Barclays Boosts bluebird bio (NASDAQ:BLUE) Price Target to $40.00

bluebird bio (NASDAQ:BLUE) had its target price hoisted by Barclays from $2.00 to $40.00 in a report released on Tuesday,Benzinga reports. The firm currently has an overweight rating on the biotechnology company’s stock.

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

bluebird bio Price Performance

NASDAQ BLUE opened at $8.69 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 stock has a market capitalization of $84.48 million, a PE ratio of -4.65 and a beta of 0.72. bluebird bio has a 12-month low of $5.80 and a 12-month high of $38.40. The company has a 50 day moving average price of $8.23 and a two-hundred day moving average price of $13.00.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Bank of New York Mellon Corp increased its position in bluebird bio by 19.4% during the second quarter. Bank of New York Mellon Corp now owns 685,757 shares of the biotechnology company’s stock worth $675,000 after acquiring an additional 111,574 shares during the period. Rhumbline Advisers grew its position in bluebird bio by 25.4% in 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. Allegheny Financial Group LTD acquired a new stake in bluebird bio in the 2nd quarter worth $25,000. AQR Capital Management LLC increased 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 worth $1,223,000 after purchasing an additional 1,013,144 shares during the period. Finally, SG Americas Securities LLC raised its position in shares of bluebird bio by 152.4% during the third quarter. SG Americas Securities LLC now owns 122,855 shares of the biotechnology company’s stock valued at $64,000 after buying an additional 74,185 shares during the last quarter. 87.43% of the stock is currently owned by institutional investors and hedge funds.

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.