bluebird bio (NASDAQ:BLUE) Upgraded to Outperform by Raymond James

Raymond James upgraded shares of bluebird bio (NASDAQ:BLUEGet Rating) from a market perform rating to an outperform rating in a report published on Tuesday morning, Marketbeat reports. They currently have $8.00 target price on the biotechnology company’s stock.

Several other research firms also recently weighed in on BLUE. Cowen downgraded bluebird bio from an outperform rating to a market perform rating in a research note on Wednesday, April 6th. SVB Leerink dropped their price target on bluebird bio from $10.00 to $8.00 and set a market perform rating on the stock in a research note on Wednesday, April 6th. Morgan Stanley dropped their price target on bluebird bio to $3.00 and set an underweight rating on the stock in a research note on Tuesday, May 17th. Wedbush decreased their price objective on bluebird bio from $10.00 to $8.00 and set a neutral rating for the company in a report on Tuesday, May 10th. Finally, Barclays decreased their price objective on bluebird bio from $4.00 to $3.00 in a report on Tuesday, May 10th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, bluebird bio currently has a consensus rating of Hold and an average target price of $11.71.

bluebird bio Trading Up 7.7 %

BLUE opened at $4.04 on Tuesday. The firm has a market cap of $288.66 million, a price-to-earnings ratio of -0.38 and a beta of 1.29. bluebird bio has a 12 month low of $2.87 and a 12 month high of $26.07. The stock has a fifty day moving average price of $4.12 and a 200-day moving average price of $4.84.

bluebird bio (NASDAQ:BLUEGet Rating) last announced its earnings results on Monday, May 9th. The biotechnology company reported ($1.66) earnings per share for the quarter, missing the consensus estimate of ($1.26) by ($0.40). bluebird bio had a negative return on equity of 111.73% and a negative net margin of 2,183.15%. The business had revenue of $1.95 million for the quarter, compared to analysts’ expectations of $0.17 million. During the same quarter last year, the firm earned ($3.07) earnings per share. The firm’s quarterly revenue was up 117.6% compared to the same quarter last year. On average, equities research analysts forecast that bluebird bio will post -5.07 EPS for the current year.

Hedge Funds Weigh In On bluebird bio

Hedge funds have recently made changes to their positions in the company. Amalgamated Bank purchased a new stake in shares of bluebird bio in the first quarter valued at approximately $39,000. US Bancorp DE grew its position in shares of bluebird bio by 82.9% in the first quarter. US Bancorp DE now owns 8,486 shares of the biotechnology company’s stock valued at $41,000 after purchasing an additional 3,847 shares in the last quarter. Raymond James & Associates purchased a new stake in shares of bluebird bio in the first quarter valued at approximately $50,000. Penserra Capital Management LLC purchased a new stake in shares of bluebird bio in the first quarter valued at approximately $53,000. Finally, Bank of Montreal Can purchased a new stake in shares of bluebird bio in the first quarter valued at approximately $58,000. Institutional investors and hedge funds own 96.38% of the company’s stock.

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 ß-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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