bluebird bio, Inc. (NASDAQ:BLUE) Receives Consensus Recommendation of “Hold” from Brokerages

bluebird bio, Inc. (NASDAQ:BLUE) has been given a consensus recommendation of “Hold” by the eight research firms that are covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $44.60.

Several research firms have issued reports on BLUE. Barclays cut their price target on shares of bluebird bio from $40.00 to $8.00 and set an “overweight” rating for the company in a research report on Monday, March 31st. Wall Street Zen assumed coverage on shares of bluebird bio in a research note on Thursday, May 15th. They set a “sell” rating for the company.

Hedge Funds Weigh In On bluebird bio

Hedge funds and other institutional investors have recently modified their holdings of the company. Regeneron Pharmaceuticals Inc. bought a new position in bluebird bio in the fourth quarter worth about $175,000. Bank of New York Mellon Corp raised its stake in bluebird bio by 12.7% in the first quarter. Bank of New York Mellon Corp now owns 32,759 shares of the biotechnology company’s stock worth $160,000 after buying an additional 3,686 shares in the last quarter. Groupe la Francaise bought a new position in bluebird bio in the first quarter worth about $679,000. Murchinson Ltd. bought a new position in bluebird bio in the first quarter worth about $254,000. Finally, Goldman Sachs Group Inc. raised its stake in bluebird bio by 4.7% in the first quarter. Goldman Sachs Group Inc. now owns 64,950 shares of the biotechnology company’s stock worth $317,000 after buying an additional 2,932 shares in the last quarter. 87.43% of the stock is owned by institutional investors.

bluebird bio Stock Performance

NASDAQ BLUE opened at $4.97 on Friday. The company has a 50-day simple moving average of $4.69 and a two-hundred day simple moving average of $5.55. The company has a quick ratio of 0.33, a current ratio of 0.51 and a debt-to-equity ratio of 0.37. bluebird bio has a 12-month low of $3.20 and a 12-month high of $28.60. The firm has a market cap of $48.67 million, a price-to-earnings ratio of -0.13 and a beta of 0.27.

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.