Wells Fargo analyst Yanan Zhu maintains $bluebird bio (BLUE.US)$ with a hold rating, and maintains the target price at $2.
According to TipRanks data, the analyst has a success rate of 33.7% and a total average return of 10.1% over the past year.
Furthermore, according to the comprehensive report, the opinions of $bluebird bio (BLUE.US)$'s main analysts recently are as follows:
The company reported a Q3 revenue miss attributed to the timing of infusions.
Following their Q3 report, Bluebird Bio missed on sales projections and notably diminished its cash reserves forecast into Q1 of 2025, previously expected to last until Q2 of 2025. Additionally, a recent proxy vote failed to muster enough support to authorize a reverse stock split and increased allocation for share issuance, effectively limiting the company's ability to pursue equity financing as a capital-raising strategy. This leaves limited options for the company to avoid jeopardizing its ongoing operations.
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
