Oppenheimer Gives a Buy Rating to Bluebird Bio (BLUE)

In a report released today, Mark Breidenbach from Oppenheimer assigned a Buy rating to Bluebird Bio (BLUE), with a price target of $111.00. The company’s shares closed last Friday at $56.75.

According to TipRanks.com, Breidenbach is a 5-star analyst with an average return of 15.8% and a 45.4% success rate. Breidenbach covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Iovance Biotherapeutics, and Arvinas Holding Company.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Bluebird Bio with a $105.08 average price target, implying an 86.5% upside from current levels. In a report issued on August 17, Canaccord Genuity also maintained a Buy rating on the stock with a $118.00 price target.

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The company has a one-year high of $109.58 and a one-year low of $38.95. Currently, Bluebird Bio has an average volume of 884.5K.

Based on the recent corporate insider activity of 66 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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