Brokerages Set bluebird bio, Inc. (NASDAQ:BLUE) PT at $3.03

bluebird bio, Inc. (NASDAQ:BLUE) has been given an average recommendation of “Hold” by the eleven ratings firms that are covering the stock, Marketbeat reports. Two research 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. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $3.03.

A number of equities analysts recently weighed in on the stock. Barclays reduced their target price on shares of bluebird bio from $4.00 to $2.00 and set an “overweight” rating for the company in a research note on Friday, November 15th. Wells Fargo & Company dropped their price objective on shares of 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. StockNews.com initiated coverage on bluebird bio in a report on Monday, November 18th. They set a “sell” rating for the company. Royal Bank of Canada restated a “sector perform” rating and set a $4.00 price objective on shares of bluebird bio in a research report on Friday, November 15th. Finally, JPMorgan Chase & Co. downgraded bluebird bio from a “neutral” rating to an “underweight” rating in a research report on Friday, November 15th.

bluebird bio Stock Up 3.3 %

bluebird bio stock opened at $0.36 on Friday. The company’s 50-day moving average price is $0.46 and its two-hundred day moving average price is $0.76. The stock has a market cap of $70.33 million, a price-to-earnings ratio of -0.19 and a beta of 0.76. bluebird bio has a 52 week low of $0.29 and a 52 week high of $5.53. The company has a current ratio of 0.51, a quick ratio of 0.33 and a debt-to-equity ratio of 0.37.

bluebird bio (NASDAQ:BLUE) last issued its earnings results 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 565.74% and a negative return on equity of 322.46%. On average, analysts expect that bluebird bio will post -1.35 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in bluebird bio by 19.6% during the first 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 during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of bluebird bio by 113.7% during the 1st 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 period. American International Group Inc. increased its position in shares of 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 acquiring an additional 41,177 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of bluebird bio by 315.3% in the 2nd quarter. AQR Capital Management LLC now owns 1,334,519 shares of the biotechnology company’s stock valued at $1,223,000 after acquiring an additional 1,013,144 shares during the period. Finally, Bayesian Capital Management LP acquired a new position in shares of bluebird bio in the 1st quarter worth approximately $52,000. Institutional investors and hedge funds own 87.43% of the company’s stock.

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.