bluebird bio, Inc. (BLUE) Upgraded by Morgan Stanley to “Equal Weight”

bluebird bio, Inc. (NASDAQ:BLUE) was upgraded by equities researchers at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a research report issued on Friday, November 3rd, Marketbeat.com reports.

BLUE has been the topic of several other reports. Wedbush reissued an “outperform” rating and set a $174.00 price objective (up from $135.00) on shares of bluebird bio in a research note on Thursday, November 2nd. Zacks Investment Research cut bluebird bio from a “buy” rating to a “hold” rating in a research note on Tuesday, July 18th. Cantor Fitzgerald reissued a “sell” rating and set a $39.00 price objective on shares of bluebird bio in a research note on Thursday, September 28th. Evercore ISI raised bluebird bio from an “in-line” rating to an “outperform” rating and set a $102.00 price objective on the stock in a research note on Monday, October 16th. Finally, BMO Capital Markets boosted their price objective on bluebird bio from $134.00 to $162.00 and gave the stock a “buy” rating in a research note on Monday, October 30th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the stock. bluebird bio presently has an average rating of “Buy” and a consensus price target of $131.05.

Shares of bluebird bio (NASDAQ BLUE) opened at $167.20 on Friday. bluebird bio has a 52-week low of $56.80 and a 52-week high of $169.60.

bluebird bio (NASDAQ:BLUE) last posted its earnings results on Wednesday, November 1st. The biotechnology company reported ($1.73) EPS for the quarter, missing analysts’ consensus estimates of ($1.68) by ($0.05). bluebird bio had a negative return on equity of 28.79% and a negative net margin of 883.18%. The firm had revenue of $7.71 million during the quarter, compared to analysts’ expectations of $8.47 million. During the same quarter in the prior year, the firm posted ($2.07) earnings per share. bluebird bio’s quarterly revenue was up 397.4% on a year-over-year basis. equities research analysts predict that bluebird bio will post -6.68 EPS for the current fiscal year.

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In related news, CEO Nick Leschly sold 10,823 shares of the stock in a transaction that occurred on Tuesday, October 17th. The stock was sold at an average price of $145.05, for a total value of $1,569,876.15. Following the transaction, the chief executive officer now owns 262,409 shares of the company’s stock, valued at $38,062,425.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jeffrey T. Walsh sold 1,250 shares of the stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $107.06, for a total value of $133,825.00. Following the completion of the transaction, the insider now directly owns 28,555 shares in the company, valued at approximately $3,057,098.30. The disclosure for this sale can be found here. In the last three months, insiders sold 193,168 shares of company stock worth $25,558,003. 3.90% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in BLUE. QS Investors LLC grew its stake in bluebird bio by 70.7% in the second quarter. QS Investors LLC now owns 1,207 shares of the biotechnology company’s stock worth $127,000 after purchasing an additional 500 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its holdings 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 worth $136,000 after buying an additional 813 shares during the period. Bank of Montreal Can lifted its holdings in bluebird bio by 118.9% during the second quarter. Bank of Montreal Can now owns 1,677 shares of the biotechnology company’s stock worth $176,000 after buying an additional 911 shares during the period. Turner Investments LLC purchased a new stake in bluebird bio during the second quarter worth $184,000. Finally, Biondo Investment Advisors LLC purchased a new stake in bluebird bio during the third quarter worth $203,000.

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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