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

Research analysts at StockNews.com initiated coverage on shares of bluebird bio (NASDAQ:BLUE) in a note issued to investors on Friday. The firm set a “sell” rating on the biotechnology company’s stock.

Other equities research analysts also recently issued reports about the stock. Bank of America downgraded shares of bluebird bio from a “buy” rating to a “neutral” rating and reduced their price target for the company from $60.00 to $10.00 in a research note on Friday, November 15th. Royal Bank of Canada reissued a “sector perform” rating and issued a $80.00 target price on shares of bluebird bio in a research report on Friday, November 15th. Wells Fargo & Company decreased their price target on bluebird bio from $60.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 25th. JPMorgan Chase & Co. cut bluebird bio from a “neutral” rating to an “underweight” rating in a research note on Friday, November 15th. Finally, Cantor Fitzgerald reissued a “neutral” rating on shares of bluebird bio in a research note on Monday, September 16th. Three analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $49.14.

bluebird bio Price Performance

NASDAQ:BLUE opened at $9.23 on Friday. The stock has a 50 day moving average price of $8.57 and a 200 day moving average price of $13.75. The stock has a market cap of $89.73 million, a PE ratio of -4.94 and a beta of 0.72. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.33 and a current ratio of 0.51. bluebird bio has a one year low of $5.80 and a one year high of $38.40.

bluebird bio (NASDAQ:BLUE) last released its quarterly earnings data on Friday, September 27th. The biotechnology company reported ($8.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($8.00) by ($0.40). bluebird bio had a negative return on equity of 322.46% and a negative net margin of 565.74%. The firm had revenue of $16.10 million for the quarter, compared to analyst estimates of $16.09 million. Equities research analysts expect that bluebird bio will post -1.35 EPS for the current fiscal year.

Hedge Funds Weigh In On bluebird bio

Hedge funds and other institutional investors have recently bought and sold shares of the company. Allegheny Financial Group LTD acquired a new position in bluebird bio during the 2nd quarter worth approximately $25,000. Verition Fund Management LLC purchased a new stake in shares of bluebird bio in the third quarter valued at approximately $42,000. SG Americas Securities LLC grew its holdings in bluebird bio by 152.4% during the third quarter. SG Americas Securities LLC now owns 122,855 shares of the biotechnology company’s stock worth $64,000 after acquiring an additional 74,185 shares during the period. Captrust Financial Advisors grew its holdings in bluebird bio by 48.2% during the third quarter. Captrust Financial Advisors now owns 237,648 shares of the biotechnology company’s stock worth $123,000 after acquiring an additional 77,293 shares during the period. Finally, Barclays PLC raised its position in bluebird bio by 273.7% in the third quarter. Barclays PLC now owns 252,062 shares of the biotechnology company’s stock worth $130,000 after acquiring an additional 184,605 shares in the last quarter. 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.