William Blair analyst Raju Prasad maintained a Buy rating on Bluebird Bio (BLUE) today. The company’s shares opened today at $123.61.
Prasad noted:
“We continue to view the potential benefits of β0 TDT population favorably ahead of its anticipated launch, but believe it will be measured given the new modality . We note that today’s weakness is likely due to the delay in launch timing from previous consensus estimates.”
According to TipRanks.com, Prasad is a 5-star analyst with an average return of 19.1% and a 55.8% success rate. Prasad covers the Healthcare sector, focusing on stocks such as Rocket Pharmaceuticals Inc, Global Blood Therapeutics, and Allogene Therapeutics Inc.
Currently, the analyst consensus on Bluebird Bio is a Moderate Buy with an average price target of $163, which is a 31.9% upside from current levels. In a report released yesterday, J.P. Morgan also maintained a Buy rating on the stock with a $195 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 $164 million. In comparison, last year the company had a GAAP net loss of $115 million.
Based on the recent corporate insider activity of 85 insiders, corporate insider sentiment is neutral on the stock. Last month, Jason Cole, the Chief Operating and of BLUE bought 562 shares for a total of $28,387.
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, which engages in the development of potential gene therapies for severe genetic diseases and cancer. Its integrated product platform includes gene therapy, cancer immunotherapy, and gene editing. Its product pipeline includes Lenti-D, LentiGlobin, BCL11a shRNA, bb2121, and bb21217.
