bluebird bio, Inc. Forecasted to Earn FY2017 Earnings of ($6.52) Per Share (NASDAQ:BLUE)
bluebird bio, Inc. (NASDAQ:BLUE) – Equities researchers at Cantor Fitzgerald increased their FY2017 earnings estimates for bluebird bio in a research report issued on Monday. Cantor Fitzgerald analyst E. Piros now expects that the biotechnology company will earn ($6.52) per share for the year, up from their previous estimate of ($6.78). Cantor Fitzgerald has a “Sell” rating and a $39.00 price target on the stock. Cantor Fitzgerald also issued estimates for bluebird bio’s FY2018 earnings at ($6.64) EPS.
bluebird bio (NASDAQ:BLUE) last issued its earnings results on Wednesday, May 3rd. The biotechnology company reported ($1.68) EPS for the quarter, beating the consensus estimate of ($1.76) by $0.08. bluebird bio had a negative return on equity of 35.17% and a negative net margin of 2,402.03%. The business had revenue of $6.83 million for the quarter, compared to the consensus estimate of $1.51 million.
A number of other analysts also recently commented on the stock. Zacks Investment Research downgraded shares of bluebird bio from a “buy” rating to a “hold” rating in a report on Tuesday, July 18th. Morgan Stanley reiterated an “equal weight” rating and issued a $103.00 price objective (down previously from $105.00) on shares of bluebird bio in a report on Monday, July 10th. Jefferies Group LLC reiterated a “buy” rating on shares of bluebird bio in a report on Thursday, July 6th. BidaskClub downgraded shares of bluebird bio from a “strong-buy” rating to a “buy” rating in a report on Friday, June 30th. Finally, BTIG Research downgraded shares of bluebird bio from a “buy” rating to a “neutral” rating and increased their price objective for the company from $37.05 to $108.25 in a report on Friday, June 30th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the stock. bluebird bio currently has a consensus rating of “Buy” and a consensus target price of $100.02.
bluebird bio (NASDAQ BLUE) traded up 2.18% during trading on Wednesday, hitting $100.95. The stock had a trading volume of 121,796 shares. The company’s 50 day moving average is $104.49 and its 200 day moving average is $87.73. The firm’s market cap is $4.13 billion. bluebird bio has a 52-week low of $37.05 and a 52-week high of $123.75.
Institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. bought a new position in bluebird bio during the fourth quarter worth $1,477,000. FMR LLC boosted its position in bluebird bio by 0.6% in the first quarter. FMR LLC now owns 6,126,713 shares of the biotechnology company’s stock worth $556,918,000 after buying an additional 37,742 shares during the last quarter. Advisors Asset Management Inc. bought a new position in bluebird bio during the first quarter worth $858,000. Macquarie Group Ltd. bought a new position in bluebird bio during the fourth quarter worth $703,000. Finally, Alliancebernstein L.P. boosted its position in bluebird bio by 50.1% in the first quarter. Alliancebernstein L.P. now owns 85,860 shares of the biotechnology company’s stock worth $7,805,000 after buying an additional 28,640 shares during the last quarter.
In related news, insider David Davidson sold 1,000 shares of the stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $90.00, for a total transaction of $90,000.00. Following the completion of the transaction, the insider now owns 18,177 shares of the company’s stock, valued at approximately $1,635,930. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nick Leschly sold 25,000 shares of the stock in a transaction that occurred on Tuesday, June 27th. The stock was sold at an average price of $108.05, for a total transaction of $2,701,250.00. Following the transaction, the insider now directly owns 360,656 shares of the company’s stock, valued at approximately $38,968,880.80. The disclosure for this sale can be found here. Insiders have sold a total of 74,245 shares of company stock valued at $7,751,008 in the last ninety days. 3.90% of the stock is currently owned by corporate insiders.
About bluebird bio
bluebird bio, Inc is a clinical-stage biotechnology company. The Company is focused on developing gene therapies for severe diseases and cancer. With its lentiviral-based gene therapy and gene editing capabilities, it has built an integrated product platform with various applications in these areas. The Company’s clinical programs in severe genetic diseases include its LentiGlobin product candidate to treat transfusion-dependent b-thalassemia and to treat severe sickle cell disease (SCD) and its Lenti-D product candidate to treat cerebral adrenoleukodystrophy (CALD).
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