Brokerages Anticipate bluebird bio, Inc. (BLUE) Will Post Earnings of -$1.63 Per Share
Wall Street analysts expect bluebird bio, Inc. (NASDAQ:BLUE) to announce earnings per share (EPS) of ($1.63) for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for bluebird bio’s earnings, with the lowest EPS estimate coming in at ($1.89) and the highest estimate coming in at ($0.91). bluebird bio posted earnings of ($2.07) per share during the same quarter last year, which would suggest a positive year over year growth rate of 21.3%. The firm is expected to report its next earnings results on Wednesday, November 1st.
According to Zacks, analysts expect that bluebird bio will report full year earnings of ($6.72) per share for the current fiscal year, with EPS estimates ranging from ($7.36) to ($5.18). For the next fiscal year, analysts expect that the business will report earnings of ($6.90) per share, with EPS estimates ranging from ($7.71) to ($3.93). Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover bluebird bio.
bluebird bio (NASDAQ:BLUE) last posted its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported ($1.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.66) by $0.07. The firm had revenue of $16.70 million during the quarter, compared to the consensus estimate of $6.29 million. bluebird bio had a negative return on equity of 32.19% and a negative net margin of 1,080.59%. bluebird bio’s revenue for the quarter was up 977.4% compared to the same quarter last year. During the same quarter last year, the company posted ($1.59) EPS.
A number of brokerages recently weighed in on BLUE. Wedbush restated an “outperform” rating and set a $100.00 price objective (down from $121.00) on shares of bluebird bio in a research note on Friday, June 23rd. BidaskClub upgraded bluebird bio from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 23rd. Morgan Stanley restated an “equal weight” rating and set a $105.00 price objective (up from $91.00) on shares of bluebird bio in a research note on Wednesday, June 14th. Cowen and Company restated a “buy” rating on shares of bluebird bio in a research note on Friday, June 23rd. Finally, Cantor Fitzgerald set a $39.00 price objective on bluebird bio and gave the stock a “sell” rating in a research note on Saturday, June 24th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $100.74.
In other news, insider Nick Leschly sold 25,000 shares of the stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $108.05, for a total value of $2,701,250.00. Following the transaction, the insider now directly owns 360,656 shares of the company’s stock, valued at $38,968,880.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel Lynch sold 2,000 shares of the stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $80.00, for a total value of $160,000.00. Following the completion of the transaction, the director now directly owns 3,400 shares in the company, valued at $272,000. The disclosure for this sale can be found here. Insiders sold 80,106 shares of company stock worth $8,308,358 over the last three months. Corporate insiders own 3.90% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. raised its position in shares of bluebird bio by 5.6% in the second quarter. Ameritas Investment Partners Inc. now owns 3,600 shares of the biotechnology company’s stock worth $378,000 after buying an additional 191 shares in the last quarter. Fairfield Bush & CO. purchased a new position in shares of bluebird bio during the second quarter worth $210,000. Raymond James Financial Services Advisors Inc. purchased a new position in shares of bluebird bio during the second quarter worth $211,000. The Manufacturers Life Insurance Company raised its position in shares of bluebird bio by 0.5% in the second quarter. The Manufacturers Life Insurance Company now owns 31,433 shares of the biotechnology company’s stock worth $3,302,000 after buying an additional 151 shares in the last quarter. Finally, Alpine Global Management LLC purchased a new position in shares of bluebird bio during the second quarter worth $410,000.
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bluebird bio (NASDAQ BLUE) opened at 92.45 on Friday. bluebird bio has a 12-month low of $37.05 and a 12-month high of $123.75. The company’s market cap is $4.21 billion. The firm has a 50-day moving average price of $96.49 and a 200-day moving average price of $91.07.
bluebird bio Company Profile
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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