Zacks: Brokerages Anticipate bluebird bio, Inc. (BLUE) to Post -$1.64 Earnings Per Share

Wall Street analysts forecast that bluebird bio, Inc. (NASDAQ:BLUE) will post earnings per share of ($1.64) for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for bluebird bio’s earnings, with the lowest EPS estimate coming in at ($2.10) and the highest estimate coming in at ($0.78). bluebird bio reported earnings of ($1.88) per share during the same quarter last year, which indicates a positive year over year growth rate of 12.8%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, February 28th.

On average, analysts expect that bluebird bio will report full-year earnings of ($6.72) per share for the current financial year, with EPS estimates ranging from ($7.27) to ($5.44). For the next fiscal year, analysts anticipate that the company will report earnings of ($6.85) per share, with EPS estimates ranging from ($7.85) to ($3.53). Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that that provide coverage for bluebird bio.

bluebird bio (NASDAQ:BLUE) last issued its quarterly earnings results on Wednesday, November 1st. The biotechnology company reported ($1.73) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.68) by ($0.05). bluebird bio had a negative net margin of 883.18% and a negative return on equity of 28.79%. The company had revenue of $7.71 million for the quarter, compared to analyst estimates of $8.47 million. During the same quarter in the previous year, the company posted ($2.07) EPS. The company’s revenue for the quarter was up 397.4% compared to the same quarter last year.

Several analysts have recently commented on BLUE shares. Wedbush reaffirmed an “outperform” rating and issued a $174.00 price objective (up from $135.00) on shares of bluebird bio in a report on Thursday, November 2nd. Cantor Fitzgerald reaffirmed a “sell” rating and issued a $39.00 price objective on shares of bluebird bio in a report on Thursday, September 28th. Evercore ISI raised shares of bluebird bio from an “in-line” rating to an “outperform” rating and set a $102.00 price objective on the stock in a report on Monday, October 16th. BMO Capital Markets upped their price objective on shares of bluebird bio from $134.00 to $162.00 and gave the company a “buy” rating in a report on Monday, October 30th. Finally, Goldman Sachs Group reaffirmed a “buy” rating and issued a $186.00 price objective on shares of bluebird bio in a report on Friday, October 6th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the company. bluebird bio has a consensus rating of “Hold” and a consensus target price of $157.45.

bluebird bio (BLUE) traded down $0.95 during mid-day trading on Friday, hitting $170.70. 631,389 shares of the stock traded hands, compared to its average volume of 1,040,000. The stock has a market cap of $7,820.00, a P/E ratio of -24.35 and a beta of 2.08. bluebird bio has a fifty-two week low of $63.90 and a fifty-two week high of $222.03.

In related news, insider Jason Cole sold 1,129 shares of the stock in a transaction on Friday, January 5th. The shares were sold at an average price of $173.38, for a total transaction of $195,746.02. Following the sale, the insider now directly owns 19,945 shares of the company’s stock, valued at $3,458,064.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider David Davidson sold 6,000 shares of the stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $180.30, for a total transaction of $1,081,800.00. Following the sale, the insider now directly owns 21,977 shares in the company, valued at $3,962,453.10. The disclosure for this sale can be found here. Insiders have sold 222,268 shares of company stock worth $38,896,707 over the last three months. 3.90% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Hanseatic Management Services Inc. boosted its holdings in bluebird bio by 0.3% during the second quarter. Hanseatic Management Services Inc. now owns 10,436 shares of the biotechnology company’s stock worth $1,096,000 after buying an additional 27 shares in the last quarter. Cornerstone Capital Management Holdings LLC. lifted its holdings in bluebird bio by 0.8% during the second quarter. Cornerstone Capital Management Holdings LLC. now owns 17,955 shares of the biotechnology company’s stock valued at $1,885,000 after purchasing an additional 140 shares in the last quarter. Prudential Financial Inc. lifted its holdings in bluebird bio by 4.0% during the second quarter. Prudential Financial Inc. now owns 3,882 shares of the biotechnology company’s stock valued at $408,000 after purchasing an additional 150 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in bluebird bio by 0.5% during the second quarter. The Manufacturers Life Insurance Company now owns 31,433 shares of the biotechnology company’s stock valued at $3,302,000 after purchasing an additional 151 shares in the last quarter. Finally, Amalgamated Bank lifted its holdings in bluebird bio by 3.3% during the second quarter. Amalgamated Bank now owns 5,232 shares of the biotechnology company’s stock valued at $550,000 after purchasing an additional 168 shares in the last quarter.

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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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