bluebird bio Inc (NASDAQ:BLUE) – Analysts at Wedbush increased their FY2018 earnings per share estimates for bluebird bio in a research note issued to investors on Monday, November 5th. Wedbush analyst D. Nierengarten now anticipates that the biotechnology company will post earnings of ($10.74) per share for the year, up from their previous estimate of ($11.52). Wedbush has a “Outperform” rating and a $166.00 price objective on the stock. Wedbush also issued estimates for bluebird bio’s Q4 2018 earnings at ($2.80) EPS, FY2019 earnings at ($11.89) EPS, FY2020 earnings at ($13.16) EPS, FY2021 earnings at ($10.49) EPS and FY2022 earnings at ($8.28) EPS.
BLUE has been the subject of a number of other reports. Cowen reissued a “buy” rating on shares of bluebird bio in a research note on Monday, August 6th. Janney Montgomery Scott raised bluebird bio from a “neutral” rating to a “buy” rating and set a $170.00 price target for the company in a research note on Monday. Cantor Fitzgerald set a $122.00 price target on bluebird bio and gave the stock a “sell” rating in a research note on Wednesday, September 5th. Morgan Stanley decreased their target price on bluebird bio from $186.00 to $185.00 and set an “equal weight” rating for the company in a research report on Monday. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $208.00 target price on shares of bluebird bio in a research report on Friday, August 3rd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and sixteen have issued a buy rating to the company’s stock. bluebird bio currently has a consensus rating of “Buy” and an average price target of $209.74.
bluebird bio (NASDAQ:BLUE) last issued its quarterly earnings results on Thursday, November 1st. The biotechnology company reported ($2.73) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($2.90) by $0.17. bluebird bio had a negative return on equity of 31.50% and a negative net margin of 1,326.02%. The firm had revenue of $11.50 million during the quarter, compared to analyst estimates of $6.90 million. During the same period last year, the company earned ($1.73) EPS. bluebird bio’s quarterly revenue was up 49.2% compared to the same quarter last year.
In other news, insider David Davidson sold 7,000 shares of bluebird bio stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $166.64, for a total value of $1,166,480.00. Following the transaction, the insider now directly owns 31,905 shares in the company, valued at approximately $5,316,649.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alison Cecily Finger sold 259 shares of bluebird bio stock in a transaction on Monday, August 20th. The shares were sold at an average price of $158.07, for a total value of $40,940.13. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 44,859 shares of company stock valued at $7,159,367. 3.00% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in BLUE. Allianz Asset Management GmbH increased its holdings in shares of bluebird bio by 29.4% in the 1st quarter. Allianz Asset Management GmbH now owns 62,889 shares of the biotechnology company’s stock valued at $10,739,000 after acquiring an additional 14,298 shares during the period. State of Alaska Department of Revenue purchased a new position in shares of bluebird bio in the 2nd quarter valued at $908,000. Xact Kapitalforvaltning AB increased its holdings in shares of bluebird bio by 12.3% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 7,330 shares of the biotechnology company’s stock valued at $1,150,000 after acquiring an additional 800 shares during the period. Bank of Montreal Can purchased a new position in shares of bluebird bio in the 2nd quarter valued at $4,645,000. Finally, Fox Run Management L.L.C. purchased a new position in shares of bluebird bio in the 2nd quarter valued at $908,000. Institutional investors and hedge funds own 98.63% of the company’s stock.
bluebird bio Company Profile
bluebird bio, Inc, a clinical-stage biotechnology company, focuses on developing transformative gene therapies for severe genetic diseases and cancer. Its product candidates include Lenti-D that is in Phase II/III clinical trials for the treatment of cerebral adrenoleukodystrophy, a rare hereditary neurological disorder; and LentiGlobin, which is in various clinical studies for the treatment of transfusion- transfusion-dependent ß-thalassemia and severe sickle cell disease.
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