Jefferies Group Comments on bluebird bio, Inc.’s Q3 2017 Earnings (BLUE)
bluebird bio, Inc. (NASDAQ:BLUE) – Equities research analysts at Jefferies Group issued their Q3 2017 earnings per share (EPS) estimates for shares of bluebird bio in a report released on Wednesday. Jefferies Group analyst B. Amin expects that the biotechnology company will post earnings of ($1.75) per share for the quarter. Jefferies Group currently has a “Hold” rating and a $126.00 target price on the stock. Jefferies Group also issued estimates for bluebird bio’s Q4 2017 earnings at ($1.84) EPS, FY2017 earnings at ($7.01) EPS, FY2018 earnings at ($7.28) EPS, FY2019 earnings at ($7.05) EPS, FY2020 earnings at ($4.21) EPS and FY2021 earnings at $4.34 EPS.
bluebird bio (NASDAQ:BLUE) last posted its earnings results on Wednesday, August 2nd. The biotechnology company reported ($1.73) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 during the quarter, compared to the consensus estimate of $6.29 million. During the same quarter in the previous year, the company earned ($1.59) EPS. The business’s revenue was up 977.4% compared to the same quarter last year.
Several other equities analysts have also commented on BLUE. Standpoint Research reissued a “reduce” rating and set a $110.00 price objective on shares of bluebird bio in a research report on Friday, June 16th. BidaskClub upgraded bluebird bio from a “buy” rating to a “strong-buy” rating in a report on Friday, June 23rd. Wedbush restated an “outperform” rating and set a $100.00 price target (down from $121.00) on shares of bluebird bio in a report on Friday, June 23rd. Cowen and Company restated a “buy” rating on shares of bluebird bio in a report on Friday, June 23rd. Finally, Cantor Fitzgerald set a $39.00 price target on bluebird bio and gave the company a “sell” rating in a report on Saturday, June 24th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. bluebird bio has an average rating of “Hold” and an average target price of $118.81.
Large investors have recently made changes to their positions in the business. Quantitative Investment Management LLC boosted its position in bluebird bio by 1,193.8% in the second quarter. Quantitative Investment Management LLC now owns 104,800 shares of the biotechnology company’s stock worth $11,009,000 after purchasing an additional 96,700 shares during the last quarter. State of Wisconsin Investment Board purchased a new position in bluebird bio in the second quarter worth about $3,257,000. Winfield Associates Inc. boosted its position in 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 purchasing an additional 162 shares during the last quarter. OMERS ADMINISTRATION Corp purchased a new position in bluebird bio in the second quarter worth about $1,061,000. 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 purchasing an additional 28,640 shares during the last quarter.
In other bluebird bio news, insider Eric Sullivan sold 861 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $93.83, for a total value of $80,787.63. Following the transaction, the insider now directly owns 5,924 shares of the company’s stock, valued at $555,848.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David Davidson sold 3,000 shares of the firm’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 completion of the transaction, the insider now directly owns 18,977 shares in the company, valued at $1,752,905.49. The disclosure for this sale can be found here. Insiders sold 131,779 shares of company stock worth $16,038,514 over the last three months. Insiders own 3.90% of the company’s stock.
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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