bluebird bio (NASDAQ:BLUE) Receives New Coverage from Analysts at HSBC

HSBC began coverage on shares of bluebird bio (NASDAQ:BLUE) in a report issued on Wednesday, MarketBeat.com reports. The brokerage issued a buy rating and a $4.21 price target on the biotechnology company’s stock.

A number of other research firms have also recently commented on BLUE. Barclays raised bluebird bio from an equal weight rating to an overweight rating and increased their target price for the stock from $7.00 to $8.00 in a research note on Thursday, June 1st. Bank of America raised bluebird bio from a neutral rating to a buy rating and increased their target price for the stock from $6.00 to $10.00 in a research note on Wednesday, July 19th. Wedbush reaffirmed a neutral rating and set a $7.00 price target on shares of bluebird bio in a report on Tuesday, August 8th. Finally, StockNews.com began coverage on bluebird bio in a report on Thursday, August 17th. They set a sell rating on the stock. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $7.52.

bluebird bio Stock Up 2.4 %

Shares of BLUE stock opened at $3.80 on Wednesday. The stock has a market cap of $406.41 million, a price-to-earnings ratio of -3.73 and a beta of 0.89. The business’s fifty day moving average is $3.60 and its 200 day moving average is $3.85. bluebird bio has a twelve month low of $2.78 and a twelve month high of $8.58.

bluebird bio (NASDAQ:BLUE) last released its earnings results on Tuesday, August 8th. The biotechnology company reported ($0.67) EPS for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.05. bluebird bio had a negative return on equity of 37.89% and a negative net margin of 1,020.37%. The firm had revenue of $6.90 million for the quarter, compared to analysts’ expectations of $11.30 million. During the same period in the prior year, the firm posted ($1.29) earnings per share. The company’s quarterly revenue was up 360.0% on a year-over-year basis. Equities research analysts expect that bluebird bio will post -2.04 earnings per share for the current fiscal year.

Insider Buying and Selling at bluebird bio

In other bluebird bio news, CEO Andrew Obenshain sold 16,929 shares of the stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $3.54, for a total value of $59,928.66. Following the transaction, the chief executive officer now owns 291,941 shares of the company’s stock, valued at $1,033,471.14. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Arizona State Retirement System lifted its holdings in bluebird bio by 37.0% in the first quarter. Arizona State Retirement System now owns 29,822 shares of the biotechnology company’s stock valued at $95,000 after acquiring an additional 8,060 shares during the period. Russell Investments Group Ltd. raised its stake in shares of bluebird bio by 53.2% in the first quarter. Russell Investments Group Ltd. now owns 98,863 shares of the biotechnology company’s stock worth $314,000 after buying an additional 34,322 shares during the period. Boulder Hill Capital Management LP bought a new position in shares of bluebird bio in the first quarter worth about $51,000. Profund Advisors LLC bought a new position in shares of bluebird bio in the first quarter worth about $945,000. Finally, Granahan Investment Management LLC raised its stake in shares of bluebird bio by 20.4% in the fourth quarter. Granahan Investment Management LLC now owns 709,529 shares of the biotechnology company’s stock worth $4,910,000 after buying an additional 120,446 shares during the period. 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.