bluebird bio (BLUE) Downgraded to “Buy” at ValuEngine

ValuEngine downgraded shares of bluebird bio (NASDAQ:BLUE) from a strong-buy rating to a buy rating in a report published on Tuesday.

A number of other research analysts have also recently commented on BLUE. Piper Jaffray Companies restated a buy rating on shares of bluebird bio in a research note on Thursday, August 2nd. Gabelli assumed coverage on bluebird bio in a research note on Thursday, July 12th. They set a buy rating and a $239.00 price target on the stock. Cantor Fitzgerald set a $122.00 price target on bluebird bio and gave the stock a sell rating in a research note on Monday, August 6th. BidaskClub upgraded bluebird bio from a sell rating to a hold rating in a research note on Saturday, July 7th. Finally, Maxim Group decreased their price target on bluebird bio to $163.00 and set a hold rating on the stock in a research note on Monday, July 30th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $212.21.

NASDAQ:BLUE opened at $130.51 on Tuesday. bluebird bio has a 52 week low of $120.02 and a 52 week high of $236.17. The firm has a market cap of $7.91 billion, a price-to-earnings ratio of -16.93 and a beta of 1.89.

bluebird bio (NASDAQ:BLUE) last released its quarterly earnings results on Thursday, August 2nd. The biotechnology company reported ($2.91) EPS for the quarter, missing analysts’ consensus estimates of ($2.30) by ($0.61). bluebird bio had a negative return on equity of 31.57% and a negative net margin of 1,281.01%. The firm had revenue of $7.80 million for the quarter, compared to analyst estimates of $10.68 million. During the same quarter last year, the company earned ($1.73) earnings per share. The firm’s revenue for the quarter was down 53.3% on a year-over-year basis. Sell-side analysts predict that bluebird bio will post -10.8 EPS for the current fiscal year.

In other news, insider Jeffrey T. Walsh sold 21,500 shares of the company’s stock in a transaction on Thursday, August 2nd. The stock was sold at an average price of $152.02, for a total transaction of $3,268,430.00. Following the sale, the insider now owns 56,995 shares of the company’s stock, valued at $8,664,379.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jeffrey T. Walsh sold 20,000 shares of the stock in a transaction 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 completion of the transaction, the insider now directly owns 44,238 shares in the company, valued at approximately $7,759,345.20. The disclosure for this sale can be found here. Insiders have sold 62,859 shares of company stock worth $10,029,606 in the last ninety days. Corporate insiders own 3.00% of the company’s stock.

A number of large investors have recently bought and sold shares of BLUE. Tower Research Capital LLC TRC purchased a new position in bluebird bio in the second quarter valued at $201,000. XR Securities LLC purchased a new position in bluebird bio in the second quarter valued at $212,000. Laurel Wealth Advisors Inc. purchased a new position in bluebird bio in the first quarter valued at $215,000. Atria Investments LLC purchased a new position in bluebird bio in the third quarter valued at $216,000. Finally, First Republic Investment Management Inc. purchased a new position in bluebird bio in the second quarter valued at $234,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

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.

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