Trading Report: Today, Bluebird Bio Inc. (BLUE) Earns “Buy” Rating from Janney Montgomery Scott

Today, Bluebird Bio Inc. (BLUE) Earns “Buy” Rating from Janney Montgomery Scott

Janney Montgomery Scott reaffirmed their buy rating on shares of Bluebird Bio Inc. (NASDAQ:BLUE) in a report released on Thursday.

Several other equities research analysts have also issued reports on the stock. Jefferies Group set a $80.00 target price on shares of Bluebird Bio and gave the stock a buy rating in a research note on Thursday, November 24th. Wedbush reissued an outperform rating and set a $95.00 target price on shares of Bluebird Bio in a research note on Wednesday, November 23rd. BMO Capital Markets began coverage on shares of Bluebird Bio in a research note on Thursday, November 10th. They set a market perform rating and a $61.00 target price on the stock. BTIG Research reissued a buy rating and set a $83.00 target price on shares of Bluebird Bio in a research note on Monday, November 7th. Finally, Leerink Swann reissued an outperform rating and set a $80.00 target price on shares of Bluebird Bio in a research note on Monday, November 7th. One analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $82.82.

Shares of Bluebird Bio (NASDAQ:BLUE) opened at 60.65 on Thursday. Bluebird Bio has a 52 week low of $35.37 and a 52 week high of $90.01. The company’s market capitalization is $2.26 billion. The firm’s 50-day moving average price is $55.97 and its 200 day moving average price is $53.04.

Bluebird Bio (NASDAQ:BLUE) last posted its earnings results on Wednesday, November 2nd. The company reported ($2.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.59) by $0.48. Bluebird Bio had a negative return on equity of 30.79% and a negative net margin of 3,941.72%. The firm had revenue of $1.55 million for the quarter, compared to analysts’ expectations of $1.82 million. During the same period in the previous year, the company earned ($1.18) earnings per share. The company’s revenue was up 17.4% compared to the same quarter last year. Equities analysts predict that Bluebird Bio will post ($7.05) EPS for the current year.

In other Bluebird Bio news, insider Eric Sullivan sold 416 shares of the firm’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $67.00, for a total value of $27,872.00. Following the transaction, the insider now directly owns 5,891 shares of the company’s stock, valued at approximately $394,697. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 3.50% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Advisors LLC increased its stake in shares of Bluebird Bio by 0.8% in the second quarter. BlackRock Advisors LLC now owns 17,403 shares of the company’s stock worth $753,000 after buying an additional 134 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Bluebird Bio by 3.1% in the second quarter. Canada Pension Plan Investment Board now owns 19,800 shares of the company’s stock worth $857,000 after buying an additional 600 shares in the last quarter. California State Teachers Retirement System increased its stake in shares of Bluebird Bio by 1.0% in the third quarter. California State Teachers Retirement System now owns 78,487 shares of the company’s stock worth $5,320,000 after buying an additional 800 shares in the last quarter. Teacher Retirement System of Texas increased its stake in shares of Bluebird Bio by 25.3% in the second quarter. Teacher Retirement System of Texas now owns 5,114 shares of the company’s stock worth $221,000 after buying an additional 1,034 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Bluebird Bio by 5.7% in the third quarter. Principal Financial Group Inc. now owns 21,270 shares of the company’s stock worth $1,442,000 after buying an additional 1,154 shares in the last quarter.

Bluebird Bio Company Profile

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