In a report issued on April 20, Mani Foroohar from Leerink Partners initiated coverage with a Buy rating on Bluebird Bio (BLUE). The company’s shares closed last Wednesday at $28.12, close to its 52-week low of $24.24.
According to TipRanks.com, Foroohar is currently ranked with 0 stars on a 0-5 stars ranking scale, with an average return of -4.3% and a 44.4% success rate. Foroohar covers the Healthcare sector, focusing on stocks such as Adverum Biotechnologies, Rocket Pharmaceuticals, and Intellia Therapeutics.
Bluebird Bio has an analyst consensus of Moderate Buy, with a price target consensus of $42.85, which is a 55.8% upside from current levels. In a report released yesterday, 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 $1.89B and has a P/E ratio of -2.80. The company has a Price to Book ratio of 1.41.
Based on the recent corporate insider activity of 100 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. Last month, 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.
