bluebird bio (NASDAQ:BLUE) Now Covered by StockNews.com

Equities researchers at StockNews.com initiated coverage on shares of bluebird bio (NASDAQ:BLUE) in a research report issued to clients and investors on Tuesday. The brokerage set a “sell” rating on the biotechnology company’s stock.

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

bluebird bio Price Performance

Shares of BLUE opened at $0.36 on Tuesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.51 and a quick ratio of 0.33. The company’s fifty day moving average price is $0.46 and its 200-day moving average price is $0.76. bluebird bio has a 1-year low of $0.29 and a 1-year high of $5.53. The firm has a market capitalization of $70.33 million, a PE ratio of -0.19 and a beta of 0.76.

bluebird bio (NASDAQ:BLUE) last posted its quarterly earnings results on Friday, September 13th. The biotechnology company reported ($0.36) earnings per share for the quarter. bluebird bio had a negative net margin of 565.74% and a negative return on equity of 322.46%. The firm had revenue of $18.57 million for the quarter. On average, equities 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. Vanguard Group Inc. raised its stake in shares of bluebird bio by 19.6% during the 1st quarter. Vanguard Group Inc. now owns 10,498,460 shares of the biotechnology company’s stock worth $13,438,000 after buying an additional 1,723,081 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in bluebird bio by 113.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 54,714 shares of the biotechnology company’s stock worth $71,000 after acquiring an additional 29,113 shares in the last quarter. American International Group Inc. increased its holdings in bluebird bio by 77.4% in the 1st quarter. American International Group Inc. now owns 94,371 shares of the biotechnology company’s stock worth $121,000 after acquiring an additional 41,177 shares in the last quarter. AQR Capital Management LLC raised its position in bluebird bio by 315.3% during the second quarter. AQR Capital Management LLC now owns 1,334,519 shares of the biotechnology company’s stock worth $1,223,000 after acquiring an additional 1,013,144 shares during the period. Finally, Bayesian Capital Management LP purchased a new position in bluebird bio during the first quarter valued at $52,000. 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.