bluebird bio (NASDAQ:BLUE) Coverage Initiated by Analysts at StockNews.com

Research analysts at StockNews.com assumed coverage on shares of bluebird bio (NASDAQ:BLUE) in a research report issued to clients and investors on Sunday. The brokerage set a “sell” rating on the biotechnology company’s stock.

A number of other equities analysts have also weighed in on the company. Bank of America lowered their target price on bluebird bio from $4.00 to $3.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. JPMorgan Chase & Co. lowered bluebird bio from an “overweight” rating to a “neutral” rating in a research note on Thursday, August 15th. Barclays lowered their target price on bluebird bio from $8.00 to $4.00 and set an “overweight” rating on the stock in a research note on Thursday, August 15th. Wells Fargo & Company lowered their target price on bluebird bio from $3.00 to $2.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 25th. Finally, Robert W. Baird lowered their target price on bluebird bio from $7.00 to $6.00 and set an “outperform” rating on the stock in a research note on Thursday, August 15th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, bluebird bio has a consensus rating of “Hold” and a consensus price target of $3.59.

bluebird bio Stock Performance

BLUE opened at $0.41 on Friday. bluebird bio has a 12-month low of $0.34 and a 12-month high of $5.53. The stock has a market cap of $78.67 million, a price-to-earnings ratio of -0.18 and a beta of 0.76. The business has a 50 day moving average of $0.50 and a 200-day moving average of $0.80. The company has a quick ratio of 0.57, a current ratio of 0.68 and a debt-to-equity ratio of 0.37.

bluebird bio (NASDAQ:BLUE) last released its quarterly earnings data on Friday, September 13th. The biotechnology company reported ($0.36) earnings per share (EPS) for the quarter. bluebird bio had a negative net margin of 567.29% and a negative return on equity of 207.25%. The business had revenue of $18.57 million during the quarter. On average, equities research analysts expect that bluebird bio will post -1.41 earnings per share for the current year.

Hedge Funds Weigh In On bluebird bio

Hedge funds have recently added to or reduced their stakes in the stock. Allegheny Financial Group LTD bought a new position in bluebird bio during the 2nd quarter worth $25,000. Bayesian Capital Management LP bought a new position in shares of bluebird bio in the 1st quarter valued at $52,000. Price T Rowe Associates Inc. MD increased its stake in shares of bluebird bio by 113.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 54,714 shares of the biotechnology company’s stock valued at $71,000 after purchasing an additional 29,113 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of bluebird bio by 458.8% in the 1st quarter. SG Americas Securities LLC now owns 80,032 shares of the biotechnology company’s stock valued at $102,000 after purchasing an additional 65,710 shares during the last quarter. Finally, American International Group Inc. increased its stake in shares of bluebird bio by 77.4% in the 1st quarter. American International Group Inc. now owns 94,371 shares of the biotechnology company’s stock valued at $121,000 after purchasing an additional 41,177 shares during the last quarter. Institutional investors own 87.43% of the company’s stock.

bluebird bio Company Profile

bluebird bio, Inc, a biotechnology company, researches, develops, and commercializes gene therapies for severe genetic diseases. Its product candidates for severe genetic diseases include ZYNTEGLO (betibeglogene autotemcel) for the treatment of transfusion-dependent ß-thalassemia; lovotibeglogene autotemcel for the treatment of sickle cell disease (SCD); and SKYSONA (elivaldogene autotemcel) to treat cerebral adrenoleukodystrophy.