bluebird bio (NASDAQ:BLUE) Downgraded to “Neutral” Rating by Bank of America

bluebird bio (NASDAQ:BLUE) was downgraded by equities research analysts at Bank of America from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Friday,Briefing.com Automated Import reports. They presently have a $0.50 target price on the biotechnology company’s stock, down from their prior target price of $3.00. Bank of America‘s price objective suggests a potential upside of 37.89% from the company’s previous close.

A number of other equities analysts also recently issued reports on the company. StockNews.com began coverage on bluebird bio in a research report on Sunday, November 10th. They set a “sell” rating on the stock. Barclays dropped their target price on shares of bluebird bio from $8.00 to $4.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. Wells Fargo & Company lowered their price target on shares of bluebird bio from $3.00 to $2.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 25th. Cantor Fitzgerald reiterated a “neutral” rating on shares of bluebird bio in a research note on Monday, September 16th. Finally, JPMorgan Chase & Co. downgraded shares of bluebird bio from an “overweight” rating to a “neutral” rating in a research note on Thursday, August 15th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, bluebird bio has a consensus rating of “Hold” and a consensus target price of $3.28.

bluebird bio Trading Down 3.6 %

Shares of BLUE opened at $0.36 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.68 and a quick ratio of 0.57. The firm has a market capitalization of $70.31 million, a price-to-earnings ratio of -0.16 and a beta of 0.76. The company has a 50-day moving average of $0.49 and a 200 day moving average of $0.79. bluebird bio has a 1-year low of $0.34 and a 1-year high of $5.53.

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 567.29% and a negative return on equity of 207.25%. The company had revenue of $18.57 million for the quarter. On average, research analysts expect that bluebird bio will post -1.41 EPS for the current year.

Institutional Investors Weigh In On bluebird bio

A number of large investors have recently modified their holdings of BLUE. Mirae Asset Global Investments Co. Ltd. grew its position in bluebird bio by 38.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 325,111 shares of the biotechnology company’s stock worth $416,000 after purchasing an additional 90,139 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of bluebird bio by 458.8% during the first quarter. SG Americas Securities LLC now owns 80,032 shares of the biotechnology company’s stock valued at $102,000 after buying an additional 65,710 shares during the last quarter. Vanguard Group Inc. increased its position in shares of bluebird bio by 19.6% in the 1st quarter. Vanguard Group Inc. now owns 10,498,460 shares of the biotechnology company’s stock valued at $13,438,000 after acquiring an additional 1,723,081 shares during the period. American International Group Inc. increased its position in shares of bluebird bio by 77.4% in the 1st quarter. American International Group Inc. now owns 94,371 shares of the biotechnology company’s stock valued at $121,000 after acquiring an additional 41,177 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake 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 during the last quarter. Hedge funds and other institutional investors 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.