Maxim Group Remains a Hold on Bluebird Bio (BLUE)


In a report released today, Jason McCarthy from Maxim Group maintained a Hold rating on Bluebird Bio (NASDAQ: BLUE). The company’s shares opened today at $157.30.

McCarthy commented:

“bluebird announced a collaboration agreement with Regeneron Pharmaceuticals (REGN – NR). The 5-year collaboration includes a $100M stock purchase by 59% premium to Friday’s $150 closing price ($238.10 per share). The $37M premium is essentially an upfront payment since it will be credited against Regeneron’s initial share of development costs.”

According to TipRanks.com, McCarthy is a 4-star analyst with an average return of 10.5% and a 42.3% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, ContraVir Pharmaceuticals Inc, and Sonoma Pharmaceuticals Inc.

Bluebird Bio has an analyst consensus of Moderate Buy, with a price target consensus of $217.30, a 38.1% upside from current levels. In a report issued on August 2, Oppenheimer also assigned a Hold rating to the stock.

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Based on Bluebird Bio’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $146 million. In comparison, last year the company had a GAAP net loss of $70.9 million.

Based on the recent corporate insider activity of 81 insiders, corporate insider sentiment is negative on the stock.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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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