Bluebird Bio (BLUE) Received its Third Buy in a Row


After Canaccord Genuity and Mizuho Securities gave Bluebird Bio (NASDAQ: BLUE) a Buy rating last month, the company received another Buy, this time from William Blair. Analyst Raju Prasad upgraded Bluebird Bio to Buy today. The company’s shares closed last Friday at $51.71.

According to TipRanks.com, Prasad is a 5-star analyst with an average return of 11.2% and a 52.3% success rate. Prasad covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Alexion Pharmaceuticals, and Rocket Pharmaceuticals.

Currently, the analyst consensus on Bluebird Bio is a Strong Buy with an average price target of $102.10, representing a 93.3% upside. In a report issued on October 19, Mizuho Securities also initiated coverage with a Buy rating on the stock with a $123.00 price target.

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Based on Bluebird Bio’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $199 million and GAAP net loss of $21.47 million. In comparison, last year the company earned revenue of $13.3 million and had a GAAP net loss of $196 million.

Based on the recent corporate insider activity of 74 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BLUE in relation to earlier this year.

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. The company was founded by Philippe Leboulch and Ronald C. Dorazio on April 16, 1992 and is headquartered in Cambridge, MA.

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