bluebird bio (NASDAQ:BLUE) Stock Rating Lowered by William Blair

William Blair cut shares of bluebird bio (NASDAQ:BLUE) from an outperform rating to a market perform rating in a research report released on Monday morning, 24/7 WallStreet reports. William Blair also issued estimates for bluebird bio’s Q3 2019 earnings at ($2.96) EPS, Q4 2019 earnings at ($2.94) EPS, FY2019 earnings at ($12.43) EPS, Q1 2020 earnings at ($2.99) EPS, Q2 2020 earnings at ($3.15) EPS, Q3 2020 earnings at ($3.33) EPS, Q4 2020 earnings at ($3.42) EPS, FY2020 earnings at ($12.90) EPS, FY2021 earnings at ($15.02) EPS, FY2022 earnings at ($10.97) EPS and FY2023 earnings at ($5.70) EPS.

A number of other analysts also recently weighed in on the stock. ValuEngine raised shares of bluebird bio from a buy rating to a strong-buy rating in a research report on Thursday, August 1st. Maxim Group raised shares of bluebird bio from a hold rating to a buy rating and set a $160.00 price target for the company in a research report on Tuesday, June 18th. BidaskClub downgraded shares of bluebird bio from a hold rating to a sell rating in a research report on Friday, August 2nd. BMO Capital Markets decreased their price target on shares of bluebird bio from $191.00 to $163.00 and set an outperform rating for the company in a research report on Monday, June 17th. Finally, SunTrust Banks decreased their price target on shares of bluebird bio to $174.00 and set a buy rating for the company in a research report on Thursday, May 16th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. bluebird bio presently has a consensus rating of Buy and a consensus price target of $154.13.

BLUE opened at $116.99 on Monday. The firm’s 50 day moving average is $130.03 and its 200-day moving average is $135.90. bluebird bio has a 52-week low of $87.49 and a 52-week high of $176.55. The company has a current ratio of 8.02, a quick ratio of 8.02 and a debt-to-equity ratio of 0.11.

bluebird bio (NASDAQ:BLUE) last posted its quarterly earnings data on Thursday, August 1st. The biotechnology company reported ($3.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($3.04) by ($0.51). bluebird bio had a negative net margin of 1,158.04% and a negative return on equity of 35.90%. The firm had revenue of $13.30 million for the quarter, compared to analysts’ expectations of $13.13 million. During the same quarter in the prior year, the business earned ($2.91) EPS. The company’s revenue for the quarter was up 68.4% on a year-over-year basis. On average, sell-side analysts anticipate that bluebird bio will post -13.22 EPS for the current year.

In other bluebird bio news, insider David Davidson sold 7,660 shares of bluebird bio stock in a transaction on Friday, July 5th. The shares were sold at an average price of $129.47, for a total value of $991,740.20. Following the completion of the transaction, the insider now owns 38,946 shares of the company’s stock, valued at $5,042,338.62. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jeffrey T. Walsh sold 1,400 shares of bluebird bio stock in a transaction on Monday, June 10th. The stock was sold at an average price of $125.44, for a total transaction of $175,616.00. Following the completion of the transaction, the insider now directly owns 42,321 shares of the company’s stock, valued at approximately $5,308,746.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,760 shares of company stock valued at $1,628,667. 3.00% of the stock is currently owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Nuveen Asset Management LLC bought a new stake in shares of bluebird bio during the second quarter valued at about $53,104,000. OneAscent Financial Services LLC bought a new stake in shares of bluebird bio during the second quarter valued at about $265,000. Victory Capital Management Inc. raised its stake in shares of bluebird bio by 29.5% during the second quarter. Victory Capital Management Inc. now owns 752,300 shares of the biotechnology company’s stock valued at $95,693,000 after purchasing an additional 171,555 shares in the last quarter. CSat Investment Advisory L.P. bought a new stake in shares of bluebird bio during the second quarter valued at about $31,000. Finally, First Light Asset Management LLC raised its stake in shares of bluebird bio by 0.5% during the second quarter. First Light Asset Management LLC now owns 18,840 shares of the biotechnology company’s stock valued at $2,396,000 after purchasing an additional 103 shares in the last quarter.

About bluebird bio

bluebird bio, Inc, a clinical-stage biotechnology company, focuses on developing transformative gene therapies for severe genetic diseases and cancer. Its product candidates in severe genetic diseases include LentiGlobin, which is in various clinical studies for the treatment of transfusion-dependent ß-thalassemia and severe sickle cell disease; and Lenti-D that is in Phase II/III clinical trials for the treatment of cerebral adrenoleukodystrophy, a rare hereditary neurological disorder.

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Analyst Recommendations for bluebird bio (NASDAQ:BLUE)

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