bluebird bio’s (BLUE) “Sector Perform” Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reaffirmed their sector perform rating on shares of bluebird bio (NASDAQ:BLUE) in a research report report published on Friday,Benzinga reports. Royal Bank of Canada currently has a $4.00 target price on the biotechnology company’s stock.

Other research analysts have also recently issued research reports about the company. Bank of America cut bluebird bio from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $3.00 to $0.50 in a research note on Friday. Wells Fargo & Company lowered their target price on shares of 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. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of bluebird bio in a research note on Monday, September 16th. Robert W. Baird lowered their price objective on shares of bluebird bio from $7.00 to $6.00 and set an “outperform” rating on the stock in a research note on Thursday, August 15th. Finally, JPMorgan Chase & Co. cut bluebird bio from a “neutral” rating to an “underweight” rating in a report on Friday. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $3.03.

bluebird bio Stock Up 3.8 %

Shares of bluebird bio stock opened at $0.33 on Friday. bluebird bio has a twelve month low of $0.32 and a twelve month high of $5.53. The stock has a market capitalization of $64.57 million, a price-to-earnings ratio of -0.18 and a beta of 0.76. The company has a current ratio of 0.68, a quick ratio of 0.57 and a debt-to-equity ratio of 0.37. The business’s 50 day simple moving average is $0.49 and its 200-day simple moving average is $0.78.

bluebird bio (NASDAQ:BLUE) last issued its earnings results on Friday, September 13th. The biotechnology company reported ($0.36) earnings per share 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 during the quarter. Equities research analysts forecast that bluebird bio will post -1.41 earnings per share for the current year.

Hedge Funds Weigh In On bluebird bio

A number of hedge funds have recently modified their holdings of the stock. Allegheny Financial Group LTD acquired a new position in shares of bluebird bio in the 2nd quarter valued at $25,000. Verition Fund Management LLC purchased a new stake in bluebird bio during the third quarter valued at about $42,000. Bayesian Capital Management LP acquired a new position in shares of bluebird bio in the first quarter worth about $52,000. SG Americas Securities LLC increased its position 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 acquiring an additional 74,185 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of bluebird bio by 113.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 54,714 shares of the biotechnology company’s stock valued at $71,000 after acquiring an additional 29,113 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.