In a report released today, Jason McCarthy from Maxim Group maintained a Hold rating on Bluebird Bio (BLUE). The company’s shares closed yesterday at $127.24.
McCarthy said:
“bluebird reported 4Q18 with $18.4M in revenue ($52M for FY18) and a net loss of $149M ($556M for FY18). Operating expenses continue to increase due to advancing clinical programs and commercial readiness activities. BLUE does have $1.9B in cash and runway into 2022, through the potential filing(s) and initial commercial launch of Lenti-D, LentiGlobin, and bb2121.”
According to TipRanks.com, McCarthy has currently no stars on a ranking scale of 0-5 stars, with an average return of -2.2% and a 32.5% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, Aridis Pharmaceuticals Inc, and Adial Pharmaceuticals Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Bluebird Bio with a $143.83 average price target, representing a 13.0% upside. In a report released yesterday, Cantor Fitzgerald also reiterated a Hold rating on the stock with a $122 price target.
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Based on Bluebird Bio’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $145 million. In comparison, last year the company had a GAAP net loss of $117 million.
Based on the recent corporate insider activity of 71 insiders, corporate insider sentiment is negative on the stock.
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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.
