Wedbush Analysts Lower Earnings Estimates for bluebird bio, Inc. (NASDAQ:BLUE)
bluebird bio, Inc. (NASDAQ:BLUE) – Equities researchers at Wedbush dropped their Q3 2017 EPS estimates for shares of bluebird bio in a note issued to investors on Thursday. Wedbush analyst D. Nierengarten now expects that the biotechnology company will post earnings of ($1.78) per share for the quarter, down from their previous forecast of ($1.77). Wedbush has a “Outperform” rating and a $100.00 price target on the stock. Wedbush also issued estimates for bluebird bio’s FY2017 earnings at ($7.04) EPS, Q2 2018 earnings at ($1.81) EPS, Q3 2018 earnings at ($1.84) EPS, Q4 2018 earnings at ($1.87) EPS, FY2018 earnings at ($7.31) EPS, FY2019 earnings at ($7.60) EPS, FY2020 earnings at ($4.93) EPS and FY2021 earnings at $5.04 EPS.
A number of other research firms also recently weighed in on BLUE. BidaskClub raised shares of bluebird bio from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 23rd. Morgan Stanley reissued an “equal weight” rating and set a $105.00 target price (up previously from $91.00) on shares of bluebird bio in a research report on Wednesday, June 14th. Cowen and Company reissued a “buy” rating on shares of bluebird bio in a research report on Friday, June 23rd. Cantor Fitzgerald set a $39.00 target price on shares of bluebird bio and gave the company a “sell” rating in a research report on Saturday, June 24th. Finally, Janney Montgomery Scott set a $125.00 target price on shares of bluebird bio and gave the company a “buy” rating in a research report on Monday, June 26th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $100.54.
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bluebird bio (NASDAQ BLUE) opened at 95.05 on Monday. The company’s market cap is $4.33 billion. The company’s 50-day moving average is $102.86 and its 200 day moving average is $88.98. bluebird bio has a 1-year low of $37.05 and a 1-year high of $123.75.
bluebird bio (NASDAQ:BLUE) last released its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported ($1.73) earnings per share for the quarter, missing the consensus estimate of ($1.66) by $0.07. bluebird bio had a negative return on equity of 32.19% and a negative net margin of 1,080.59%. The firm had revenue of $16.70 million for the quarter, compared to the consensus estimate of $6.29 million. During the same period in the previous year, the business earned ($1.59) EPS. The firm’s revenue was up 977.4% compared to the same quarter last year.
Several institutional investors have recently modified their holdings of the company. FMR LLC boosted its position in shares of 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 in the last quarter. Advisors Asset Management Inc. purchased a new position in shares of bluebird bio during the first quarter worth about $858,000. Macquarie Group Ltd. purchased a new position in shares of bluebird bio during the fourth quarter worth about $703,000. Winfield Associates Inc. boosted its position in shares of bluebird bio by 6.1% in the second quarter. Winfield Associates Inc. now owns 2,822 shares of the biotechnology company’s stock worth $296,000 after buying an additional 162 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its position in shares of 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 in the last quarter.
In related news, Director Daniel Lynch sold 2,000 shares of the stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $80.00, for a total value of $160,000.00. Following the transaction, the director now directly owns 3,400 shares in the company, valued at approximately $272,000. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Philip D. Gregory sold 1,500 shares of the stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $99.04, for a total value of $148,560.00. Following the completion of the transaction, the insider now owns 37,279 shares in the company, valued at $3,692,112.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 76,245 shares of company stock worth $7,938,108. 3.90% of the stock is owned by company 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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