bluebird bio (NASDAQ:BLUE) Lowered to “Neutral” Rating by Bank of America

Bank of America lowered shares of bluebird bio (NASDAQ:BLUE) from a buy rating to a neutral rating in a research report sent to investors on Friday morning, Marketbeat Ratings reports. The brokerage currently has $0.50 price objective on the biotechnology company’s stock, down from their previous price objective of $3.00.

BLUE has been the subject of several other research reports. Barclays decreased their target price on bluebird bio from $8.00 to $4.00 and set an “overweight” rating for the company in a research note on Thursday, August 15th. JPMorgan Chase & Co. downgraded shares of bluebird bio from an “overweight” rating to a “neutral” rating in a research report on Thursday, August 15th. Royal Bank of Canada reiterated a “sector perform” rating and set a $4.00 target price on shares of bluebird bio in a research report on Thursday, August 15th. Robert W. Baird reduced their price target on shares of bluebird bio from $7.00 to $6.00 and set an “outperform” rating for the company in a report on Thursday, August 15th. Finally, StockNews.com started coverage on shares of bluebird bio in a research note on Sunday, November 10th. They issued a “sell” rating for the company. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, bluebird bio presently has an average rating of “Hold” and a consensus price target of $3.03.

bluebird bio Stock Up 3.8 %

Shares of NASDAQ BLUE opened at $0.33 on Friday. The company’s 50 day moving average price is $0.49 and its 200-day moving average price is $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. bluebird bio has a 52-week low of $0.32 and a 52-week high of $5.53. The company has a market capitalization of $64.57 million, a P/E ratio of -0.18 and a beta of 0.76.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Allegheny Financial Group LTD acquired a new stake in shares of bluebird bio in the 2nd quarter worth about $25,000. Verition Fund Management LLC acquired a new position in bluebird bio during the 3rd quarter valued at about $42,000. Bayesian Capital Management LP bought a new stake in bluebird bio during the 1st quarter worth approximately $52,000. SG Americas Securities LLC raised its stake in shares of bluebird bio by 152.4% in the third quarter. SG Americas Securities LLC now owns 122,855 shares of the biotechnology company’s stock worth $64,000 after purchasing an additional 74,185 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of bluebird bio by 113.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 54,714 shares of the biotechnology company’s stock worth $71,000 after purchasing an additional 29,113 shares during the last quarter. 87.43% of the stock is currently owned by institutional investors and hedge funds.

About bluebird bio

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.