Barclays Has Lowered Expectations for bluebird bio (NASDAQ:BLUE) Stock Price

bluebird bio (NASDAQ:BLUE) had its price target cut by research analysts at Barclays from $4.00 to $2.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the biotechnology company’s stock.

Several other analysts have also issued reports on BLUE. JPMorgan Chase & Co. lowered bluebird bio from a “neutral” rating to an “underweight” rating in a report on Friday. StockNews.com started coverage on bluebird bio in a research report on Sunday, November 10th. They set a “sell” rating for the company. Wells Fargo & Company lowered their target price on bluebird bio from $3.00 to $2.00 and set an “equal weight” rating for the company in a report on Wednesday, September 25th. Cantor Fitzgerald reiterated a “neutral” rating on shares of bluebird bio in a report on Monday, September 16th. Finally, Bank of America downgraded bluebird bio from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $3.00 to $0.50 in a report on Friday. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $3.03.

bluebird bio Trading Down 11.5 %

NASDAQ:BLUE opened at $0.32 on Friday. bluebird bio has a fifty-two week low of $0.32 and a fifty-two week high of $5.53. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.68 and a quick ratio of 0.57. The stock has a market capitalization of $62.21 million, a PE ratio of -0.14 and a beta of 0.76. The business’s 50-day simple moving average is $0.49 and its 200-day simple moving average is $0.78.

bluebird bio (NASDAQ:BLUE) last posted its quarterly earnings results on Friday, September 13th. The biotechnology company reported ($0.36) earnings per share for the quarter. bluebird bio had a negative return on equity of 207.25% and a negative net margin of 567.29%. The company had revenue of $18.57 million for the quarter. Sell-side analysts expect that bluebird bio will post -1.41 earnings per share for the current fiscal year.

Institutional Trading of bluebird bio

Institutional investors have recently added to or reduced their stakes in the business. Allegheny Financial Group LTD purchased a new stake in bluebird bio during the 2nd quarter valued at $25,000. Bayesian Capital Management LP purchased a new position in shares of bluebird bio during the first quarter valued at approximately $52,000. Price T Rowe Associates Inc. MD raised its stake in bluebird bio by 113.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 54,714 shares of the biotechnology company’s stock worth $71,000 after buying an additional 29,113 shares in the last quarter. SG Americas Securities LLC increased its position in shares of bluebird bio by 458.8% during the first quarter. SG Americas Securities LLC now owns 80,032 shares of the biotechnology company’s stock worth $102,000 after purchasing an additional 65,710 shares in the last quarter. Finally, Verition Fund Management LLC acquired a new position in shares of bluebird bio during the third quarter worth $42,000. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

bluebird bio Company Profile

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.