bluebird bio (NASDAQ:BLUE) Upgraded to Sell at StockNews.com

StockNews.com upgraded shares of bluebird bio (NASDAQ:BLUE) to a sell rating in a research report sent to investors on Friday morning.

Several other analysts also recently issued reports on the stock. Wedbush reaffirmed a neutral rating and set a $5.00 price objective (down from $7.00) on shares of bluebird bio in a report on Tuesday, November 7th. HSBC began coverage on shares of bluebird bio in a research note on Wednesday, September 6th. They set a buy rating and a $4.21 target price for the company. Raymond James upped their target price on shares of bluebird bio from $10.00 to $13.00 and gave the company an outperform rating in a research note on Wednesday, November 8th. Finally, Cantor Fitzgerald began coverage on shares of bluebird bio in a research note on Tuesday, October 17th. They set a neutral rating for the company. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $7.62.

bluebird bio Stock Up 12.0 %

BLUE stock opened at $3.83 on Friday. The company has a market capitalization of $418.76 million, a price-to-earnings ratio of -5.18 and a beta of 0.87. bluebird bio has a 12 month low of $2.52 and a 12 month high of $8.58. The firm has a 50 day moving average of $3.07 and a two-hundred day moving average of $3.46.

bluebird bio (NASDAQ:BLUE) last posted its quarterly earnings data on Tuesday, November 7th. The biotechnology company reported ($0.66) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.69) by $0.03. The business had revenue of $12.40 million during the quarter, compared to the consensus estimate of $13.56 million. bluebird bio had a negative net margin of 419.64% and a negative return on equity of 34.32%. bluebird bio’s quarterly revenue was up 17364.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.92) EPS. On average, research analysts expect that bluebird bio will post -1.83 EPS for the current fiscal year.

Hedge Funds Weigh In On bluebird bio

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp lifted its holdings in bluebird bio by 597.0% during the 3rd quarter. State Street Corp now owns 12,720,480 shares of the biotechnology company’s stock valued at $80,521,000 after purchasing an additional 10,895,379 shares during the last quarter. Granahan Investment Management LLC lifted its holdings in bluebird bio by 236.0% during the 2nd quarter. Granahan Investment Management LLC now owns 4,856,322 shares of the biotechnology company’s stock valued at $15,977,000 after purchasing an additional 3,411,065 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in bluebird bio by 825.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,302,473 shares of the biotechnology company’s stock valued at $7,000,000 after purchasing an additional 2,053,639 shares during the last quarter. Pictet Asset Management SA lifted its holdings in bluebird bio by 184.6% during the 1st quarter. Pictet Asset Management SA now owns 3,104,751 shares of the biotechnology company’s stock valued at $9,873,000 after purchasing an additional 2,013,689 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in bluebird bio by 198.9% during the 2nd quarter. Renaissance Technologies LLC now owns 2,810,000 shares of the biotechnology company’s stock valued at $11,633,000 after purchasing an additional 1,870,000 shares during the last quarter. 87.43% of the stock is owned by 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.