bluebird bio (NASDAQ:BLUE) PT Lowered to $160.00

bluebird bio (NASDAQ:BLUE) had its price target cut by stock analysts at Wells Fargo & Co from $242.00 to $160.00 in a research note issued to investors on Monday, BenzingaRatingsTable reports. The brokerage currently has an “overweight” rating on the biotechnology company’s stock. Wells Fargo & Co‘s price target would indicate a potential upside of 101.46% from the stock’s current price.

Several other equities analysts have also recently commented on the stock. Cowen restated a “buy” rating on shares of bluebird bio in a report on Friday. Svb Leerink raised bluebird bio from a “market perform” rating to an “outperform” rating and set a $119.00 price objective for the company in a research report on Tuesday, November 26th. Canaccord Genuity reissued a “buy” rating and set a $118.00 price objective (down previously from $171.00) on shares of bluebird bio in a research report on Monday. Stifel Nicolaus set a $96.00 target price on bluebird bio and gave the company a “hold” rating in a research note on Friday, November 1st. Finally, William Blair reaffirmed a “hold” rating on shares of bluebird bio in a research report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $138.43.

BLUE stock opened at $79.42 on Monday. The firm has a 50 day simple moving average of $80.36 and a 200 day simple moving average of $107.05. bluebird bio has a 52 week low of $71.42 and a 52 week high of $163.43. The stock has a market cap of $4.39 billion, a P/E ratio of -7.44 and a beta of 2.16. The company has a debt-to-equity ratio of 0.12, a quick ratio of 6.22 and a current ratio of 6.22.

bluebird bio (NASDAQ:BLUE) last released its quarterly earnings data on Thursday, October 31st. The biotechnology company reported ($3.73) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($3.54) by ($0.19). bluebird bio had a negative net margin of 1,326.56% and a negative return on equity of 42.29%. The company had revenue of $8.91 million during the quarter, compared to analyst estimates of $12.47 million. During the same quarter in the prior year, the company posted ($2.73) EPS. The firm’s quarterly revenue was down 22.7% compared to the same quarter last year. Sell-side analysts predict that bluebird bio will post -14.06 EPS for the current year.

In other bluebird bio news, insider David Davidson sold 2,060 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $100.16, for a total transaction of $206,329.60. Following the transaction, the insider now directly owns 34,616 shares of the company’s stock, valued at $3,467,138.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 2,560 shares of company stock worth $249,085 over the last three months. Company insiders own 3.00% of the company’s stock.

Several hedge funds have recently modified their holdings of the stock. State Street Corp raised its holdings in bluebird bio by 11.1% in the 3rd quarter. State Street Corp now owns 1,304,238 shares of the biotechnology company’s stock worth $119,755,000 after acquiring an additional 130,765 shares during the period. Invesco Ltd. boosted its stake in bluebird bio by 898.6% during the 2nd quarter. Invesco Ltd. now owns 1,053,942 shares of the biotechnology company’s stock valued at $134,061,000 after purchasing an additional 948,400 shares during the period. Victory Capital Management Inc. boosted its stake in bluebird bio by 29.5% during the 2nd quarter. Victory Capital Management Inc. now owns 752,300 shares of the biotechnology company’s stock valued at $95,693,000 after purchasing an additional 171,555 shares during the period. Nuveen Asset Management LLC acquired a new stake in bluebird bio in the 2nd quarter valued at approximately $53,104,000. Finally, Fiera Capital Corp grew its holdings in bluebird bio by 2.1% in the 2nd quarter. Fiera Capital Corp now owns 345,669 shares of the biotechnology company’s stock valued at $43,969,000 after buying an additional 6,951 shares during 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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Analyst Recommendations for bluebird bio (NASDAQ:BLUE)

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