bluebird bio, Inc. (BLUE) Expected to Announce Quarterly Sales of $7.20 Million
Brokerages expect that bluebird bio, Inc. (NASDAQ:BLUE) will report $7.20 million in sales for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for bluebird bio’s earnings, with the highest sales estimate coming in at $9.70 million and the lowest estimate coming in at $5.32 million. bluebird bio posted sales of $1.55 million during the same quarter last year, which suggests a positive year-over-year growth rate of 364.5%. The firm is expected to report its next quarterly earnings report on Wednesday, February 28th.
According to Zacks, analysts expect that bluebird bio will report full-year sales of $7.20 million for the current year, with estimates ranging from $36.57 million to $53.07 million. For the next financial year, analysts forecast that the company will report sales of $26.90 million per share, with estimates ranging from $13.00 million to $43.28 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow bluebird bio.
bluebird bio (NASDAQ:BLUE) last announced its earnings results on Wednesday, November 1st. The biotechnology company reported ($1.73) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.68) by ($0.05). The firm had revenue of $7.71 million for the quarter, compared to the consensus estimate of $8.47 million. bluebird bio had a negative return on equity of 28.79% and a negative net margin of 883.18%. bluebird bio’s revenue for the quarter was up 397.4% on a year-over-year basis. During the same quarter last year, the business posted ($2.07) EPS.
A number of equities analysts have recently weighed in on BLUE shares. Maxim Group reiterated a “buy” rating and set a $170.00 target price (up previously from $100.00) on shares of bluebird bio in a research note on Monday, October 9th. Leerink Swann reiterated an “outperform” rating and set a $162.00 target price (up previously from $145.00) on shares of bluebird bio in a research note on Wednesday, November 1st. BMO Capital Markets increased their target price on bluebird bio from $134.00 to $162.00 and gave the stock a “buy” rating in a research note on Monday, October 30th. Jefferies Group reiterated a “hold” rating and set a $126.00 target price on shares of bluebird bio in a research note on Wednesday, October 11th. Finally, SunTrust Banks increased their target price on bluebird bio from $108.00 to $163.00 and gave the stock a “buy” rating in a research note on Friday, November 3rd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $157.45.
bluebird bio (BLUE) opened at $170.70 on Monday. The firm has a market capitalization of $7,820.00, a P/E ratio of -24.35 and a beta of 2.08. bluebird bio has a 52 week low of $63.90 and a 52 week high of $222.03.
In other bluebird bio news, Director Mark Vachon sold 7,000 shares of the firm’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $216.64, for a total transaction of $1,516,480.00. Following the transaction, the director now owns 8,000 shares in the company, valued at approximately $1,733,120. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Nick Leschly sold 7,050 shares of the firm’s stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $145.14, for a total value of $1,023,237.00. Following the completion of the sale, the insider now directly owns 259,059 shares in the company, valued at approximately $37,599,823.26. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 222,268 shares of company stock worth $38,896,707. Corporate insiders own 3.90% of the company’s stock.
Several hedge funds have recently modified their holdings of the business. FMR LLC boosted its holdings in shares of bluebird bio by 9.6% in the 2nd quarter. FMR LLC now owns 6,713,949 shares of the biotechnology company’s stock valued at $705,301,000 after purchasing an additional 587,236 shares in the last quarter. Capital Research Global Investors boosted its holdings in shares of bluebird bio by 9.9% in the 2nd quarter. Capital Research Global Investors now owns 5,483,117 shares of the biotechnology company’s stock valued at $576,001,000 after purchasing an additional 493,072 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of bluebird bio by 10.7% in the 2nd quarter. Vanguard Group Inc. now owns 3,559,102 shares of the biotechnology company’s stock valued at $373,884,000 after purchasing an additional 343,856 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of bluebird bio by 4.3% in the 2nd quarter. BlackRock Inc. now owns 3,320,329 shares of the biotechnology company’s stock valued at $348,801,000 after purchasing an additional 138,141 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of bluebird bio by 11.7% in the 2nd quarter. Northern Trust Corp now owns 518,673 shares of the biotechnology company’s stock valued at $54,487,000 after purchasing an additional 54,142 shares in the last quarter.
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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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