Zacks: Brokerages Anticipate bluebird bio, Inc. (NASDAQ:BLUE) Will Post Quarterly Sales of $6.40 Million

Equities analysts forecast that bluebird bio, Inc. (NASDAQ:BLUE) will post sales of $6.40 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for bluebird bio’s earnings, with the lowest sales estimate coming in at $5.00 million and the highest estimate coming in at $7.80 million. bluebird bio posted sales of $10.71 million during the same quarter last year, which would indicate a negative year over year growth rate of 40.2%. The firm is scheduled to issue its next earnings results on Tuesday, February 22nd.

According to Zacks, analysts expect that bluebird bio will report full-year sales of $45.85 million for the current year, with estimates ranging from $36.60 million to $54.00 million. For the next financial year, analysts forecast that the business will report sales of $24.06 million, with estimates ranging from $3.27 million to $98.06 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover bluebird bio.

bluebird bio (NASDAQ:BLUE) last released its quarterly earnings data on Friday, November 5th. The biotechnology company reported ($3.16) EPS for the quarter, missing the consensus estimate of ($2.65) by ($0.51). bluebird bio had a negative net margin of 1,610.78% and a negative return on equity of 76.93%. The business had revenue of $22.70 million during the quarter, compared to analysts’ expectations of $39.07 million. During the same period last year, the company earned ($2.94) earnings per share. The firm’s revenue was up 17.6% on a year-over-year basis.

Several brokerages recently weighed in on BLUE. Bank of America reduced their price target on bluebird bio from $41.00 to $22.00 and set a “neutral” rating for the company in a research report on Tuesday, August 10th. Royal Bank of Canada dropped their price target on shares of bluebird bio from $26.00 to $14.00 and set a “sector perform” rating on the stock in a research report on Monday, November 8th. Mizuho decreased their price objective on shares of bluebird bio from $29.00 to $23.00 and set a “buy” rating for the company in a research report on Wednesday, September 22nd. Berenberg Bank restated a “hold” rating and issued a $11.00 price target on shares of bluebird bio in a research note on Friday, November 12th. Finally, Stifel Nicolaus dropped their price objective on bluebird bio from $31.00 to $18.00 and set a “hold” rating on the stock in a report on Monday, August 9th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $18.75.

BLUE traded up $0.03 during midday trading on Friday, hitting $10.76. 4,614,857 shares of the company were exchanged, compared to its average volume of 1,633,104. The company’s 50 day simple moving average is $17.80 and its 200 day simple moving average is $23.38. The firm has a market capitalization of $754.35 million, a price-to-earnings ratio of -0.84 and a beta of 1.58. bluebird bio has a 1-year low of $10.21 and a 1-year high of $53.68.

A number of large investors have recently modified their holdings of BLUE. Berman Capital Advisors LLC boosted its position in shares of bluebird bio by 3,217.0% during the 3rd quarter. Berman Capital Advisors LLC now owns 1,758 shares of the biotechnology company’s stock valued at $33,000 after acquiring an additional 1,705 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in bluebird bio by 4,861.3% in the 2nd quarter. Lazard Asset Management LLC now owns 3,076 shares of the biotechnology company’s stock valued at $97,000 after purchasing an additional 3,014 shares during the last quarter. Point72 Hong Kong Ltd grew its stake in shares of bluebird bio by 130.5% in the 3rd quarter. Point72 Hong Kong Ltd now owns 6,474 shares of the biotechnology company’s stock valued at $124,000 after buying an additional 3,665 shares during the period. Ameritas Investment Partners Inc. acquired a new stake in shares of bluebird bio during the 2nd quarter worth approximately $169,000. Finally, AGF Investments Inc. purchased a new stake in shares of bluebird bio during the 3rd quarter valued at approximately $199,000. Institutional investors own 77.66% of the company’s stock.

bluebird bio Company Profile

bluebird bio, Inc is a clinical-stage biotechnology company, which engages in the development of potential gene therapies for severe genetic diseases and cancer. Its integrated product platform includes gene therapy, cancer immunotherapy and gene editing. Its product pipeline includes Lenti-D, LentiGlobin, BCL11a shRNA, bb2121, and bb21217.

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