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

Brokerages expect that bluebird bio, Inc. (NASDAQ:BLUE) will post sales of $6.40 million for the current quarter, Zacks reports. Two analysts have made estimates for bluebird bio’s earnings, with estimates ranging from $5.00 million to $7.80 million. bluebird bio reported sales of $10.71 million in the same quarter last year, which would suggest a negative year over year growth rate of 40.2%. The business is expected to report its next quarterly earnings results on Tuesday, February 22nd.

On average, 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 fiscal year, analysts expect that the firm will post sales of $24.06 million, with estimates ranging from $3.27 million to $98.06 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that that provide coverage for bluebird bio.

bluebird bio (NASDAQ:BLUE) last issued its earnings results on Friday, November 5th. The biotechnology company reported ($3.16) EPS for the quarter, missing the Zacks’ 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 in the prior year, the business posted ($2.94) EPS. The business’s revenue was up 17.6% on a year-over-year basis.

BLUE has been the subject of several recent analyst reports. Wells Fargo & Company lowered their target price on bluebird bio from $25.00 to $16.00 and set an “equal weight” rating for the company in a research note on Monday, November 8th. Canaccord Genuity cut their target price on bluebird bio from $20.00 to $15.00 and set a “hold” rating on the stock in a research report on Monday, November 8th. Barclays decreased their price target on shares of bluebird bio from $20.00 to $13.00 and set an “equal weight” rating for the company in a research report on Monday, November 8th. The Goldman Sachs Group downgraded shares of bluebird bio from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $23.00 to $10.00 in a research note on Monday, November 8th. Finally, Royal Bank of Canada cut their target price on shares of bluebird bio from $26.00 to $14.00 and set a “sector perform” rating on the stock in a research note on Monday, November 8th. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $18.75.

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

Hedge funds have recently bought and sold shares of the business. HRT Financial LP acquired a new stake in shares of bluebird bio in the 1st quarter worth about $563,000. Ameriprise Financial Inc. grew its position in bluebird bio by 755.5% in the 1st quarter. Ameriprise Financial Inc. now owns 326,706 shares of the biotechnology company’s stock worth $9,850,000 after purchasing an additional 288,517 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of bluebird bio by 93.1% in the first quarter. AQR Capital Management LLC now owns 9,771 shares of the biotechnology company’s stock valued at $290,000 after purchasing an additional 4,712 shares during the period. Schonfeld Strategic Advisors LLC bought a new stake in shares of bluebird bio during the first quarter valued at approximately $214,000. Finally, Cubist Systematic Strategies LLC boosted its position in shares of bluebird bio by 37.1% during the first quarter. Cubist Systematic Strategies LLC now owns 158,725 shares of the biotechnology company’s stock worth $4,786,000 after buying an additional 42,936 shares during the period. Institutional investors own 77.66% of the company’s stock.

About bluebird bio

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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