bluebird bio (NASDAQ:BLUE) Upgraded at Barclays

Barclays upgraded shares of bluebird bio (NASDAQ:BLUE – Get Rating) from an underweight rating to an equal weight rating in a research report released on Friday, Marketbeat reports. Barclays currently has $5.00 price target on the biotechnology company’s stock, up from their previous price target of $3.00.

A number of other equities research analysts also recently weighed in on BLUE. Morgan Stanley lowered their price target on bluebird bio to $3.00 and set an underweight rating on the stock in a research report on Tuesday, May 17th. Raymond James upgraded bluebird bio from a market perform rating to an outperform rating and set a $8.00 price target on the stock in a research report on Tuesday. Finally, Wedbush decreased their price objective on bluebird bio from $10.00 to $8.00 and set a neutral rating on the stock in a report on Tuesday, May 10th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, bluebird bio presently has a consensus rating of Hold and a consensus price target of $11.86.

bluebird bio Price Performance

NASDAQ:BLUE opened at $5.59 on Friday. bluebird bio has a 52-week low of $2.87 and a 52-week high of $26.00. The stock has a fifty day moving average of $4.22 and a 200 day moving average of $4.79.

bluebird bio (NASDAQ:BLUE – Get Rating) last posted its quarterly earnings data on Monday, May 9th. The biotechnology company reported ($1.66) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.26) by ($0.40). bluebird bio had a negative net margin of 2,141.34% and a negative return on equity of 109.30%. The business had revenue of $1.95 million for the quarter, compared to the consensus estimate of $0.17 million. During the same period in the prior year, the business posted ($3.07) EPS. bluebird bio’s quarterly revenue was up 117.6% on a year-over-year basis. Equities analysts predict that bluebird bio will post -5.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On bluebird bio

A number of institutional investors have recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. raised its holdings in bluebird bio by 81.2% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 94,875 shares of the biotechnology company’s stock worth $393,000 after purchasing an additional 42,503 shares in the last quarter. Monaco Asset Management SAM bought a new position in bluebird bio in the second quarter worth $1,267,000. SG Americas Securities LLC raised its holdings in bluebird bio by 133.1% in the second quarter. SG Americas Securities LLC now owns 28,253 shares of the biotechnology company’s stock worth $117,000 after purchasing an additional 16,130 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in bluebird bio by 45.4% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 313,207 shares of the biotechnology company’s stock worth $1,297,000 after purchasing an additional 97,827 shares in the last quarter. Finally, Parametrica Management Ltd bought a new position in bluebird bio in the second quarter worth $374,000. Institutional investors own 96.38% of the company’s stock.

About bluebird bio

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bluebird bio, Inc, a biotechnology company, researches, develops, and commercializes transformative gene therapies for severe genetic diseases. Its product candidates for severe genetic diseases include betibeglogene autotemcel for the treatment of transfusion-dependent ß-thalassemia; lovotibeglogene autotemcel for the treatment of sickle cell disease (SCD); and elivaldogene autotemcel to treat cerebral adrenoleukodystrophy.