Royal Bank of Canada Reiterates Sector Perform Rating for bluebird bio (NASDAQ:BLUE)

bluebird bio (NASDAQ:BLUE)‘s stock had its “sector perform” rating reaffirmed by equities research analysts at Royal Bank of Canada in a note issued to investors on Friday,Benzinga reports. They presently have a $4.00 price target on the biotechnology company’s stock.

Other research analysts have also recently issued reports about the stock. Wells Fargo & Company reduced 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 research report on Wednesday, September 25th. Bank of America cut shares of bluebird bio from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $3.00 to $0.50 in a research report on Friday. Barclays cut their price objective on bluebird bio from $4.00 to $2.00 and set an “overweight” rating on the stock in a research report on Friday. JPMorgan Chase & Co. downgraded bluebird bio from a “neutral” rating to an “underweight” rating in a research report on Friday. Finally, StockNews.com initiated coverage on bluebird bio in a report on Sunday, November 10th. They set a “sell” rating on the stock. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $3.03.

bluebird bio Trading Down 11.5 %

Shares of BLUE opened at $0.32 on Friday. bluebird bio has a twelve month low of $0.32 and a twelve month high of $5.53. The firm has a market capitalization of $62.21 million, a P/E ratio of -0.14 and a beta of 0.76. The company has a current ratio of 0.68, a quick ratio of 0.57 and a debt-to-equity ratio of 0.37. The stock’s fifty day simple moving average is $0.49 and its 200 day simple moving average is $0.78.

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

Hedge Funds Weigh In On bluebird bio

A number of institutional investors have recently made changes to their positions in the business. Allegheny Financial Group LTD acquired a new stake in bluebird bio in the second quarter valued at $25,000. Price T Rowe Associates Inc. MD lifted its position in shares of bluebird bio by 113.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 54,714 shares of the biotechnology company’s stock worth $71,000 after purchasing an additional 29,113 shares during the last quarter. Bayesian Capital Management LP acquired a new position in bluebird bio in the first quarter worth about $52,000. American International Group Inc. raised its stake in bluebird bio by 77.4% during the first quarter. American International Group Inc. now owns 94,371 shares of the biotechnology company’s stock valued at $121,000 after buying an additional 41,177 shares in the last quarter. Finally, State Street Corp lifted its holdings in bluebird bio by 1.1% during the 3rd quarter. State Street Corp now owns 3,841,923 shares of the biotechnology company’s stock worth $1,996,000 after buying an additional 43,382 shares during the last quarter. 87.43% of the stock is owned by institutional investors and hedge funds.

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.