FY2017 EPS Estimates for Bluebird Bio Inc. Reduced by Analyst (BLUE)
Bluebird Bio Inc. (NASDAQ:BLUE) – Research analysts at Wedbush reduced their FY2017 EPS estimates for Bluebird Bio in a research note issued to investors on Monday. Wedbush analyst D. Nierengarten now forecasts that the brokerage will earn ($6.26) per share for the year, down from their previous estimate of ($6.25). Wedbush currently has a “Outperform” rating and a $117.00 target price on the stock.
Bluebird Bio (NASDAQ:BLUE) last issued its earnings results on Wednesday, August 3rd. The company reported ($1.59) earnings per share for the quarter, missing the consensus estimate of ($1.44) by $0.15. The company had revenue of $1.55 million for the quarter, compared to analysts’ expectations of $2.01 million. Bluebird Bio had a negative net margin of 3,512.13% and a negative return on equity of 24.85%. The company’s revenue was down 68.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.57) earnings per share.
A number of other equities research analysts have also recently commented on BLUE. Jefferies Group reissued a “buy” rating and set a $80.00 price target on shares of Bluebird Bio in a report on Friday, September 30th. Maxim Group set a $100.00 price target on Bluebird Bio and gave the company a “buy” rating in a report on Thursday, September 29th. Roth Capital assumed coverage on Bluebird Bio in a report on Thursday, September 22nd. They set a “buy” rating and a $87.00 price target on the stock. Goldman Sachs Group Inc. raised Bluebird Bio from a “buy” rating to a “conviction-buy” rating and set a $135.00 price target on the stock in a report on Thursday, September 15th. Finally, BTIG Research reissued a “buy” rating and set a $72.00 price target on shares of Bluebird Bio in a report on Sunday, September 11th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $90.25.
Shares of Bluebird Bio (NASDAQ:BLUE) traded up 5.16% during midday trading on Wednesday, reaching $73.14. The company had a trading volume of 904,271 shares. The firm’s market capitalization is $2.72 billion. The stock has a 50-day moving average of $60.55 and a 200 day moving average of $49.62. Bluebird Bio has a 52 week low of $35.37 and a 52 week high of $99.70.
In other Bluebird Bio news, insider Eric Sullivan sold 2,807 shares of the business’s stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $45.04, for a total transaction of $126,427.28. Following the completion of the transaction, the insider now owns 4,656 shares in the company, valued at $209,706.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David Davidson sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $45.08, for a total value of $45,080.00. Following the transaction, the insider now owns 10,600 shares of the company’s stock, valued at approximately $477,848. The disclosure for this sale can be found here. Company insiders own 3.50% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Pacad Investment Ltd. acquired a new position in shares of Bluebird Bio during the first quarter valued at about $829,000. TIAA CREF Investment Management LLC raised its stake in shares of Bluebird Bio by 134.0% in the first quarter. TIAA CREF Investment Management LLC now owns 339,424 shares of the company’s stock worth $14,426,000 after buying an additional 194,367 shares during the last quarter. Teachers Advisors Inc. raised its stake in shares of Bluebird Bio by 5.5% in the first quarter. Teachers Advisors Inc. now owns 46,048 shares of the company’s stock worth $1,957,000 after buying an additional 2,416 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Bluebird Bio by 26.1% in the first quarter. Franklin Resources Inc. now owns 965,561 shares of the company’s stock worth $41,036,000 after buying an additional 199,900 shares during the last quarter. Finally, BlackRock Inc. raised its stake in shares of Bluebird Bio by 341.0% in the first quarter. BlackRock Inc. now owns 4,569 shares of the company’s stock worth $194,000 after buying an additional 3,533 shares during the last quarter.
About Bluebird Bio
bluebird bio, Inc is a biotechnology company. The Company is focused on developing transformative gene therapies for severe genetic and rare diseases and in the field of T cell-based immunotherapy. Its gene therapy clinical programs include LentiGlobin product candidate to treat transfusion-dependent B-thalassemia (TDT) and severe sickle cell disease (SCD), and Lenti-D product candidate to treat cerebral adrenoleukodystrophy (CALD), a rare hereditary neurological disorder.
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