William Blair Sticks to Their Hold Rating for Bluebird Bio (BLUE)

By Jason Carr

William Blair analyst Raju Prasad maintained a Hold rating on Bluebird Bio (BLUEResearch Report) today. The company’s shares closed last Friday at $56.75.

According to TipRanks.com, Prasad is a 5-star analyst with an average return of 15.6% and a 58.1% success rate. Prasad covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Alexion Pharmaceuticals, and Rocket Pharmaceuticals.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Bluebird Bio with a $105.08 average 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 $21.86 million and GAAP net loss of $203 million. In comparison, last year the company earned revenue of $13.3 million and had a GAAP net loss of $196 million.

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.

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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.