs Group reissued a “buy” rating and issued a $186.00 price target on shares of bluebird bio in a report on Friday, October 6th. Finally, SunTrust Banks boosted their price target on shares of bluebird bio from $108.00 to $163.00 and gave the stock a “buy” rating in a report on Friday, November 3rd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. bluebird bio currently has an average rating of “Hold” and an average target price of $159.05.

bluebird bio (NASDAQ BLUE) opened at $200.25 on Thursday. bluebird bio has a 1-year low of $67.10 and a 1-year high of $222.03.

bluebird bio (NASDAQ:BLUE) last posted its earnings results on Wednesday, November 1st. The biotechnology company reported ($1.73) earnings per share for the quarter, missing the consensus estimate of ($1.68) by ($0.05). The firm had revenue of $7.71 million for the quarter, compared to analysts’ expectations of $8.47 million. bluebird bio had a negative net margin of 883.18% and a negative return on equity of 28.79%. bluebird bio’s revenue for the quarter was up 397.4% compared to the same quarter last year. During the same period last year, the firm earned ($2.07) earnings per share. equities analysts expect that bluebird bio will post -6.72 earnings per share for the current year.

In other news, CEO Nick Leschly sold 5,435 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 171,009 shares of the company’s stock, valued at $29,649,540.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Susanna Gatti High sold 1,282 shares of the company’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $172.15, for a total transaction of $220,696.30. Following the sale, the chief operating officer now directly owns 13,718 shares of the company’s stock, valued at approximately $2,361,553.70. The disclosure for this sale can be found here. Insiders have sold 201,045 shares of company stock valued at $35,817,777 in the last ninety days. Insiders own 3.90% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Ladenburg Thalmann Financial Services Inc. grew its holdings in shares of bluebird bio by 454.2% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 992 shares of the biotechnology company’s stock worth $136,000 after buying an additional 813 shares in the last quarter. QS Investors LLC grew its holdings in shares of bluebird bio by 70.7% during the second quarter. QS Investors LLC now owns 1,207 shares of the biotechnology company’s stock worth $127,000 after buying an additional 500 shares in the last quarter. Biondo Investment Advisors LLC purchased a new stake in shares of bluebird bio during the third quarter worth $203,000. World Asset Management Inc purchased a new stake in shares of bluebird bio during the third quarter worth $230,000. Finally, Comerica Bank purchased a new stake in shares of bluebird bio during the third quarter worth $242,000.

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About bluebird bio

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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