Zacks: Analysts Anticipate bluebird bio, Inc. (BLUE) Will Announce Quarterly Sales of $9.71 Million
Brokerages expect bluebird bio, Inc. (NASDAQ:BLUE) to announce sales of $9.71 million for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for bluebird bio’s earnings, with the lowest sales estimate coming in at $6.40 million and the highest estimate coming in at $16.93 million. bluebird bio posted sales of $1.55 million in the same quarter last year, which would indicate a positive year over year growth rate of 526.5%. The company is scheduled to issue its next quarterly earnings results on Wednesday, November 1st.
According to Zacks, analysts expect that bluebird bio will report full-year sales of $9.71 million for the current fiscal year, with estimates ranging from $26.00 million to $57.62 million. For the next financial year, analysts forecast that the business will report sales of $25.69 million per share, with estimates ranging from $13.00 million to $43.28 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow bluebird bio.
bluebird bio (NASDAQ:BLUE) last announced 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. bluebird bio had a negative net margin of 1,080.59% and a negative return on equity of 32.19%. The business had revenue of $16.70 million during the quarter, compared to analyst estimates of $6.29 million. During the same quarter in the prior year, the company posted ($1.59) EPS. The company’s quarterly revenue was up 977.4% compared to the same quarter last year.
A number of research firms have recently weighed in on BLUE. Barclays PLC began coverage on bluebird bio in a report on Wednesday. They set an “overweight” rating and a $151.00 target price for the company. Wells Fargo & Company reissued an “outperform” rating and set a $158.00 target price (up previously from $134.00) on shares of bluebird bio in a report on Tuesday. Wedbush reissued an “outperform” rating and set a $135.00 target price (up previously from $121.00) on shares of bluebird bio in a report on Friday, September 1st. Cowen and Company reissued an “outperform” rating on shares of bluebird bio in a report on Thursday, August 31st. Finally, Evercore ISI began coverage on bluebird bio in a report on Wednesday, August 16th. They set an “in-line” rating and a $102.00 target price for the company. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $107.86.
In other bluebird bio news, insider Eric Sullivan sold 861 shares of the business’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $93.83, for a total transaction of $80,787.63. Following the completion of the transaction, the insider now owns 5,924 shares of the company’s stock, valued at $555,848.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider David Davidson sold 3,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $92.37, for a total value of $277,110.00. Following the transaction, the insider now directly owns 18,977 shares of the company’s stock, valued at approximately $1,752,905.49. The disclosure for this sale can be found here. In the last three months, insiders have sold 142,348 shares of company stock valued at $16,331,428. Insiders own 3.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of BLUE. QS Investors LLC raised its stake in bluebird bio by 70.7% during the second quarter. QS Investors LLC now owns 1,207 shares of the biotechnology company’s stock worth $127,000 after acquiring an additional 500 shares in the last quarter. Bank of Montreal Can raised its stake in bluebird bio by 118.9% during the second quarter. Bank of Montreal Can now owns 1,677 shares of the biotechnology company’s stock worth $176,000 after acquiring an additional 911 shares in the last quarter. Turner Investments LLC acquired a new position in bluebird bio during the second quarter worth about $184,000. SG Americas Securities LLC raised its stake in bluebird bio by 17.9% during the second quarter. SG Americas Securities LLC now owns 1,945 shares of the biotechnology company’s stock worth $204,000 after acquiring an additional 295 shares in the last quarter. Finally, Fairfield Bush & CO. acquired a new position in bluebird bio during the second quarter worth about $210,000.
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bluebird bio (NASDAQ BLUE) opened at 124.80 on Friday. bluebird bio has a 52 week low of $37.05 and a 52 week high of $133.10. The firm’s market cap is $5.69 billion. The stock has a 50 day moving average of $101.89 and a 200-day moving average of $94.59.
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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