Leerink Partners Reaffirms Their Buy Rating on Bluebird Bio (BLUE)

By Carrie Williams

In a report issued on July 28, Mani Foroohar from Leerink Partners maintained a Buy rating on Bluebird Bio (BLUEResearch Report). The company’s shares closed last Friday at $25.41, close to its 52-week low of $24.24.

According to TipRanks.com, Foroohar has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -12.3% and a 39.3% success rate. Foroohar covers the Healthcare sector, focusing on stocks such as Arrowhead Pharmaceuticals, Recursion Pharmaceuticals, and Adverum Biotechnologies.

Bluebird Bio has an analyst consensus of Moderate Buy, with a price target consensus of $50.86, which is a 99.0% upside from current levels. In a report issued on July 21, Mizuho Securities also maintained a Buy rating on the stock with a $70.00 price target.

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Bluebird Bio’s market cap is currently $1.71B and has a P/E ratio of -2.70. The company has a Price to Book ratio of 1.46.

Based on the recent corporate insider activity of 86 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.