Barclays Has Lowered Expectations for bluebird bio (NASDAQ:BLUE) Stock Price

bluebird bio (NASDAQ:BLUE) had its price objective lowered by Barclays from $4.00 to $2.00 in a research report released on Friday,Benzinga reports. The firm currently has an overweight rating on the biotechnology company’s stock.

A number of other analysts have also recently commented on the company. Robert W. Baird lowered their price target on bluebird bio from $7.00 to $6.00 and set an “outperform” rating for the company in a research note on Thursday, August 15th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $4.00 target price on shares of bluebird bio in a report on Thursday, August 15th. Bank of America cut shares of bluebird bio from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $3.00 to $0.50 in a research report on Friday. Wells Fargo & Company lowered their price objective on shares of bluebird bio from $3.00 to $2.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. downgraded bluebird bio from a “neutral” rating to an “underweight” rating in a research note on Friday. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, bluebird bio has a consensus rating of “Hold” and an average price target of $3.03.

bluebird bio Price Performance

BLUE opened at $0.33 on Friday. The company has a fifty day moving average price of $0.49 and a two-hundred day moving average price of $0.78. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.57 and a current ratio of 0.68. The firm has a market capitalization of $64.57 million, a PE ratio of -0.18 and a beta of 0.76. bluebird bio has a 52 week low of $0.32 and a 52 week high of $5.53.

bluebird bio (NASDAQ:BLUE) last announced its quarterly earnings data on Friday, September 13th. The biotechnology company reported ($0.36) EPS for the quarter. bluebird bio had a negative return on equity of 238.15% and a negative net margin of 565.74%. The company had revenue of $18.57 million for the quarter. As a group, analysts anticipate that bluebird bio will post -1.41 earnings per share for the current year.

Hedge Funds Weigh In On bluebird bio

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allegheny Financial Group LTD acquired a new stake in shares of bluebird bio in the 2nd quarter valued at about $25,000. Bayesian Capital Management LP bought a new position in shares of bluebird bio during the first quarter worth about $52,000. Price T Rowe Associates Inc. MD raised its position in 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 buying an additional 29,113 shares during the last quarter. SG Americas Securities LLC raised its position in 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 buying an additional 65,710 shares during the last quarter. Finally, Verition Fund Management LLC bought a new stake in bluebird bio in the 3rd quarter valued at approximately $42,000. 87.43% of the stock is owned by institutional investors and hedge funds.

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.