Cowen & Co. Reiterates Their Buy Rating on Bluebird Bio

Cowen & Co. analyst Eric Schmidt reiterated a Buy rating on Bluebird Bio (NASDAQ: BLUE) today. The company’s shares opened today at $88.25.

According to TipRanks.com, Schmidt is a top 100 analyst with an average return of 27.3% and a 57.0% success rate. Schmidt covers the Healthcare sector, focusing on stocks such as Ionis Pharmaceuticals Inc, Merrimack Pharmaceuticals, and Threshold Pharmaceuticals.

Bluebird Bio has an analyst consensus of Moderate Buy, with a price target consensus of $86.29.

Based on Bluebird Bio’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $6.83 million and GAAP net loss of $68.71 million. In comparison, last year the company earned revenue of $1.5 million and had a GAAP net loss of $56.27 million.

Based on the recent corporate insider activity of 67 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of BLUE in relation to earlier this year. Last month, Jason Cole, the SVP, Secy. & General Counsel of BLUE bought 3,750 shares for a total of $84,488.

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. 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.

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