bluebird bio (NASDAQ:BLUE) Earns Sell Rating from Analysts at StockNews.com

Research analysts at StockNews.com started coverage on shares of bluebird bio (NASDAQ:BLUE) in a note issued to investors on Friday. The firm set a “sell” rating on the biotechnology company’s stock.

A number of other research firms have also recently commented on BLUE. Royal Bank of Canada reiterated a “sector perform” rating and set a $80.00 price objective on shares of bluebird bio in a research report on Friday, November 15th. Cantor Fitzgerald reiterated a “neutral” rating on shares of bluebird bio in a report on Monday, September 16th. JPMorgan Chase & Co. lowered shares of bluebird bio from a “neutral” rating to an “underweight” rating in a research report on Friday, November 15th. Wells Fargo & Company reduced their target price on bluebird bio from $60.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 25th. Finally, Bank of America downgraded shares of bluebird bio from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $60.00 to $10.00 in a research note on Friday, November 15th. Three analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $49.14.

bluebird bio Price Performance

Shares of NASDAQ:BLUE opened at $9.23 on Friday. The firm has a market capitalization of $89.73 million, a price-to-earnings ratio of -4.94 and a beta of 0.72. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.51 and a quick ratio of 0.33. The business’s 50 day simple moving average is $8.57 and its 200-day simple moving average is $13.75. bluebird bio has a 12 month low of $5.80 and a 12 month high of $38.40.

bluebird bio (NASDAQ:BLUE) last released its quarterly earnings results on Friday, September 27th. The biotechnology company reported ($8.40) EPS for the quarter, missing the consensus estimate of ($8.00) by ($0.40). The business had revenue of $16.10 million during the quarter, compared to analyst estimates of $16.09 million. bluebird bio had a negative net margin of 565.74% and a negative return on equity of 322.46%. As a group, equities analysts forecast that bluebird bio will post -1.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On bluebird bio

Several hedge funds and other institutional investors have recently made changes to their positions in BLUE. AQR Capital Management LLC increased its stake in bluebird bio by 315.3% during the 2nd quarter. AQR Capital Management LLC now owns 1,334,519 shares of the biotechnology company’s stock worth $1,223,000 after buying an additional 1,013,144 shares during the period. Bank of New York Mellon Corp boosted its holdings in bluebird bio by 19.4% in the second quarter. Bank of New York Mellon Corp now owns 685,757 shares of the biotechnology company’s stock valued at $675,000 after purchasing an additional 111,574 shares during the last quarter. Rhumbline Advisers grew its stake in bluebird bio by 25.4% during the 2nd quarter. Rhumbline Advisers now owns 292,436 shares of the biotechnology company’s stock valued at $288,000 after purchasing an additional 59,219 shares in the last quarter. SG Americas Securities LLC increased its holdings in bluebird bio by 152.4% during the 3rd 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, Allegheny Financial Group LTD acquired a new position in shares of bluebird bio in the 2nd quarter valued at approximately $25,000. Institutional investors and hedge funds own 87.43% of the company’s stock.

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.