Wells Fargo Reaffirms Their Buy Rating on Bluebird Bio (BLUE)

By Ryan Adsit

Wells Fargo analyst Jim Birchenough maintained a Buy rating on Bluebird Bio (BLUEResearch Report) today. The company’s shares closed last Monday at $45.74, close to its 52-week low of $38.95.

According to TipRanks.com, Birchenough is a 5-star analyst with an average return of 16.7% and a 44.9% success rate. Birchenough covers the Healthcare sector, focusing on stocks such as Iovance Biotherapeutics, Kezar Life Sciences, and Principia Biopharma.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Bluebird Bio with a $120.25 average price target.

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Based on Bluebird Bio’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $10 million and GAAP net loss of $223 million. In comparison, last year the company earned revenue of $19.24 million and had a GAAP net loss of $149 million.

Based on the recent corporate insider activity of 52 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.