Bluebird Bio Receives a Buy from Cowen & Co.


Cowen & Co. analyst Eric Schmidt maintained a Buy rating on Bluebird Bio (NASDAQ: BLUE) today. The company’s shares closed on Friday at $182.40.

According to TipRanks.com, Schmidt is a top 25 analyst with an average return of 46.0% and a 64.2% success rate. Schmidt covers the Healthcare sector, focusing on stocks such as Merrimack Pharmaceuticals, Adaptimmune Therapeutics, and Alexion Pharmaceuticals.

Currently, the analyst consensus on Bluebird Bio is Moderate Buy and the average price target is $213.78, representing a 17.2% upside.

In a report issued on May 30, Piper Jaffray also initiated coverage with a Buy rating on the stock with a $240 price target.

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Based on Bluebird Bio’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $115 million. In comparison, last year the company had a GAAP net loss of $68.71 million.

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bluebird bio, Inc. is a clinical-stage biotechnology company. Its integrated product platform includes gene therapy, cancer immunotherapy, and gene editing. It offers the LentiGlobin which is a treatment for transfusion-dependent ß-thalassemia; and Lenti-D as a treatment for cerebral adrenoleukodystrophy.

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