bluebird bio (NASDAQ:BLUE) Price Target Cut to $2.00 by Analysts at Barclays

by · The Markets Daily

bluebird bio (NASDAQ:BLUE – Free Report) had its price target reduced by Barclays from $4.00 to $2.00 in a research note released on Friday,Benzinga reports. They currently have an overweight rating on the biotechnology company’s stock.

BLUE has been the subject of several other research reports. Bank of America downgraded shares of bluebird bio from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $3.00 to $0.50 in a research report on Friday. StockNews.com began coverage on shares of bluebird bio in a research report on Sunday, November 10th. They issued a “sell” rating for the company. Wells Fargo & Company reduced their price target on shares of bluebird bio from $3.00 to $2.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 25th. Cantor Fitzgerald reiterated a “neutral” rating on shares of bluebird bio in a research report on Monday, September 16th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $4.00 price target on shares of bluebird bio in a research report on Thursday, August 15th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $3.03.

Check Out Our Latest Stock Report on bluebird bio

bluebird bio Stock Down 11.5 %

bluebird bio stock traded down $0.04 during trading on Friday, reaching $0.32. The stock had a trading volume of 9,162,727 shares, compared to its average volume of 7,439,042. The stock has a market cap of $62.21 million, a PE ratio of -0.14 and a beta of 0.76. The company has a quick ratio of 0.57, a current ratio of 0.68 and a debt-to-equity ratio of 0.37. bluebird bio has a 52-week low of $0.32 and a 52-week high of $5.53. The business has a 50 day moving average price of $0.49 and a 200 day moving average price of $0.78.

bluebird bio (NASDAQ:BLUE – Get Free Report) last issued its quarterly earnings data on Friday, September 13th. The biotechnology company reported ($0.36) earnings per share for the quarter. The company 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, analysts predict that bluebird bio will post -1.41 EPS for the current year.

Hedge Funds Weigh In On bluebird bio

Institutional investors have recently bought and sold shares of the company. Allegheny Financial Group LTD acquired a new position in bluebird bio in the 2nd quarter valued at $25,000. Bayesian Capital Management LP acquired a new position in shares of bluebird bio during the 1st quarter worth $52,000. Price T Rowe Associates Inc. MD grew its stake 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. SG Americas Securities LLC grew its stake in shares of bluebird bio by 458.8% during the 1st quarter. SG Americas Securities LLC now owns 80,032 shares of the biotechnology company’s stock worth $102,000 after purchasing an additional 65,710 shares during the period. Finally, Verition Fund Management LLC acquired a new position in shares of bluebird bio during the 3rd quarter worth $42,000. 87.43% of the stock is owned by institutional investors and hedge funds.

About bluebird bio

(Get Free Report)

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.

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