bluebird bio Inc (NASDAQ:BLUE) – Analysts at Wedbush raised their FY2019 earnings per share (EPS) estimates for shares of bluebird bio in a research report issued on Monday, November 4th. Wedbush analyst D. Nierengarten now forecasts that the biotechnology company will earn ($13.70) per share for the year, up from their prior estimate of ($13.83). Wedbush has a “Outperform” rating and a $124.00 price objective on the stock. Wedbush also issued estimates for bluebird bio’s Q4 2019 earnings at ($3.42) EPS, Q1 2020 earnings at ($3.59) EPS, Q2 2020 earnings at ($3.75) EPS, Q3 2020 earnings at ($3.95) EPS, Q4 2020 earnings at ($3.56) EPS, FY2020 earnings at ($14.89) EPS, FY2021 earnings at ($10.76) EPS, FY2022 earnings at ($7.62) EPS and FY2023 earnings at ($1.03) EPS.
Several other research firms have also weighed in on BLUE. Gabelli reaffirmed a “buy” rating on shares of bluebird bio in a report on Friday, July 19th. Piper Jaffray Companies dropped their price objective on shares of bluebird bio from $120.00 to $85.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Morgan Stanley set a $100.00 price objective on shares of bluebird bio and gave the stock a “hold” rating in a report on Friday, November 1st. ValuEngine raised shares of bluebird bio from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st. Finally, Stifel Nicolaus set a $96.00 price objective on shares of bluebird bio and gave the stock a “hold” rating in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. bluebird bio has a consensus rating of “Buy” and a consensus price target of $143.74.
NASDAQ BLUE opened at $78.50 on Wednesday. The firm has a market cap of $4.58 billion, a price-to-earnings ratio of -7.35 and a beta of 2.17. The company has a 50 day moving average of $90.33 and a 200-day moving average of $115.58. The company has a current ratio of 6.22, a quick ratio of 6.22 and a debt-to-equity ratio of 0.12. bluebird bio has a 1-year low of $77.26 and a 1-year high of $163.43.
bluebird bio (NASDAQ:BLUE) last posted its quarterly earnings results on Thursday, October 31st. The biotechnology company reported ($3.73) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($3.54) by ($0.19). bluebird bio had a negative return on equity of 42.29% and a negative net margin of 1,326.56%. The business had revenue of $8.91 million during the quarter, compared to analyst estimates of $12.47 million. During the same period last year, the company earned ($2.73) EPS. The business’s revenue for the quarter was down 22.7% on a year-over-year basis.
In related news, insider David Davidson sold 2,060 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $100.16, for a total value of $206,329.60. Following the completion of the sale, the insider now owns 34,616 shares of the company’s stock, valued at $3,467,138.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Philip D. Gregory sold 850 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $101.20, for a total transaction of $86,020.00. Following the completion of the sale, the insider now directly owns 30,692 shares of the company’s stock, valued at approximately $3,106,030.40. The disclosure for this sale can be found here. In the last three months, insiders sold 3,660 shares of company stock valued at $376,617. 3.00% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of BLUE. Invesco Ltd. increased its holdings in shares of bluebird bio by 898.6% in the second quarter. Invesco Ltd. now owns 1,053,942 shares of the biotechnology company’s stock valued at $134,061,000 after purchasing an additional 948,400 shares in the last quarter. Nuveen Asset Management LLC acquired a new stake in shares of bluebird bio in the second quarter valued at approximately $53,104,000. Eaton Vance Management increased its holdings in shares of bluebird bio by 483.4% in the second quarter. Eaton Vance Management now owns 255,338 shares of the biotechnology company’s stock valued at $32,479,000 after purchasing an additional 211,569 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of bluebird bio by 29.5% in the second quarter. Victory Capital Management Inc. now owns 752,300 shares of the biotechnology company’s stock valued at $95,693,000 after purchasing an additional 171,555 shares in the last quarter. Finally, Bessemer Group Inc. increased its holdings in shares of bluebird bio by 477,536.7% in the second quarter. Bessemer Group Inc. now owns 143,291 shares of the biotechnology company’s stock valued at $18,227,000 after purchasing an additional 143,261 shares in the last quarter.
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 in severe genetic diseases include LentiGlobin, which is in various clinical studies for the treatment of transfusion-dependent ß-thalassemia and severe sickle cell disease; and Lenti-D that is in Phase II/III clinical trials for the treatment of cerebral adrenoleukodystrophy, a rare hereditary neurological disorder.
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