Weekly Research Analysts’ Ratings Updates for bluebird bio (BLUE)

bluebird bio (NASDAQ: BLUE) recently received a number of ratings updates from brokerages and research firms:

  • 8/2/2017 – bluebird bio was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 7/27/2017 – bluebird bio is now covered by analysts at Sanford C. Bernstein. They set a “market perform” rating and a $109.00 price target on the stock.
  • 7/24/2017 – bluebird bio had its “sell” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $39.00 price target on the stock. They wrote, “LentiGlobin R&D, A Costly Endeavor. From 2014 to 2016, LentiGlobin has accounted for approximately $127 million in direct R&D expenditures. While these expenditures for LentiGlobin have been substantial, they remain only a portion of total direct R&D ($240 million) and reported accounting R&D ($401 million). Given the 23 patients dosed with the gene therapy by ASH 2016, LentiGlobin amounted to an expense of $5.5 million per patient dosed. We estimate approximately 127 patients could be required to complete development for these programs, amounting to a cost of ~$700 million. We believe R&D estimates could accelerate and model for a slightly increased burn over future years.””
  • 7/18/2017 – bluebird bio was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Bluebird Bio, Inc. is a biotechnology company. It focuses on the development, manufacture and marketing of therapies for severe genetic disorders such as childhood cerebral adrenoleukodystrophy, neurodegenerative disorders and beta-thalassemia. The company operates in the U.S. and Europe. Bluebird Bio, Inc. is headquartered in Cambridge, Massachusetts. “
  • 7/10/2017 – bluebird bio had its “equal weight” rating reaffirmed by analysts at Morgan Stanley. They now have a $103.00 price target on the stock, down previously from $105.00.
  • 7/6/2017 – bluebird bio had its “buy” rating reaffirmed by analysts at Jefferies Group LLC.
  • 7/4/2017 – bluebird bio was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $118.00 price target on the stock. According to Zacks, “Bluebird Bio, Inc. is a biotechnology company. It focuses on the development, manufacture and marketing of therapies for severe genetic disorders such as childhood cerebral adrenoleukodystrophy, neurodegenerative disorders and beta-thalassemia. The company operates in the U.S. and Europe. Bluebird Bio, Inc. is headquartered in Cambridge, Massachusetts. “
  • 6/30/2017 – bluebird bio was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
  • 6/30/2017 – bluebird bio was downgraded by analysts at BTIG Research from a “buy” rating to a “neutral” rating. They now have a $108.25 price target on the stock, up previously from $37.05. They wrote, “generally captured” data updates from ASCO and EHA. Positive On Outlook But Not Enough To Remain BullishMeanwhile, Bluebird has a “good lead” over the competition in drugs targeting anti-BCMA and a Phase 1 study of bb21217 will commence in the bottom half of 2017. But at the same time competitive efforts from rivals will also ramp up, including Kite Pharma Inc (NASDAQ: KITE), which will begin a study of a fully-human anti-BCMA CAR T therapy in the third quarter.The analyst remains “more optimistic than most” regarding the LentiGlobin program for Beta-thalassemia and Sickle-cell disease. Also, the company’s broadening of its oncology efforts may be a source of concern among some investors but early success in bb2121 is indeed supportive of a “broader effort in larger markets with better defined patient populations.”
  • 6/28/2017 – bluebird bio had its “buy” rating reaffirmed by analysts at BTIG Research. They now have a $112.00 price target on the stock.
  • 6/26/2017 – bluebird bio was given a new $125.00 price target on by analysts at Janney Montgomery Scott. They now have a “buy” rating on the stock.
  • 6/24/2017 – bluebird bio was given a new $39.00 price target on by analysts at Cantor Fitzgerald. They now have a “sell” rating on the stock.
  • 6/23/2017 – bluebird bio was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.
  • 6/23/2017 – bluebird bio had its “buy” rating reaffirmed by analysts at Cowen and Company.
  • 6/23/2017 – bluebird bio had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $100.00 price target on the stock, down previously from $121.00.
  • 6/16/2017 – bluebird bio had its “reduce” rating reaffirmed by analysts at Standpoint Research. They now have a $110.00 price target on the stock.
  • 6/14/2017 – bluebird bio had its “equal weight” rating reaffirmed by analysts at Morgan Stanley. They now have a $105.00 price target on the stock, up previously from $91.00.
  • 6/9/2017 – bluebird bio had its “outperform” rating reaffirmed by analysts at Cowen and Company.
  • 6/7/2017 – bluebird bio had its price target raised by analysts at Janney Montgomery Scott from $81.00 to $125.00. They now have a “buy” rating on the stock.
  • 6/6/2017 – bluebird bio had its “outperform” rating reaffirmed by analysts at Wedbush.
  • 6/6/2017 – bluebird bio had its “buy” rating reaffirmed by analysts at BMO Capital Markets. They now have a $108.00 price target on the stock.
  • 6/5/2017 – bluebird bio had its “hold” rating reaffirmed by analysts at Bank of America Corporation. They now have a $95.00 price target on the stock.
  • 6/5/2017 – bluebird bio was given a new $37.00 price target on by analysts at Cantor Fitzgerald. They now have a “sell” rating on the stock. They wrote, “Updated Data.””
  • 6/5/2017 – bluebird bio was upgraded by analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating. They now have a $108.00 price target on the stock, up previously from $61.00.

bluebird bio, Inc. (NASDAQ:BLUE) opened at 90.85 on Thursday. bluebird bio, Inc. has a 52 week low of $37.05 and a 52 week high of $123.75. The company’s 50-day moving average is $102.86 and its 200-day moving average is $88.98. The company’s market cap is $3.72 billion.

bluebird bio (NASDAQ:BLUE) last issued its quarterly earnings data on Tuesday, August 1st. The biotechnology company reported ($1.73) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.66) by $0.07. bluebird bio had a negative return on equity of 35.17% and a negative net margin of 2,402.03%. The company had revenue of $16.70 million during the quarter, compared to the consensus estimate of $6.29 million. During the same quarter last year, the company posted ($1.59) earnings per share. The firm’s revenue for the quarter was up 977.4% compared to the same quarter last year. On average, analysts anticipate that bluebird bio, Inc. will post ($6.70) EPS for the current fiscal year.

In related news, insider David Davidson sold 1,000 shares of the stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $90.00, for a total transaction of $90,000.00. Following the sale, the insider now directly owns 18,177 shares of the company’s stock, valued at approximately $1,635,930. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel Lynch sold 2,000 shares of the stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $80.00, for a total transaction of $160,000.00. Following the sale, the director now directly owns 3,400 shares in the company, valued at $272,000. The disclosure for this sale can be found here. Over the last quarter, insiders sold 73,245 shares of company stock valued at $7,660,998. 3.90% of the stock is owned by company insiders.

bluebird bio, Inc is a clinical-stage biotechnology company. The Company is focused on developing gene therapies for severe diseases and cancer. With its lentiviral-based gene therapy and gene editing capabilities, it has built an integrated product platform with various applications in these areas. The Company’s clinical programs in severe genetic diseases include its LentiGlobin product candidate to treat transfusion-dependent b-thalassemia and to treat severe sickle cell disease (SCD) and its Lenti-D product candidate to treat cerebral adrenoleukodystrophy (CALD).

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