Bluebird Bio Inc. (NASDAQ:BLUE) – Equities research analysts at Wedbush decreased their FY2017 earnings per share estimates for Bluebird Bio in a research report issued to clients and investors on Monday. Wedbush analyst D. Nierengarten now expects that the brokerage will post earnings of ($6.26) per share for the year, down from their prior estimate of ($6.25). Wedbush currently has a “Outperform” rating and a $117.00 price target on the stock.
Bluebird Bio (NASDAQ:BLUE) last released its quarterly earnings data on Wednesday, August 3rd. The company reported ($1.59) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.44) by $0.15. Bluebird Bio had a negative return on equity of 24.85% and a negative net margin of 3,512.13%. The firm earned $1.55 million during the quarter, compared to analyst estimates of $2.01 million. During the same period last year, the business earned ($1.57) EPS. The firm’s revenue was down 68.6% on a year-over-year basis.
Several other equities research analysts also recently issued reports on BLUE. Vetr downgraded shares of Bluebird Bio from a “strong-buy” rating to a “sell” rating and set a $44.44 price objective on the stock. in a research note on Wednesday, June 8th. Leerink Swann restated a “buy” rating on shares of Bluebird Bio in a research note on Monday, June 13th. BTIG Research restated a “buy” rating and issued a $72.00 price objective on shares of Bluebird Bio in a research note on Wednesday, June 29th. Jefferies Group reiterated a “buy” rating and set a $80.00 price target on shares of Bluebird Bio in a research note on Friday, July 8th. Finally, Maxim Group reiterated a “buy” rating and set a $85.00 price target (down previously from $105.00) on shares of Bluebird Bio in a research note on Thursday, August 4th. Five investment 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 stock. The company currently has an average rating of “Buy” and an average price target of $90.25.
Bluebird Bio (NASDAQ:BLUE) traded up 5.16% during mid-day trading on Wednesday, hitting $73.14. 904,271 shares of the company were exchanged. The stock’s 50 day moving average is $60.55 and its 200-day moving average is $49.62. Bluebird Bio has a 12-month low of $35.37 and a 12-month high of $99.70. The company’s market cap is $2.72 billion.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP acquired a new position in Bluebird Bio during the first quarter worth about $51,095,000. BlackRock Inc. increased its position in 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. California State Teachers Retirement System increased its position in Bluebird Bio by 2.2% in the second quarter. California State Teachers Retirement System now owns 77,687 shares of the company’s stock worth $3,363,000 after buying an additional 1,682 shares during the last quarter. Iguana Healthcare Management LLC acquired a new position in Bluebird Bio during the first quarter worth about $1,030,000. Finally, Swiss National Bank increased its position in Bluebird Bio by 10.6% in the second quarter. Swiss National Bank now owns 59,707 shares of the company’s stock worth $2,585,000 after buying an additional 5,700 shares during the last quarter.
In other Bluebird Bio news, insider Eric Sullivan sold 2,912 shares of the company’s stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $55.01, for a total transaction of $160,189.12. Following the transaction, the insider now directly owns 4,456 shares in the company, valued at approximately $245,124.56. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider David Davidson sold 1,000 shares of the company’s stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $45.08, for a total transaction of $45,080.00. Following the transaction, the insider now owns 10,600 shares in the company, valued at $477,848. The disclosure for this sale can be found here. 3.50% of the stock is owned by corporate insiders.
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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