Morgan Stanley Analysts Give bluebird bio (NASDAQ:BLUE) a $100.00 Price Target

Morgan Stanley set a $100.00 price objective on bluebird bio (NASDAQ:BLUE) in a report issued on Friday morning, Stock Target Advisor reports. The firm currently has a hold rating on the biotechnology company’s stock.

BLUE has been the subject of several other reports. ValuEngine upgraded shares of bluebird bio from a buy rating to a strong-buy rating in a report on Friday. William Blair restated a hold rating on shares of bluebird bio in a report on Wednesday, September 18th. Maxim Group restated a buy rating and set a $130.00 target price on shares of bluebird bio in a report on Friday. Stifel Nicolaus restated a hold rating on shares of bluebird bio in a report on Wednesday, October 9th. Finally, BidaskClub upgraded shares of bluebird bio from a strong sell rating to a sell rating in a report on Tuesday, September 17th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $143.74.

Shares of BLUE opened at $82.82 on Friday. The company has a 50-day simple moving average of $91.36 and a 200-day simple moving average of $116.16. The company has a quick ratio of 8.02, a current ratio of 8.02 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $4.48 billion, a PE ratio of -7.75 and a beta of 2.18. bluebird bio has a 52-week low of $79.91 and a 52-week high of $163.43.

bluebird bio (NASDAQ:BLUE) last posted its earnings results on Thursday, October 31st. The biotechnology company reported ($3.73) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($3.54) by ($0.19). bluebird bio had a negative net margin of 1,326.56% and a negative return on equity of 40.54%. The business had revenue of $8.91 million for the quarter, compared to analysts’ expectations of $12.47 million. During the same quarter last year, the business posted ($2.73) earnings per share. The business’s revenue was down 22.7% compared to the same quarter last year. On average, research analysts anticipate that bluebird bio will post -13.52 EPS for the current year.

In other bluebird bio news, insider David Davidson sold 2,060 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $100.16, for a total transaction of $206,329.60. Following the sale, the insider now directly owns 34,616 shares of the company’s stock, valued at approximately $3,467,138.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Philip D. Gregory sold 950 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $124.03, for a total transaction of $117,828.50. Following the sale, the insider now directly owns 31,042 shares in the company, valued at $3,850,139.26. The disclosure for this sale can be found here. Insiders have sold a total of 4,610 shares of company stock worth $494,446 over the last ninety days. 3.00% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the business. Invesco Ltd. boosted its stake in shares of bluebird bio by 898.6% during the 2nd quarter. Invesco Ltd. now owns 1,053,942 shares of the biotechnology company’s stock worth $134,061,000 after purchasing an additional 948,400 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of bluebird bio by 10.3% during the 2nd quarter. First Trust Advisors LP now owns 842,121 shares of the biotechnology company’s stock worth $107,118,000 after purchasing an additional 78,813 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of bluebird bio by 29.5% during the 2nd quarter. Victory Capital Management Inc. now owns 752,300 shares of the biotechnology company’s stock worth $95,693,000 after purchasing an additional 171,555 shares during the last quarter. Nuveen Asset Management LLC acquired a new stake in shares of bluebird bio during the 2nd quarter worth about $53,104,000. Finally, Fiera Capital Corp boosted its position in shares of bluebird bio by 2.1% in the second quarter. Fiera Capital Corp now owns 345,669 shares of the biotechnology company’s stock worth $43,969,000 after acquiring an additional 6,951 shares during the last quarter.

About bluebird bio

bluebird bio, Inc, a clinical-stage biotechnology company, focuses on developing transformative gene therapies for severe genetic diseases and cancer. Its product candidates in severe genetic diseases include LentiGlobin, which is in various clinical studies for the treatment of transfusion-dependent ß-thalassemia and severe sickle cell disease; and Lenti-D that is in Phase II/III clinical trials for the treatment of cerebral adrenoleukodystrophy, a rare hereditary neurological disorder.

Further Reading: Equal Weight Rating

Analyst Recommendations for bluebird bio (NASDAQ:BLUE)

Receive News & Ratings for bluebird bio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for bluebird bio and related companies with MarketBeat.com's FREE daily email newsletter.