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bluebird bio (BLUE) Looks Good: Stock Adds 11% in Session
September 01, 2017

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bluebird bio, Inc. (BLUE - Free Report) was a big mover last session, as the company saw its shares rise nearly 11% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This continues the recent uptrend for the company—as the stock is now up 40% in the past one-month time frame.

The stock gained after some analysts raised the target price of the company. The upgrade was based on increased chances of obtaining approval for bluebird bio’s CAR-T bb2121, a cancer treatment drug, because of Kymriah’s recent approval from FDA. 

The company has seen five negative estimate revisions in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past few weeks, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.

bluebird bio currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.

Investors interested in the Medical - Biomedical and Genetics may consider a better-ranked stock like Vanda Pharmaceuticals Inc. (VNDA - Free Report) , which carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Is BLUE going up? Or down? Predict to see what others think: Up or Down

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