bluebird bio, Inc. (BLUE) Given Outperform Rating at Leerink Swann

bluebird bio, Inc. (NASDAQ:BLUE)‘s stock had its “outperform” rating restated by research analysts at Leerink Swann in a research note issued to investors on Wednesday. They currently have a $162.00 target price on the biotechnology company’s stock, up from their prior target price of $145.00. Leerink Swann’s price objective points to a potential upside of 16.46% from the company’s previous close.

A number of other equities analysts also recently issued reports on the company. Cowen and Company restated an “outperform” rating on shares of bluebird bio in a research note on Thursday, August 31st. Wells Fargo & Company restated an “outperform” rating and issued a $158.00 price target (up from $134.00) on shares of bluebird bio in a research note on Tuesday, September 5th. Wedbush restated an “outperform” rating and issued a $135.00 price target (up from $121.00) on shares of bluebird bio in a research note on Friday, September 1st. Maxim Group restated a “buy” rating and issued a $170.00 price target (up from $100.00) on shares of bluebird bio in a research note on Monday, October 9th. Finally, Jefferies Group LLC restated a “buy” rating on shares of bluebird bio in a research note on Thursday, July 6th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $123.31.

bluebird bio (NASDAQ:BLUE) last released its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($1.73) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.66) by ($0.07). The firm had revenue of $16.70 million during the quarter, compared to analysts’ expectations of $6.29 million. bluebird bio had a negative return on equity of 32.19% and a negative net margin of 1,080.59%. The business’s quarterly revenue was up 977.4% on a year-over-year basis. During the same quarter last year, the business earned ($1.59) earnings per share.

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In other bluebird bio news, insider Philip D. Gregory sold 750 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $99.00, for a total transaction of $74,250.00. Following the sale, the insider now directly owns 31,234 shares of the company’s stock, valued at $3,092,166. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Nick Leschly sold 7,050 shares of the firm’s stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $145.14, for a total value of $1,023,237.00. Following the sale, the insider now directly owns 259,059 shares in the company, valued at $37,599,823.26. The disclosure for this sale can be found here. Over the last three months, insiders have sold 150,002 shares of company stock worth $18,840,335. Insiders own 3.90% of the company’s stock.

Several institutional investors have recently modified their holdings of BLUE. QS Investors LLC grew its position in shares of bluebird bio by 70.7% during the second quarter. QS Investors LLC now owns 1,207 shares of the biotechnology company’s stock valued at $127,000 after purchasing an additional 500 shares in the last quarter. Bank of Montreal Can grew its position in shares of bluebird bio by 118.9% during the second quarter. Bank of Montreal Can now owns 1,677 shares of the biotechnology company’s stock valued at $176,000 after purchasing an additional 911 shares in the last quarter. Turner Investments LLC purchased a new position in shares of bluebird bio during the second quarter valued at about $184,000. SG Americas Securities LLC grew its position in shares of bluebird bio by 17.9% during the second quarter. SG Americas Securities LLC now owns 1,945 shares of the biotechnology company’s stock valued at $204,000 after purchasing an additional 295 shares in the last quarter. Finally, Fairfield Bush & CO. purchased a new position in shares of bluebird bio during the second quarter valued at about $210,000.

About bluebird bio

bluebird bio, Inc is a clinical-stage biotechnology company. The Company is focused on developing gene therapies for severe diseases and cancer. With its lentiviral-based gene therapy and gene editing capabilities, it has built an integrated product platform with various applications in these areas. The Company’s clinical programs in severe genetic diseases include its LentiGlobin product candidate to treat transfusion-dependent b-thalassemia and to treat severe sickle cell disease (SCD) and its Lenti-D product candidate to treat cerebral adrenoleukodystrophy (CALD).

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