bluebird bio (NASDAQ:BLUE) Stock Rating Upgraded by Cantor Fitzgerald

bluebird bio (NASDAQ:BLUE) was upgraded by stock analysts at Cantor Fitzgerald from an “underweight” rating to a “neutral” rating in a research note issued on Friday, November 2nd, Marketbeat Ratings reports. The firm currently has a $134.00 price target on the biotechnology company’s stock, up from their previous price target of $122.00. Cantor Fitzgerald’s price objective points to a potential upside of 6.07% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. ValuEngine downgraded shares of bluebird bio from a “strong-buy” rating to a “buy” rating in a report on Monday, September 17th. Goldman Sachs Group downgraded shares of bluebird bio from a “conviction-buy” rating to a “buy” rating in a report on Friday, September 21st. Cowen reissued a “buy” rating on shares of bluebird bio in a report on Monday, August 6th. SunTrust Banks reissued a “buy” rating and set a $223.00 price target on shares of bluebird bio in a report on Friday, August 3rd. Finally, BMO Capital Markets reissued a “buy” rating and set a $208.00 price target on shares of bluebird bio in a report on Friday, August 3rd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and sixteen have issued a buy rating to the company. bluebird bio presently has an average rating of “Buy” and a consensus price target of $209.74.

Shares of BLUE traded down $6.09 during mid-day trading on Friday, reaching $126.33. 632,558 shares of the stock traded hands, compared to its average volume of 897,968. bluebird bio has a 12-month low of $102.21 and a 12-month high of $236.17. The firm has a market capitalization of $7.31 billion, a P/E ratio of -16.39 and a beta of 2.31.

bluebird bio (NASDAQ:BLUE) last released its quarterly earnings results on Thursday, November 1st. The biotechnology company reported ($2.73) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.90) by $0.17. The business had revenue of $11.50 million during the quarter, compared to the consensus estimate of $6.90 million. bluebird bio had a negative net margin of 1,326.02% and a negative return on equity of 31.50%. The business’s quarterly revenue was up 49.2% compared to the same quarter last year. During the same quarter last year, the company earned ($1.73) earnings per share. As a group, analysts forecast that bluebird bio will post -10.57 earnings per share for the current year.

In other bluebird bio news, insider Jeffrey T. Walsh sold 20,000 shares of bluebird bio stock in a transaction dated Thursday, August 30th. The stock was sold at an average price of $175.40, for a total transaction of $3,508,000.00. Following the transaction, the insider now owns 44,238 shares of the company’s stock, valued at approximately $7,759,345.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James Mandell sold 1,000 shares of bluebird bio stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $150.77, for a total value of $150,770.00. Following the transaction, the director now directly owns 1,568 shares in the company, valued at approximately $236,407.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,859 shares of company stock worth $7,159,367. Company insiders own 3.00% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Stratos Wealth Partners LTD. bought a new stake in shares of bluebird bio in the 3rd quarter valued at approximately $106,000. NuWave Investment Management LLC grew its stake in shares of bluebird bio by 10,811.1% in the 3rd quarter. NuWave Investment Management LLC now owns 982 shares of the biotechnology company’s stock valued at $143,000 after buying an additional 973 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of bluebird bio by 635.0% in the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,154 shares of the biotechnology company’s stock valued at $167,000 after buying an additional 997 shares in the last quarter. Tower Research Capital LLC TRC acquired a new stake in bluebird bio in the 2nd quarter worth approximately $201,000. Finally, XR Securities LLC acquired a new stake in bluebird bio in the 2nd quarter worth approximately $212,000. 98.63% of the stock is owned by institutional investors and hedge funds.

bluebird bio Company Profile

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.

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