Barclays Cuts bluebird bio (NASDAQ:BLUE) Price Target to $8.00

bluebird bio (NASDAQ:BLUE) had its target price reduced by Barclays from $40.00 to $8.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the biotechnology company’s stock. Barclays‘s price objective would suggest a potential upside of 52.38% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the company. StockNews.com began coverage on bluebird bio in a research note on Friday, March 28th. They issued a “sell” rating for the company. JPMorgan Chase & Co. upgraded shares of bluebird bio from an “underweight” rating to a “neutral” rating in a research note on Monday, February 24th. Baird R W downgraded shares of bluebird bio from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 21st. Finally, Wells Fargo & Company decreased their price objective on shares of bluebird bio from $40.00 to $5.00 and set an “equal weight” rating for the company in a research report on Monday, February 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $44.60.

bluebird bio Stock Up 7.6 %

Shares of NASDAQ BLUE opened at $5.25 on Monday. The stock has a market cap of $51.04 million, a P/E ratio of -0.14 and a beta of 0.76. The business’s fifty day simple moving average is $5.40 and its 200-day simple moving average is $7.63. bluebird bio has a 12-month low of $3.56 and a 12-month high of $28.60. The company has a current ratio of 0.51, a quick ratio of 0.33 and a debt-to-equity ratio of 0.37.

Institutional Investors Weigh In On bluebird bio

Several hedge funds and other institutional investors have recently bought and sold shares of BLUE. Regeneron Pharmaceuticals Inc. acquired a new stake in shares of bluebird bio in the fourth quarter valued at approximately $175,000. Verition Fund Management LLC acquired a new position in bluebird bio in the third quarter valued at $42,000. Captrust Financial Advisors raised its holdings in shares of bluebird bio by 48.2% in the third quarter. Captrust Financial Advisors now owns 237,648 shares of the biotechnology company’s stock valued at $123,000 after buying an additional 77,293 shares during the last quarter. Barclays PLC lifted its position in bluebird bio by 273.7% during the 3rd quarter. Barclays PLC now owns 252,062 shares of the biotechnology company’s stock worth $130,000 after acquiring an additional 184,605 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in shares of bluebird bio by 2,270.2% during the third quarter. BNP Paribas Financial Markets now owns 371,224 shares of the biotechnology company’s stock worth $193,000 after purchasing an additional 355,562 shares during the period. 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.