bluebird bio (NASDAQ:BLUE) Given New $40.00 Price Target at Barclays

bluebird bio (NASDAQ:BLUE) had its target price lifted by equities researchers at Barclays from $2.00 to $40.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the biotechnology company’s stock. Barclays‘s price target points to a potential upside of 408.91% from the stock’s previous close.

Several other equities research analysts also recently commented on BLUE. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $80.00 target price on shares of bluebird bio in a research note on Friday, November 15th. Bank of America cut shares of bluebird bio from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $60.00 to $10.00 in a research report on Friday, November 15th. Wells Fargo & Company reduced their target price on bluebird bio from $60.00 to $40.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 25th. JPMorgan Chase & Co. lowered bluebird bio from a “neutral” rating to an “underweight” rating in a research report on Friday, November 15th. Finally, StockNews.com initiated coverage on bluebird bio in a research report on Friday, December 20th. They issued a “sell” rating for the company. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $49.14.

bluebird bio Stock Down 10.5 %

Shares of bluebird bio stock opened at $7.86 on Tuesday. bluebird bio has a 12 month low of $5.80 and a 12 month high of $38.40. The business has a fifty day simple moving average of $8.33 and a 200 day simple moving average of $13.14. The company has a quick ratio of 0.33, a current ratio of 0.51 and a debt-to-equity ratio of 0.37. The stock has a market cap of $76.41 million, a PE ratio of -4.20 and a beta of 0.72.

bluebird bio (NASDAQ:BLUE) last posted its earnings results on Friday, September 27th. The biotechnology company reported ($8.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($8.00) by ($0.40). The company had revenue of $16.10 million for the quarter, compared to analyst estimates of $16.09 million. bluebird bio had a negative return on equity of 322.46% and a negative net margin of 565.74%. Research analysts predict that bluebird bio will post -1.35 EPS for the current year.

Hedge Funds Weigh In On bluebird bio

A number of large investors have recently bought and sold shares of BLUE. Allegheny Financial Group LTD bought a new stake in shares of bluebird bio in the second quarter worth $25,000. Verition Fund Management LLC bought a new stake in bluebird bio during the 3rd quarter worth about $42,000. SG Americas Securities LLC boosted its stake in shares of bluebird bio by 152.4% during the 3rd quarter. SG Americas Securities LLC now owns 122,855 shares of the biotechnology company’s stock worth $64,000 after buying an additional 74,185 shares during the last quarter. Captrust Financial Advisors boosted its stake in shares of bluebird bio by 48.2% during the 3rd quarter. Captrust Financial Advisors now owns 237,648 shares of the biotechnology company’s stock worth $123,000 after buying an additional 77,293 shares during the last quarter. Finally, Barclays PLC grew its holdings in shares of bluebird bio by 273.7% in the 3rd quarter. Barclays PLC now owns 252,062 shares of the biotechnology company’s stock valued at $130,000 after acquiring an additional 184,605 shares in the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

About bluebird bio

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.