bluebird bio, Inc. (BLUE) Trading Up 11.7% Following Analyst Upgrade

Shares of bluebird bio, Inc. (NASDAQ:BLUE) were up 11.7% during trading on Friday after SunTrust Banks raised their price target on the stock from $108.00 to $163.00. SunTrust Banks currently has a buy rating on the stock. bluebird bio traded as high as $158.10 and last traded at $159.65. Approximately 787,443 shares were traded during trading, a decline of 4% from the average daily volume of 816,660 shares. The stock had previously closed at $142.95.

Several other analysts have also recently commented on the stock. Cowen and Company reissued an “outperform” rating on shares of bluebird bio in a research note on Thursday, August 31st. Wells Fargo & Company reissued an “outperform” rating and set a $158.00 price target (up from $134.00) on shares of bluebird bio in a research note on Tuesday, September 5th. Wedbush reissued an “outperform” rating and set a $135.00 price target (up from $121.00) on shares of bluebird bio in a research note on Friday, September 1st. Maxim Group reissued a “buy” rating and set 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 reissued a “buy” rating on shares of bluebird bio in a research note on Thursday, July 6th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $131.05.

In related news, insider Nick Leschly sold 46,833 shares of the firm’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $122.27, for a total transaction of $5,726,270.91. Following the sale, the insider now directly owns 289,368 shares in the company, valued at $35,381,025.36. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Philip D. Gregory sold 750 shares of the firm’s stock in a transaction on 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 owns 31,234 shares in the company, valued at $3,092,166. The disclosure for this sale can be found here. Over the last three months, insiders have sold 186,268 shares of company stock worth $24,366,623. Insiders own 3.90% of the company’s stock.

Large investors have recently modified their holdings of the stock. QS Investors LLC raised its holdings 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 worth $127,000 after acquiring an additional 500 shares during the period. Bank of Montreal Can raised its holdings 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 worth $176,000 after acquiring an additional 911 shares during the period. Turner Investments LLC acquired a new stake in shares of bluebird bio during the second quarter worth $184,000. SG Americas Securities LLC raised its holdings 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 worth $204,000 after acquiring an additional 295 shares during the period. Finally, Fairfield Bush & CO. acquired a new stake in shares of bluebird bio during the second quarter worth $210,000.

bluebird bio (NASDAQ:BLUE) last issued its quarterly earnings data on Wednesday, November 1st. The biotechnology company reported ($1.73) EPS for the quarter, missing analysts’ consensus estimates of ($1.68) by ($0.05). bluebird bio had a negative return on equity of 28.79% and a negative net margin of 883.18%. The company had revenue of $7.71 million for the quarter, compared to analyst estimates of $8.47 million. During the same quarter in the previous year, the business earned ($2.07) earnings per share. The company’s revenue was up 397.4% on a year-over-year basis. sell-side analysts expect that bluebird bio, Inc. will post -6.76 EPS for the current fiscal year.

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bluebird bio Company Profile

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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