In a report released yesterday, John Newman from Canaccord Genuity maintained a Buy rating on Bluebird Bio (BLUE), with a price target of $86.00. The company’s shares closed last Thursday at $29.67, close to its 52-week low of $24.24.
According to TipRanks.com, Newman is a 4-star analyst with an average return of 14.7% and a 42.7% success rate. Newman covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Hutchison China MediTech, and Allogene Therapeutics.
Currently, the analyst consensus on Bluebird Bio is a Moderate Buy with an average price target of $42.69, a 46.1% upside from current levels. In a report issued on April 22, Mizuho Securities also assigned a Buy rating to the stock with a $70.00 price target.
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Bluebird Bio’s market cap is currently $2B and has a P/E ratio of -2.90. The company has a Price to Book ratio of 1.48.
Based on the recent corporate insider activity of 97 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. Most recently, in March 2021, Nick Leschly, the President & CEO of BLUE bought 203,355 shares for a total of $1,118,453.
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.
