bluebird bio (NASDAQ:BLUE) Given New $4.00 Price Target at Morgan Stanley

bluebird bio (NASDAQ:BLUEGet Rating) had its target price increased by Morgan Stanley from $3.00 to $4.00 in a research note released on Tuesday morning, Benzinga reports. They currently have an underweight rating on the biotechnology company’s stock.

A number of other equities research analysts have also weighed in on BLUE. StockNews.com initiated coverage on bluebird bio in a research note on Wednesday, October 12th. They issued a sell rating for the company. SVB Leerink reduced their price target on bluebird bio from $9.00 to $8.00 and set a market perform rating on the stock in a report on Monday. Finally, Royal Bank of Canada reduced their price target on bluebird bio to $8.00 and set a sector perform rating on the stock in a report on Tuesday, November 8th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $6.75.

bluebird bio Trading Up 5.5 %

NASDAQ BLUE opened at $6.53 on Tuesday. bluebird bio has a 1-year low of $2.87 and a 1-year high of $8.58. The stock has a 50-day moving average of $7.40 and a 200-day moving average of $6.52. The firm has a market cap of $541.49 million, a PE ratio of -1.07 and a beta of 0.99.

bluebird bio (NASDAQ:BLUEGet Rating) last released its earnings results on Monday, November 7th. The biotechnology company reported ($0.92) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.28) by $0.36. bluebird bio had a negative return on equity of 173.58% and a negative net margin of 8,828.28%. The company had revenue of $0.07 million during the quarter, compared to analyst estimates of $2.25 million. As a group, equities research analysts forecast that bluebird bio will post -4.36 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Nick Leschly sold 4,290 shares of the stock in a transaction on Wednesday, January 11th. The stock was sold at an average price of $7.80, for a total transaction of $33,462.00. Following the transaction, the director now directly owns 280,149 shares of the company’s stock, valued at approximately $2,185,162.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 9,506 shares of company stock valued at $72,088 in the last ninety days. 2.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On bluebird bio

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Hennion & Walsh Asset Management Inc. increased its stake in shares of bluebird bio by 11.1% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 103,139 shares of the biotechnology company’s stock worth $714,000 after purchasing an additional 10,282 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of bluebird bio by 8.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 323,492 shares of the biotechnology company’s stock worth $2,047,000 after purchasing an additional 25,580 shares in the last quarter. Captrust Financial Advisors increased its stake in bluebird bio by 22.5% in the 3rd quarter. Captrust Financial Advisors now owns 14,679 shares of the biotechnology company’s stock worth $93,000 after buying an additional 2,700 shares in the last quarter. Balyasny Asset Management LLC increased its stake in bluebird bio by 30.0% in the 3rd quarter. Balyasny Asset Management LLC now owns 118,333 shares of the biotechnology company’s stock worth $749,000 after buying an additional 27,305 shares in the last quarter. Finally, Kingsview Wealth Management LLC purchased a new stake in bluebird bio in the 3rd quarter worth $95,000. 79.01% of the stock is currently owned by hedge funds and other institutional investors.

About bluebird bio

(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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