Cantor Fitzgerald Reiterates “$113.00” Price Target for bluebird bio (BLUE)

bluebird bio (NASDAQ:BLUE) has been assigned a $113.00 price target by equities research analysts at Cantor Fitzgerald in a research note issued to investors on Monday, MarketBeat.com reports. The firm currently has an “underweight” rating on the biotechnology company’s stock. Cantor Fitzgerald’s target price indicates a potential downside of 33.98% from the stock’s current price.

The analysts wrote, “Renewed Confidence in SCD. We believe the longer-term HbA T87Q response of 6.4g/dL and 3.0g/dL achieved in Group B patients validates the improved process’ potential to address SCD. While long-term questions remain, especially as they pertain to sourcing of the drug product from peripheral blood, the updated clinical data lift a key uncertainty on the ability to achieve sufficient vector copy number (VCN) in peripheral blood translating into adequate healthy hemoglobin production, Additionally, the first Group C patient treated with an improved drug product and optimized cell source has demonstrated initial 1-month peripheral VCN of 2.5 copies/diploid, resembling results of the better performing Group B patient.””

A number of other research analysts also recently commented on BLUE. Evercore ISI started coverage on shares of bluebird bio in a research report on Wednesday, August 16th. They issued an “in-line” rating and a $102.00 target price on the stock. Cowen reaffirmed an “outperform” rating on shares of bluebird bio in a research report on Thursday, August 31st. Wedbush reaffirmed an “outperform” rating and issued a $135.00 target price (up from $121.00) on shares of bluebird bio in a research report on Friday, September 1st. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $158.00 target price (up from $134.00) on shares of bluebird bio in a research report on Tuesday, September 5th. Finally, Barclays started coverage on shares of bluebird bio in a research report on Wednesday, September 6th. They issued an “overweight” rating and a $151.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $150.00.

bluebird bio (NASDAQ:BLUE) opened at $171.15 on Monday. bluebird bio has a 52-week low of $60.95 and a 52-week high of $174.78.

bluebird bio (NASDAQ:BLUE) last posted its earnings results on Wednesday, November 1st. The biotechnology company reported ($1.73) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.68) by ($0.05). The company had revenue of $7.71 million during the quarter, compared to analysts’ expectations of $8.47 million. bluebird bio had a negative net margin of 883.18% and a negative return on equity of 28.79%. The company’s quarterly revenue was up 397.4% on a year-over-year basis. During the same period last year, the business earned ($2.07) earnings per share. sell-side analysts forecast that bluebird bio will post -6.68 earnings per share for the current fiscal year.

In other news, Director Mark Vachon sold 6,000 shares of bluebird bio stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $126.82, for a total value of $760,920.00. Following the sale, the director now owns 8,000 shares of the company’s stock, valued at $1,014,560. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Nick Leschly sold 10,823 shares of bluebird bio stock in a transaction dated Tuesday, October 17th. The shares were sold at an average price of $145.05, for a total transaction of $1,569,876.15. Following the completion of the sale, the chief executive officer now directly owns 262,409 shares in the company, valued at approximately $38,062,425.45. The disclosure for this sale can be found here. Insiders have sold a total of 105,550 shares of company stock worth $15,174,296 over the last three months. 3.90% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of BLUE. Dimensional Fund Advisors LP boosted its holdings in shares of bluebird bio by 24.5% in the first quarter. Dimensional Fund Advisors LP now owns 84,961 shares of the biotechnology company’s stock valued at $7,723,000 after acquiring an additional 16,741 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of bluebird bio by 118.9% in the second quarter. Bank of Montreal Can now owns 1,677 shares of the biotechnology company’s stock valued at $176,000 after purchasing an additional 911 shares during the period. Aperio Group LLC lifted its stake in shares of bluebird bio by 10.9% in the second quarter. Aperio Group LLC now owns 5,001 shares of the biotechnology company’s stock valued at $525,000 after purchasing an additional 491 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of bluebird bio by 15.0% in the second quarter. Russell Investments Group Ltd. now owns 38,882 shares of the biotechnology company’s stock valued at $4,084,000 after purchasing an additional 5,059 shares during the period. Finally, Strs Ohio lifted its stake in shares of bluebird bio by 25.4% in the second quarter. Strs Ohio now owns 7,400 shares of the biotechnology company’s stock valued at $777,000 after purchasing an additional 1,500 shares during the period.

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bluebird bio Company Profile

bluebird bio, Inc is a clinical-stage biotechnology company. The Company is focused on developing gene therapies for severe diseases and cancer. With its lentiviral-based gene therapy and gene editing capabilities, it has built an integrated product platform with various applications in these areas. The Company’s clinical programs in severe genetic diseases include its LentiGlobin product candidate to treat transfusion-dependent b-thalassemia and to treat severe sickle cell disease (SCD) and its Lenti-D product candidate to treat cerebral adrenoleukodystrophy (CALD).

Analyst Recommendations for bluebird bio (NASDAQ:BLUE)

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