StockNews.com Initiates Coverage on bluebird bio (NASDAQ:BLUE)

Analysts at StockNews.com initiated coverage on shares of bluebird bio (NASDAQ:BLUE) in a report released on Sunday. The brokerage set a “sell” rating on the biotechnology company’s stock.

A number of other research firms also recently commented on BLUE. Royal Bank of Canada reiterated a “sector perform” rating and set a $4.00 price objective on shares of bluebird bio in a research note on Thursday, August 15th. Barclays decreased their price target on bluebird bio from $8.00 to $4.00 and set an “overweight” rating for the company in a research note on Thursday, August 15th. Wells Fargo & Company decreased their target price on bluebird bio from $3.00 to $2.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 25th. 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 research note on Thursday, August 15th. Finally, Cantor Fitzgerald reiterated a “neutral” rating on shares of bluebird bio in a research report on Monday, September 16th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $3.59.

bluebird bio Stock Up 6.2 %

Shares of NASDAQ BLUE opened at $0.41 on Friday. The company has a quick ratio of 0.57, a current ratio of 0.68 and a debt-to-equity ratio of 0.37. The firm has a 50-day moving average price of $0.50 and a 200 day moving average price of $0.80. bluebird bio has a 52 week low of $0.34 and a 52 week high of $5.53. The stock has a market capitalization of $78.67 million, a price-to-earnings ratio of -0.18 and a beta of 0.76.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Allegheny Financial Group LTD acquired a new position in bluebird bio during the second quarter valued at approximately $25,000. Bayesian Capital Management LP acquired a new position in bluebird bio during the first quarter valued at approximately $52,000. Price T Rowe Associates Inc. MD boosted its position in 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 valued at $71,000 after purchasing an additional 29,113 shares during the last quarter. SG Americas Securities LLC boosted its position in bluebird bio by 458.8% during the first quarter. SG Americas Securities LLC now owns 80,032 shares of the biotechnology company’s stock valued at $102,000 after purchasing an additional 65,710 shares during the last quarter. Finally, American International Group Inc. boosted its position 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 purchasing an additional 41,177 shares during the last quarter. 87.43% of the stock is owned by institutional investors and hedge funds.

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.