Leerink Partnrs Weighs in on bluebird bio, Inc.’s Q1 2024 Earnings (NASDAQ:BLUE)

bluebird bio, Inc. (NASDAQ:BLUE) – Research analysts at Leerink Partnrs cut their Q1 2024 earnings estimates for bluebird bio in a research report issued to clients and investors on Tuesday, March 26th. Leerink Partnrs analyst M. Foroohar now anticipates that the biotechnology company will earn ($0.29) per share for the quarter, down from their previous estimate of ($0.24). The consensus estimate for bluebird bio’s current full-year earnings is ($1.78) per share. Leerink Partnrs also issued estimates for bluebird bio’s Q2 2024 earnings at ($0.31) EPS and Q4 2024 earnings at ($0.18) EPS.

Several other equities analysts have also commented on BLUE. Bank of America lowered their price target on shares of bluebird bio from $12.00 to $5.00 and set a “buy” rating for the company in a research report on Thursday, December 21st. Wells Fargo & Company reduced their price objective on shares of bluebird bio from $4.00 to $3.00 and set an “equal weight” rating for the company in a report on Wednesday. HSBC reduced their price objective on shares of bluebird bio from $2.31 to $1.02 and set a “reduce” rating for the company in a report on Tuesday, March 5th. William Blair reaffirmed a “market perform” rating on shares of bluebird bio in a report on Tuesday, January 9th. Finally, Morgan Stanley raised shares of bluebird bio from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $3.00 to $7.00 in a report on Friday, December 8th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, bluebird bio presently has an average rating of “Hold” and a consensus target price of $5.87.

bluebird bio Stock Performance

bluebird bio stock opened at $1.37 on Thursday. The company has a 50-day simple moving average of $1.24 and a 200-day simple moving average of $2.28. bluebird bio has a one year low of $0.88 and a one year high of $5.53.

Institutional Investors Weigh In On bluebird bio

A number of institutional investors and hedge funds have recently bought and sold shares of the business. US Bancorp DE lifted its stake in bluebird bio by 885.7% during the second quarter. US Bancorp DE now owns 7,511 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 6,749 shares in the last quarter. Raymond James & Associates purchased a new stake in bluebird bio during the first quarter valued at about $50,000. Stifel Financial Corp purchased a new stake in bluebird bio during the third quarter valued at about $32,000. Penserra Capital Management LLC purchased a new stake in bluebird bio during the first quarter valued at about $53,000. Finally, Aigen Investment Management LP purchased a new stake in bluebird bio during the third quarter valued at about $34,000. 87.43% of the stock is owned by institutional investors and hedge funds.

bluebird bio Company Profile

bluebird bio, Inc, a biotechnology company, researches, develops, and commercializes gene therapies for severe genetic diseases. Its product candidates for severe genetic diseases include ZYNTEGLO (betibeglogene autotemcel) for the treatment of transfusion-dependent ß-thalassemia; lovotibeglogene autotemcel for the treatment of sickle cell disease (SCD); and SKYSONA (elivaldogene autotemcel) to treat cerebral adrenoleukodystrophy.