Canaccord Genuity analyst John Newman maintained a Buy rating on Bluebird Bio (BLUE) yesterday and set a price target of $118.00. The company’s shares closed last Monday at $80.45, close to its 52-week low of $71.42.
According to TipRanks.com, Newman is a 5-star analyst with an average return of 14.3% and a 44.4% success rate. Newman covers the Healthcare sector, focusing on stocks such as Hutchison China MediTech, Atara Biotherapeutics, and Palatin Technologies.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Bluebird Bio with a $118.40 average price target, which is a 38.5% upside from current levels. In a report released yesterday, Cowen & Co. also maintained a Buy rating on the stock.
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Based on Bluebird Bio’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $223 million. In comparison, last year the company had a GAAP net loss of $149 million.
Based on the recent corporate insider activity of 52 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.
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