bluebird bio Inc (NASDAQ:BLUE) Expected to Post Quarterly Sales of $9.65 Million

Equities research analysts expect bluebird bio Inc (NASDAQ:BLUE) to post $9.65 million in sales for the current fiscal quarter, according to Zacks. Nine analysts have provided estimates for bluebird bio’s earnings, with estimates ranging from $4.02 million to $14.16 million. bluebird bio posted sales of $19.24 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 49.8%. The firm is expected to announce its next quarterly earnings report on Thursday, February 20th.

According to Zacks, analysts expect that bluebird bio will report full-year sales of $43.18 million for the current financial year, with estimates ranging from $34.00 million to $48.84 million. For the next financial year, analysts forecast that the firm will post sales of $57.08 million, with estimates ranging from $15.90 million to $84.25 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for bluebird bio.

A number of equities analysts recently commented on BLUE shares. Svb Leerink upgraded bluebird bio from a “market perform” rating to an “outperform” rating and set a $119.00 target price for the company in a report on Tuesday, November 26th. Maxim Group restated a “buy” rating and set a $130.00 target price on shares of bluebird bio in a report on Friday, November 1st. Wedbush upgraded bluebird bio from a “neutral” rating to an “outperform” rating and lowered their target price for the company from $131.00 to $124.00 in a report on Monday, November 4th. Evercore ISI upgraded bluebird bio from an “in-line” rating to an “outperform” rating and raised their target price for the company from $86.00 to $100.00 in a report on Monday, February 3rd. Finally, Stifel Nicolaus set a $96.00 target price on bluebird bio and gave the company a “hold” rating in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $133.61.

In other news, insider Philip D. Gregory sold 600 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $94.03, for a total transaction of $56,418.00. Following the sale, the insider now owns 25,308 shares of the company’s stock, valued at approximately $2,379,711.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Philip D. Gregory sold 1,800 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $94.31, for a total value of $169,758.00. Following the sale, the insider now directly owns 30,892 shares in the company, valued at approximately $2,913,424.52. The disclosure for this sale can be found here. Insiders sold a total of 13,727 shares of company stock worth $1,242,889 in the last ninety days. 3.00% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Whittier Trust Co. raised its position in shares of bluebird bio by 36.5% during the 4th quarter. Whittier Trust Co. now owns 542 shares of the biotechnology company’s stock worth $48,000 after acquiring an additional 145 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of bluebird bio by 5.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,810 shares of the biotechnology company’s stock worth $350,000 after acquiring an additional 201 shares in the last quarter. SG Americas Securities LLC raised its position in shares of bluebird bio by 15.1% during the 4th quarter. SG Americas Securities LLC now owns 1,551 shares of the biotechnology company’s stock worth $136,000 after acquiring an additional 203 shares in the last quarter. Atria Investments LLC raised its position in shares of bluebird bio by 11.9% during the 2nd quarter. Atria Investments LLC now owns 1,953 shares of the biotechnology company’s stock worth $227,000 after acquiring an additional 208 shares in the last quarter. Finally, California State Teachers Retirement System raised its position in shares of bluebird bio by 0.3% during the 3rd quarter. California State Teachers Retirement System now owns 87,794 shares of the biotechnology company’s stock worth $8,061,000 after acquiring an additional 238 shares in the last quarter.

bluebird bio stock traded down $0.19 during midday trading on Tuesday, reaching $89.31. 416,130 shares of the stock traded hands, compared to its average volume of 857,323. The company has a 50-day simple moving average of $89.21 and a two-hundred day simple moving average of $93.79. bluebird bio has a 12-month low of $71.42 and a 12-month high of $163.43. The firm has a market cap of $4.94 billion, a PE ratio of -6.88 and a beta of 2.44. The company has a current ratio of 6.22, a quick ratio of 6.22 and a debt-to-equity ratio of 0.12.

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 in severe genetic diseases include LentiGlobin, which is in various clinical studies for the treatment of transfusion-dependent ß-thalassemia and severe sickle cell disease; and Lenti-D that is in Phase II/III clinical trials for the treatment of cerebral adrenoleukodystrophy, a rare hereditary neurological disorder.

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