bluebird bio (BLUE) PT Lowered to $174.00

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bluebird bio (NASDAQ:BLUE) had its price target reduced by SunTrust Banks to $174.00 in a report issued on Thursday, The Fly reports. SunTrust Banks currently has a buy rating on the biotechnology company’s stock.

Several other analysts also recently issued reports on BLUE. Zacks Investment Research downgraded shares of bluebird bio from a hold rating to a sell rating in a research note on Thursday, January 17th. Canaccord Genuity reaffirmed a buy rating and set a $161.00 price target (down previously from $250.00) on shares of bluebird bio in a research note on Wednesday, January 23rd. ValuEngine downgraded shares of bluebird bio from a buy rating to a hold rating in a research note on Friday, February 22nd. Cantor Fitzgerald reaffirmed a neutral rating and set a $122.00 price target (down previously from $134.00) on shares of bluebird bio in a research note on Friday, February 22nd. Finally, BMO Capital Markets lifted their price target on shares of bluebird bio to $194.00 and gave the company an outperform rating in a research note on Friday, February 22nd. Eleven investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. bluebird bio has an average rating of Buy and a consensus price target of $166.62.

NASDAQ BLUE traded down $1.04 during trading on Thursday, hitting $129.76. The stock had a trading volume of 9,318 shares, compared to its average volume of 523,719. The company has a debt-to-equity ratio of 0.09, a current ratio of 9.31 and a quick ratio of 9.31. The company has a market cap of $6.88 billion, a P/E ratio of -12.09 and a beta of 2.50. bluebird bio has a one year low of $87.49 and a one year high of $199.70.

bluebird bio (NASDAQ:BLUE) last announced its quarterly earnings data on Thursday, May 2nd. The biotechnology company reported ($2.99) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.79) by ($0.20). The firm had revenue of $12.47 million during the quarter, compared to the consensus estimate of $15.49 million. bluebird bio had a negative return on equity of 34.01% and a negative net margin of 1,184.01%. The firm’s revenue for the quarter was down 21.9% on a year-over-year basis. During the same period in the previous year, the business earned ($2.31) EPS. As a group, equities research analysts expect that bluebird bio will post -12.08 EPS for the current year.

In related news, insider Jeffrey T. Walsh sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $139.80, for a total value of $209,700.00. Following the completion of the transaction, the insider now owns 42,421 shares of the company’s stock, valued at $5,930,455.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider David Davidson sold 3,101 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $146.41, for a total transaction of $454,017.41. Following the completion of the transaction, the insider now directly owns 34,717 shares of the company’s stock, valued at approximately $5,082,915.97. The disclosure for this sale can be found here. Insiders have sold 31,530 shares of company stock valued at $4,710,113 in the last ninety days. Insiders own 3.00% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. FMR LLC raised its stake in bluebird bio by 0.5% in the first quarter. FMR LLC now owns 8,242,676 shares of the biotechnology company’s stock worth $1,296,820,000 after buying an additional 38,515 shares in the last quarter. Vanguard Group Inc raised its stake in bluebird bio by 10.1% in the third quarter. Vanguard Group Inc now owns 4,619,413 shares of the biotechnology company’s stock worth $674,435,000 after buying an additional 422,866 shares in the last quarter. BlackRock Inc. raised its stake in bluebird bio by 1.2% in the fourth quarter. BlackRock Inc. now owns 2,986,142 shares of the biotechnology company’s stock worth $296,223,000 after buying an additional 34,053 shares in the last quarter. OppenheimerFunds Inc. raised its stake in bluebird bio by 10.6% in the first quarter. OppenheimerFunds Inc. now owns 892,749 shares of the biotechnology company’s stock worth $140,456,000 after buying an additional 85,420 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in bluebird bio by 2.1% in the first quarter. First Trust Advisors LP now owns 763,308 shares of the biotechnology company’s stock worth $120,091,000 after buying an additional 15,379 shares in the last quarter.

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 in severe genetic diseases include LentiGlobin, which is in various clinical studies for the treatment of transfusion-dependent ß-thalassemia and severe sickle cell disease; and Lenti-D that is in Phase II/III clinical trials for the treatment of cerebral adrenoleukodystrophy, a rare hereditary neurological disorder.

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