$10.36 Million in Sales Expected for bluebird bio Inc (BLUE) This Quarter

Analysts expect bluebird bio Inc (NASDAQ:BLUE) to post sales of $10.36 million for the current fiscal quarter, according to Zacks. Eight analysts have issued estimates for bluebird bio’s earnings. The lowest sales estimate is $5.00 million and the highest is $12.20 million. bluebird bio posted sales of $4.17 million in the same quarter last year, which suggests a positive year-over-year growth rate of 148.4%. The firm is expected to issue its next quarterly earnings results on Wednesday, February 20th.

According to Zacks, analysts expect that bluebird bio will report full year sales of $44.59 million for the current year, with estimates ranging from $37.00 million to $47.54 million. For the next financial year, analysts expect that the company will post sales of $73.26 million, with estimates ranging from $55.67 million to $121.59 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that follow bluebird bio.

bluebird bio (NASDAQ:BLUE) last posted its quarterly earnings data on Thursday, November 1st. The biotechnology company reported ($2.73) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.90) by $0.17. bluebird bio had a negative net margin of 1,326.02% and a negative return on equity of 31.50%. The firm had revenue of $11.50 million for the quarter, compared to analyst estimates of $6.90 million. During the same period last year, the firm posted ($1.73) EPS. bluebird bio’s quarterly revenue was up 49.2% on a year-over-year basis.

BLUE has been the topic of a number of analyst reports. Cantor Fitzgerald set a $122.00 price objective on shares of bluebird bio and gave the company a “sell” rating in a research report on Friday, July 13th. Maxim Group lowered their price objective on shares of bluebird bio to $163.00 and set a “hold” rating on the stock in a research report on Monday, July 30th. Piper Jaffray Companies reiterated a “buy” rating on shares of bluebird bio in a research report on Thursday, August 2nd. BMO Capital Markets reiterated a “buy” rating and issued a $208.00 price objective on shares of bluebird bio in a research report on Friday, August 3rd. Finally, SunTrust Banks reiterated a “buy” rating and issued a $223.00 price objective on shares of bluebird bio in a research report on Friday, August 3rd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and sixteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $209.74.

NASDAQ:BLUE opened at $126.33 on Friday. bluebird bio has a 1-year low of $102.21 and a 1-year high of $236.17. The firm has a market capitalization of $7.38 billion, a P/E ratio of -16.39 and a beta of 2.31.

In other bluebird bio news, insider Philip D. Gregory sold 1,800 shares of the firm’s stock in a transaction on Monday, November 5th. The stock was sold at an average price of $137.38, for a total value of $247,284.00. Following the completion of the sale, the insider now owns 31,971 shares of the company’s stock, valued at $4,392,175.98. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jeffrey T. Walsh sold 20,000 shares of the firm’s stock in a transaction on Thursday, August 30th. The shares were sold at an average price of $175.40, for a total value of $3,508,000.00. Following the completion of the sale, the insider now directly owns 44,238 shares of the company’s stock, valued at approximately $7,759,345.20. The disclosure for this sale can be found here. In the last three months, insiders sold 44,859 shares of company stock valued at $7,159,367. 3.00% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. FMR LLC lifted its holdings in bluebird bio by 8.1% in the third quarter. FMR LLC now owns 8,123,687 shares of the biotechnology company’s stock valued at $1,186,058,000 after acquiring an additional 605,797 shares during the period. BlackRock Inc. raised its stake in shares of bluebird bio by 7.9% during the 3rd quarter. BlackRock Inc. now owns 2,952,089 shares of the biotechnology company’s stock worth $431,005,000 after buying an additional 216,914 shares during the last quarter. OppenheimerFunds Inc. raised its stake in shares of bluebird bio by 3.0% during the 2nd quarter. OppenheimerFunds Inc. now owns 794,126 shares of the biotechnology company’s stock worth $124,638,000 after buying an additional 23,016 shares during the last quarter. First Trust Advisors LP raised its stake in shares of bluebird bio by 63.2% during the 3rd quarter. First Trust Advisors LP now owns 601,883 shares of the biotechnology company’s stock worth $87,875,000 after buying an additional 233,175 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of bluebird bio by 86.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 581,695 shares of the biotechnology company’s stock worth $84,926,000 after buying an additional 269,074 shares during the last quarter. 98.63% of the stock is owned by institutional investors.

bluebird bio Company Profile

bluebird bio, Inc, a clinical-stage biotechnology company, focuses on developing transformative gene therapies for severe genetic diseases and cancer. Its product candidates include Lenti-D that is in Phase II/III clinical trials for the treatment of cerebral adrenoleukodystrophy, a rare hereditary neurological disorder; and LentiGlobin, which is in various clinical studies for the treatment of transfusion- transfusion-dependent ß-thalassemia and severe sickle cell disease.

Further Reading: What are the Different Types of Leveraged Buyouts?

Get a free copy of the Zacks research report on bluebird bio (BLUE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for bluebird bio (NASDAQ:BLUE)

Receive News & Ratings for bluebird bio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for bluebird bio and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply