bluebird bio (NASDAQ:BLUE) Stock Price Expected to Rise, Barclays Analyst Says

bluebird bio (NASDAQ:BLUE) had its price target lifted by research analysts at Barclays from $2.00 to $40.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the biotechnology company’s stock. Barclays‘s target price points to a potential upside of 379.62% from the company’s previous close.

Other research analysts have also issued reports about the stock. JPMorgan Chase & Co. lowered shares of bluebird bio from a “neutral” rating to an “underweight” rating in a report on Friday, November 15th. Royal Bank of Canada restated a “sector perform” rating and set a $80.00 target price on shares of bluebird bio in a research report on Friday, November 15th. Bank of America downgraded bluebird bio from a “buy” rating to a “neutral” rating and cut their price target for the company from $60.00 to $10.00 in a report on Friday, November 15th. StockNews.com began coverage on bluebird bio in a report on Friday, December 20th. They set a “sell” rating on the stock. Finally, Wells Fargo & Company dropped their target price on bluebird bio from $60.00 to $40.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 25th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $49.14.

bluebird bio Stock Up 6.1 %

Shares of NASDAQ:BLUE opened at $8.34 on Tuesday. The company has a quick ratio of 0.33, a current ratio of 0.51 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $81.08 million, a P/E ratio of -4.46 and a beta of 0.72. bluebird bio has a 52-week low of $5.80 and a 52-week high of $38.40. The stock’s fifty day simple moving average is $8.26 and its 200-day simple moving average is $13.03.

Hedge Funds Weigh In On bluebird bio

Several hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC increased its position in bluebird bio by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 4,683,042 shares of the biotechnology company’s stock worth $2,433,000 after purchasing an additional 166,771 shares in the last quarter. State Street Corp increased its position in shares of bluebird bio by 1.1% in the third quarter. State Street Corp now owns 3,841,923 shares of the biotechnology company’s stock worth $1,996,000 after acquiring an additional 43,382 shares in the last quarter. FMR LLC raised its stake in shares of bluebird bio by 8.1% in the 3rd quarter. FMR LLC now owns 2,481,965 shares of the biotechnology company’s stock valued at $1,289,000 after acquiring an additional 186,903 shares during the period. AQR Capital Management LLC lifted its holdings in shares of bluebird bio by 315.3% during the 2nd quarter. AQR Capital Management LLC now owns 1,334,519 shares of the biotechnology company’s stock valued at $1,223,000 after acquiring an additional 1,013,144 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in bluebird bio by 19.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 685,757 shares of the biotechnology company’s stock worth $675,000 after purchasing an additional 111,574 shares during the period. 87.43% of the stock is owned by institutional investors and hedge funds.

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.