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Equities researchers at JPMorgan Chase & Co. started coverage on shares of bluebird bio (NASDAQ: BLUE) in a research report issued on Monday, TheFlyOnTheWall.com reports. The firm set an “overweight” rating and a $44.00 price target on the stock. JPMorgan Chase & Co.’s target price suggests a potential upside of 35.38% from the company’s current price.
The analysts wrote, “Catchy titles aside, bluebird bio is anything but “Old School.” Quite the contrary. In our view, BLUE – with its gene therapy platform – is one of the more potentially transformative and disruptive companies we’ve come across in some time. Importantly, however, this appears to be more than just a “big idea.” bluebird has already established promising proof-of-concept for its two lead products and is going after orphan indications with a very high unmet medical need that could bolster the ultimate probability of success.”
Separately, analysts at Bank of America Corp. initiated coverage on shares of bluebird bio in a research note to investors on Monday. They set a “buy” rating and a $42.00 price target on the stock.
Five investment analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and an average target price of $43.67.
Shares of bluebird bio (NASDAQ: BLUE) traded up 5.75% during mid-day trading on Monday, hitting $34.37. bluebird bio has a 52 week low of $24.00 and a 52 week high of $33.20. The stock’s 50-day moving average is currently $27.90. The company’s market cap is $784.0 million.
bluebird bio, Inc is a clinical-stage biotechnology company, the Company is focused on transforming the lives of patients with severe genetic and orphan diseases using gene therapy.Image may be NSFW.
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