Barclays Cuts bluebird bio (NASDAQ:BLUE) Price Target to $2.00

bluebird bio (NASDAQ:BLUE) had its price target trimmed by Barclays from $4.00 to $2.00 in a research report sent to investors on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the biotechnology company’s stock.

BLUE has been the subject of a number of other reports. Bank of America lowered bluebird bio from a “buy” rating to a “neutral” rating and decreased their price target for the company from $3.00 to $0.50 in a research note on Friday. Wells Fargo & Company lowered their target price on bluebird bio from $3.00 to $2.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 25th. Robert W. Baird cut their price target on shares of bluebird bio from $7.00 to $6.00 and set an “outperform” rating for the company in a report on Thursday, August 15th. JPMorgan Chase & Co. cut shares of bluebird bio from a “neutral” rating to an “underweight” rating in a research note on Friday. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $4.00 target price on shares of bluebird bio in a research note on Thursday, August 15th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $3.03.

bluebird bio Stock Performance

BLUE stock opened at $0.32 on Friday. The stock’s fifty day moving average is $0.49 and its two-hundred day moving average is $0.78. The stock has a market capitalization of $62.21 million, a price-to-earnings ratio of -0.17 and a beta of 0.76. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.57 and a current ratio of 0.68. bluebird bio has a 1 year low of $0.32 and a 1 year high of $5.53.

bluebird bio (NASDAQ:BLUE) last posted its earnings results on Friday, September 13th. The biotechnology company reported ($0.36) EPS for the quarter. bluebird bio had a negative net margin of 565.74% and a negative return on equity of 238.15%. The business had revenue of $18.57 million during the quarter. On average, research analysts predict that bluebird bio will post -1.41 EPS for the current year.

Institutional Investors Weigh In On bluebird bio

Several institutional investors and hedge funds have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of bluebird bio by 38.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 325,111 shares of the biotechnology company’s stock worth $416,000 after acquiring an additional 90,139 shares in the last quarter. SG Americas Securities LLC raised its position in bluebird bio by 458.8% in the 1st quarter. SG Americas Securities LLC now owns 80,032 shares of the biotechnology company’s stock valued at $102,000 after purchasing an additional 65,710 shares during the last quarter. Vanguard Group Inc. boosted its stake in bluebird bio by 19.6% in the first quarter. Vanguard Group Inc. now owns 10,498,460 shares of the biotechnology company’s stock worth $13,438,000 after purchasing an additional 1,723,081 shares in the last quarter. American International Group Inc. increased its stake in shares of bluebird bio by 77.4% in the first quarter. American International Group Inc. now owns 94,371 shares of the biotechnology company’s stock valued at $121,000 after buying an additional 41,177 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of bluebird bio by 113.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 54,714 shares of the biotechnology company’s stock valued at $71,000 after buying an additional 29,113 shares in the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

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.