Bluebird Bio (BLUE) Receives a Buy from Leerink Partners

By Carrie Williams

In a report issued on June 7, Mani Foroohar from Leerink Partners initiated coverage with a Buy rating on Bluebird Bio (BLUEResearch Report). The company’s shares closed last Wednesday at $32.97.

According to TipRanks.com, Foroohar has 0 stars on 0-5 stars ranking scale with an average return of -3.9% and a 54.5% success rate. Foroohar covers the Healthcare sector, focusing on stocks such as Talaris Therapeutics, Inc., Arrowhead Pharmaceuticals, and Recursion Pharmaceuticals.

Currently, the analyst consensus on Bluebird Bio is a Moderate Buy with an average price target of $44.11, representing a 34.5% upside. In a report issued on June 7, Canaccord Genuity also maintained a Buy rating on the stock with a $86.00 price target.

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Based on Bluebird Bio’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $12.79 million and GAAP net loss of $206 million. In comparison, last year the company earned revenue of $21.86 million and had a GAAP net loss of $203 million.

Based on the recent corporate insider activity of 93 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.

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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.