bluebird bio (NASDAQ:BLUE) Price Target Lowered to $2.00 at Barclays

bluebird bio (NASDAQ:BLUE) had its price objective lowered by investment analysts at Barclays from $4.00 to $2.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the biotechnology company’s stock.

Several other analysts also recently issued reports on the company. Wells Fargo & Company cut their price objective on bluebird bio from $3.00 to $2.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 25th. StockNews.com started coverage on shares of bluebird bio in a research note on Sunday, November 10th. They issued a “sell” rating for the company. Bank of America downgraded shares of bluebird bio from a “buy” rating to a “neutral” rating and cut their target price for the company from $3.00 to $0.50 in a research note on Friday. Robert W. Baird decreased their target price on bluebird bio from $7.00 to $6.00 and set an “outperform” rating for the company in a research report on Thursday, August 15th. Finally, JPMorgan Chase & Co. lowered bluebird bio from a “neutral” rating to an “underweight” rating in a research report on Friday. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $3.03.

bluebird bio Price Performance

BLUE stock traded down $0.03 on Friday, hitting $0.33. 1,388,379 shares of the company’s stock traded hands, compared to its average volume of 7,404,177. The stock has a market cap of $64.36 million, a price-to-earnings ratio of -0.15 and a beta of 0.76. bluebird bio has a 1-year low of $0.33 and a 1-year high of $5.53. The company has a current ratio of 0.68, a quick ratio of 0.57 and a debt-to-equity ratio of 0.37. The stock has a fifty day moving average of $0.49 and a 200-day moving average of $0.79.

bluebird bio (NASDAQ:BLUE) last released its quarterly earnings data on Friday, September 13th. The biotechnology company reported ($0.36) earnings per share for the quarter. The company had revenue of $18.57 million for the quarter. bluebird bio had a negative return on equity of 207.25% and a negative net margin of 567.29%. On average, analysts forecast that bluebird bio will post -1.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Allegheny Financial Group LTD purchased a new stake in shares of bluebird bio during the 2nd quarter worth about $25,000. Price T Rowe Associates Inc. MD raised its position in bluebird bio by 113.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 54,714 shares of the biotechnology company’s stock valued at $71,000 after acquiring an additional 29,113 shares in the last quarter. Bayesian Capital Management LP acquired a new stake in bluebird bio in the first quarter valued at approximately $52,000. American International Group Inc. grew its position in bluebird bio by 77.4% in the first 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. Finally, Rhumbline Advisers increased its stake in shares of bluebird bio by 25.4% during the 2nd quarter. Rhumbline Advisers now owns 292,436 shares of the biotechnology company’s stock worth $288,000 after purchasing an additional 59,219 shares during the last quarter. Hedge funds and other institutional investors 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.