Q3 2017 EPS Estimates for bluebird bio, Inc. (NASDAQ:BLUE) Cut by Leerink Swann
bluebird bio, Inc. (NASDAQ:BLUE) – Analysts at Leerink Swann decreased their Q3 2017 EPS estimates for bluebird bio in a research note issued on Wednesday. Leerink Swann analyst M. Schmidt now expects that the biotechnology company will post earnings of ($1.79) per share for the quarter, down from their previous estimate of ($1.67). Leerink Swann also issued estimates for bluebird bio’s Q4 2017 earnings at ($1.86) EPS, FY2017 earnings at ($7.07) EPS, FY2018 earnings at ($7.29) EPS, FY2019 earnings at ($7.46) EPS and FY2020 earnings at ($5.10) EPS.
Several other brokerages also recently weighed in on BLUE. Zacks Investment Research downgraded shares of bluebird bio from a “hold” rating to a “sell” rating in a research note on Tuesday, April 25th. BTIG Research downgraded shares of bluebird bio from a “buy” rating to a “neutral” rating and increased their target price for the company from $37.05 to $108.25 in a research note on Friday, June 30th. Wedbush reissued an “outperform” rating and issued a $100.00 target price (down previously from $121.00) on shares of bluebird bio in a research note on Friday, June 23rd. Cowen and Company reissued an “outperform” rating on shares of bluebird bio in a research note on Friday, June 9th. Finally, BidaskClub raised shares of bluebird bio from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 23rd. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $100.66.
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Shares of bluebird bio (BLUE) opened at 98.65 on Monday. The firm has a 50-day moving average of $102.86 and a 200-day moving average of $88.98. bluebird bio has a one year low of $37.05 and a one year high of $123.75. The company’s market cap is $4.49 billion.
bluebird bio (NASDAQ:BLUE) last announced its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($1.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.66) by $0.07. The firm had revenue of $16.70 million during the quarter, compared to the consensus estimate of $6.29 million. bluebird bio had a negative return on equity of 32.19% and a negative net margin of 1,080.59%. bluebird bio’s revenue was up 977.4% on a year-over-year basis. During the same period last year, the business earned ($1.59) EPS.
In other bluebird bio news, Director Daniel Lynch sold 2,000 shares of the stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $80.00, for a total transaction of $160,000.00. Following the transaction, the director now directly owns 3,400 shares in the company, valued at approximately $272,000. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Eric Sullivan sold 861 shares of the stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $93.83, for a total transaction of $80,787.63. Following the transaction, the insider now owns 5,924 shares in the company, valued at $555,848.92. The disclosure for this sale can be found here. Insiders sold a total of 77,106 shares of company stock worth $8,018,895 in the last ninety days. 3.90% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of Montreal Can boosted its position in shares of bluebird bio by 118.9% in the second quarter. Bank of Montreal Can now owns 1,677 shares of the biotechnology company’s stock valued at $176,000 after buying an additional 911 shares during the last quarter. Turner Investments LLC acquired a new position in shares of bluebird bio during the second quarter valued at about $184,000. SG Americas Securities LLC boosted its position in shares of bluebird bio by 17.9% in the second quarter. SG Americas Securities LLC now owns 1,945 shares of the biotechnology company’s stock valued at $204,000 after buying an additional 295 shares during the last quarter. Affinity Investment Advisors LLC acquired a new position in shares of bluebird bio during the second quarter valued at about $246,000. Finally, First Mercantile Trust Co. boosted its position in shares of bluebird bio by 14.4% in the first quarter. First Mercantile Trust Co. now owns 2,897 shares of the biotechnology company’s stock valued at $263,000 after buying an additional 365 shares during the last quarter.
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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