Canaccord Genuity Maintains a Buy Rating on Bluebird Bio

By Ryan Adsit

In a report released today, John Newman from Canaccord Genuity maintained a Buy rating on Bluebird Bio (NASDAQ: BLUE), with a price target of $250. The company’s shares opened today at $223.35, close to its 52-week high of $236.17.

According to, Newman is a 5-star analyst with an average return of 17.5% and a 45.2% success rate. Newman covers the Healthcare sector, focusing on stocks such as Hutchison China MediTech Ltd, Synergy Pharmaceuticals Inc, and Rocket Pharmaceuticals Inc.

Currently, the analyst consensus on Bluebird Bio is Moderate Buy and the average price target is $210, representing a -6.0% downside.

In a report issued on March 5, William Blair also initiated coverage with a Buy rating on the stock with a $242 price target.

Based on Bluebird Bio’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $4.17 million and GAAP net loss of $117 million. In comparison, last year the company earned revenue of $1.55 million and had a GAAP net loss of $71.36 million.

Based on the recent corporate insider activity of 104 insiders, corporate insider sentiment is negative on the stock.

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bluebird bio, Inc. is a clinical-stage biotechnology company. Its integrated product platform includes gene therapy, cancer immunotherapy, and gene editing. The company was founded by Philippe Leboulch and Ronald C. Dorazio on April 16, 1992 and is headquartered in Cambridge, MA.