J.P. Morgan analyst Cory Kasimov assigned a Buy rating to Bluebird Bio (BLUE) yesterday. The company’s shares closed last Tuesday at $53.15.
According to TipRanks.com, Kasimov is a 5-star analyst with an average return of 22.5% and a 57.4% success rate. Kasimov covers the Healthcare sector, focusing on stocks such as Ultragenyx Pharmaceutical, Alexion Pharmaceuticals, and BioMarin Pharmaceutical.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Bluebird Bio with a $75.93 average price target, which is a 49.9% upside from current levels. In a report released yesterday, William Blair also maintained a Buy rating on the stock.
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Based on Bluebird Bio’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $19.27 million and GAAP net loss of $195 million. In comparison, last year the company earned revenue of $8.91 million and had a GAAP net loss of $206 million.
Based on the recent corporate insider activity of 82 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.
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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.