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

StockNews.com assumed coverage on shares of bluebird bio (NASDAQ:BLUE) in a report issued on Wednesday morning. The firm issued a sell rating on the biotechnology company’s stock.

A number of other research analysts have also commented on BLUE. Bank of America lowered shares of bluebird bio from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $3.00 to $0.50 in a research note on Friday, November 15th. Cantor Fitzgerald restated a “neutral” rating on shares of bluebird bio in a research report on Monday, September 16th. JPMorgan Chase & Co. lowered bluebird bio from a “neutral” rating to an “underweight” rating in a report on Friday, November 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 Friday, November 15th. Finally, Barclays decreased their price target on shares of bluebird bio from $4.00 to $2.00 and set an “overweight” rating for the company in a report on Friday, November 15th. 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. According to MarketBeat.com, bluebird bio presently has an average rating of “Hold” and a consensus target price of $3.03.

bluebird bio Stock Up 105.4 %

NASDAQ:BLUE opened at $0.74 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.33 and a current ratio of 0.51. The stock has a 50-day simple moving average of $0.45 and a 200 day simple moving average of $0.73. bluebird bio has a one year low of $0.29 and a one year high of $5.53. The company has a market capitalization of $143.17 million, a price-to-earnings ratio of -0.39 and a beta of 0.72.

bluebird bio (NASDAQ:BLUE) last issued its earnings results on Friday, September 13th. The biotechnology company reported ($0.36) earnings per share (EPS) for the quarter. The business had revenue of $18.57 million during the quarter. bluebird bio had a negative return on equity of 322.46% and a negative net margin of 565.74%. Sell-side analysts predict that bluebird bio will post -1.35 EPS for the current fiscal year.

Hedge Funds Weigh In On bluebird bio

A number of institutional investors have recently modified their holdings of the company. Allegheny Financial Group LTD acquired a new stake in bluebird bio during the second quarter worth $25,000. Verition Fund Management LLC bought a new stake in bluebird bio during the 3rd quarter worth about $42,000. SG Americas Securities LLC increased its stake in shares of bluebird bio by 152.4% in the 3rd quarter. SG Americas Securities LLC now owns 122,855 shares of the biotechnology company’s stock valued at $64,000 after acquiring an additional 74,185 shares during the last quarter. 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 acquiring an additional 29,113 shares during the last quarter. Finally, Captrust Financial Advisors increased its stake in bluebird bio by 48.2% during the 3rd quarter. Captrust Financial Advisors now owns 237,648 shares of the biotechnology company’s stock worth $123,000 after purchasing an additional 77,293 shares in 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.