bluebird bio, Inc. (NASDAQ:BLUE) Given Average Rating of “Hold” by Brokerages

Shares of bluebird bio, Inc. (NASDAQ:BLUEGet Rating) have earned an average rating of “Hold” from the eighteen brokerages that are currently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $12.62.

BLUE has been the topic of several recent research reports. Cowen cut shares of bluebird bio from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 6th. Morgan Stanley cut their price target on shares of bluebird bio from $6.00 to $5.00 and set an “underweight” rating for the company in a report on Monday, March 7th. StockNews.com assumed coverage on shares of bluebird bio in a report on Thursday, March 31st. They set a “sell” rating on the stock. SVB Leerink lowered their target price on shares of bluebird bio from $10.00 to $8.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 6th. Finally, Wells Fargo & Company decreased their price target on bluebird bio from $12.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 8th.

A number of institutional investors have recently added to or reduced their stakes in the stock. State Street Corp grew its holdings in bluebird bio by 70.4% in the fourth quarter. State Street Corp now owns 7,617,310 shares of the biotechnology company’s stock valued at $76,097,000 after purchasing an additional 3,147,374 shares during the period. BlackRock Inc. grew its stake in bluebird bio by 2.5% during the fourth quarter. BlackRock Inc. now owns 5,912,002 shares of the biotechnology company’s stock worth $59,058,000 after buying an additional 142,293 shares during the period. First Trust Advisors LP grew its stake in bluebird bio by 126.3% during the fourth quarter. First Trust Advisors LP now owns 5,204,825 shares of the biotechnology company’s stock worth $51,996,000 after buying an additional 2,904,800 shares during the period. JPMorgan Chase & Co. grew its stake in bluebird bio by 14.7% during the fourth quarter. JPMorgan Chase & Co. now owns 2,215,910 shares of the biotechnology company’s stock worth $22,136,000 after buying an additional 283,213 shares during the period. Finally, Credit Suisse AG grew its stake in bluebird bio by 9.7% during the fourth quarter. Credit Suisse AG now owns 2,199,297 shares of the biotechnology company’s stock worth $21,972,000 after buying an additional 195,005 shares during the period. Hedge funds and other institutional investors own 89.49% of the company’s stock.

Shares of NASDAQ:BLUE traded down $0.06 during trading on Friday, hitting $3.95. 11,106 shares of the company were exchanged, compared to its average volume of 2,293,560. The stock has a market capitalization of $282.16 million, a P/E ratio of -0.34 and a beta of 1.58. bluebird bio has a 12-month low of $4.01 and a 12-month high of $35.59. The firm’s 50 day moving average price is $5.10 and its 200-day moving average price is $9.89.

bluebird bio (NASDAQ:BLUEGet Rating) last announced its quarterly earnings data on Friday, March 4th. The biotechnology company reported ($1.82) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($1.82). The company had revenue of $1.61 million for the quarter, compared to analysts’ expectations of $5.72 million. bluebird bio had a negative net margin of 1,839.27% and a negative return on equity of 90.96%. During the same period in the previous year, the company posted ($3.01) EPS. As a group, analysts forecast that bluebird bio will post -4.31 EPS for the current fiscal year.

bluebird bio Company Profile (Get Rating)

bluebird bio, Inc, a biotechnology company, researches, develops, and commercializes transformative gene therapies for severe genetic diseases. Its product candidates for severe genetic diseases include betibeglogene autotemcel for the treatment of transfusion-dependent Ã-thalassemia; lovotibeglogene autotemcel for the treatment of sickle cell disease (SCD); and elivaldogene autotemcel to treat cerebral adrenoleukodystrophy.

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Analyst Recommendations for bluebird bio (NASDAQ:BLUE)

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