Brokerages Set bluebird bio, Inc. (NASDAQ:BLUE) Price Target at $4.63

Shares of bluebird bio, Inc. (NASDAQ:BLUE) have earned a consensus rating of “Hold” from the twelve ratings firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $4.63.

BLUE has been the subject of a number of research reports. JPMorgan Chase & Co. downgraded bluebird bio from an “overweight” rating to a “neutral” rating in a research report on Thursday, August 15th. Bank of America decreased their target price on bluebird bio from $4.00 to $3.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Wells Fargo & Company cut their price target on shares of bluebird bio from $3.00 to $2.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 25th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $4.00 price target on shares of bluebird bio in a research report on Thursday, August 15th. Finally, Barclays dropped their price objective on shares of bluebird bio from $8.00 to $4.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in bluebird bio by 19.6% in the 1st quarter. Vanguard Group Inc. now owns 10,498,460 shares of the biotechnology company’s stock worth $13,438,000 after buying an additional 1,723,081 shares in the last quarter. AQR Capital Management LLC increased its position in shares of bluebird bio by 315.3% during the second quarter. AQR Capital Management LLC now owns 1,334,519 shares of the biotechnology company’s stock worth $1,223,000 after acquiring an additional 1,013,144 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of bluebird bio by 19.4% in the second quarter. Bank of New York Mellon Corp now owns 685,757 shares of the biotechnology company’s stock worth $675,000 after acquiring an additional 111,574 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in bluebird bio by 38.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 325,111 shares of the biotechnology company’s stock valued at $416,000 after purchasing an additional 90,139 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in bluebird bio by 152.4% during the 3rd quarter. SG Americas Securities LLC now owns 122,855 shares of the biotechnology company’s stock valued at $64,000 after purchasing an additional 74,185 shares in the last quarter. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

bluebird bio Price Performance

bluebird bio stock opened at $0.46 on Tuesday. bluebird bio has a 1 year low of $0.45 and a 1 year high of $5.53. The firm has a 50 day moving average price of $0.53 and a 200 day moving average price of $0.83. The company has a market cap of $50.73 million, a price-to-earnings ratio of -0.63 and a beta of 0.75. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.57 and a current ratio of 0.68.

bluebird bio (NASDAQ:BLUE) last announced its quarterly earnings data on Friday, September 13th. The biotechnology company reported ($0.36) earnings per share (EPS) for the quarter. The company had revenue of $18.57 million for the quarter. bluebird bio had a negative net margin of 567.29% and a negative return on equity of 207.25%. Sell-side analysts predict that bluebird bio will post -1.42 earnings per share for the current year.

About bluebird bio

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.