Bluebird bio Inc [NASDAQ: BLUE] jumped around 0.09 points on Friday, while shares priced at $1.42 at the close of the session, up 6.77%. The company report on March 11, 2024 at 8:00 AM that bluebird bio Announces First Outcomes-Based Agreement with Medicaid for Sickle Cell Disease Gene Therapy.
bluebird bio, Inc. (NASDAQ: BLUE) (“bluebird bio”) today announced it has signed its first Medicaid outcomes-based agreement for LYFGENIA™ (lovotibeglogene autotemcel, also known as lovo-cel) with the state of Michigan. LYFGENIA is a one-time gene therapy approved for the treatment of patients 12 years of age and older with sickle cell disease and a history of vaso-occlusive events (VOEs). Approximately 50 percent of individuals living with sickle cell disease in the U.S. are insured by Medicaid.
“Our commercial approach is built on the principle that people with sickle cell disease insured through Medicaid deserve the same timely access to gene therapy as patients with other forms of insurance,” said Tom Klima, chief commercial & operating officer, bluebird bio. “We are extremely pleased to have reached this agreement with Michigan Medicaid and with the momentum behind our reimbursement negotiations across the board just months following approval, which underscores payers’ shared commitment to equitable access and understanding of the value that LYFGENIA can bring to people living with sickle cell disease, their caregivers, and the healthcare system.”.
Compared to the average trading volume of 13.01M shares, BLUE reached a trading volume of 29242981 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Bluebird bio Inc [BLUE]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BLUE shares is $4.56 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BLUE stock is a recommendation set at 2.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
HSBC Securities have made an estimate for Bluebird bio Inc shares, keeping their opinion on the stock as Reduce, with their previous recommendation back on December 11, 2023. While these analysts kept the previous recommendation, Morgan Stanley raised their target price from $3 to $7. The new note on the price target was released on December 08, 2023, representing the official price target for Bluebird bio Inc stock.
The Average True Range (ATR) for Bluebird bio Inc is set at 0.17, with the Price to Sales ratio for BLUE stock in the period of the last 12 months amounting to 12.60. The Price to Book ratio for the last quarter was 0.68, with the Price to Cash per share for the same quarter was set at 0.95.
How has BLUE stock performed recently?
Bluebird bio Inc [BLUE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.33. With this latest performance, BLUE shares gained by 38.54% in over the last four-week period, additionally sinking by -57.36% over the last 6 months – not to mention a drop of -69.46% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BLUE stock in for the last two-week period is set at 52.38, with the RSI for the last a single of trading hit 53.11, and the three-weeks RSI is set at 50.10 for Bluebird bio Inc [BLUE]. The present Moving Average for the last 50 days of trading for this stock 1.2608, while it was recorded at 1.3750 for the last single week of trading, and 2.7864 for the last 200 days.
Bluebird bio Inc [BLUE]: Deeper insight into the fundamentals
Bluebird bio Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.42 and a Current Ratio set at 1.55.
Earnings analysis for Bluebird bio Inc [BLUE]
With the latest financial reports released by the company, Bluebird bio Inc posted 0.38/share EPS, while the average EPS was predicted by analysts to be reported at -0.44/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 186.40%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BLUE. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Bluebird bio Inc go to 45.80%.
Insider trade positions for Bluebird bio Inc [BLUE]
The top three institutional holders of BLUE stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in BLUE stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in BLUE stock with ownership which is approximately 5.8325%.
