Zacks: Brokerages Expect bluebird bio Inc (BLUE) to Announce -$2.77 EPS

Analysts forecast that bluebird bio Inc (NASDAQ:BLUE) will report earnings of ($2.77) per share for the current quarter, according to Zacks. Eight analysts have issued estimates for bluebird bio’s earnings, with estimates ranging from ($2.96) to ($2.55). bluebird bio reported earnings of ($2.52) per share in the same quarter last year, which indicates a negative year-over-year growth rate of 9.9%. The company is expected to announce its next earnings results on Wednesday, February 20th.

According to Zacks, analysts expect that bluebird bio will report full year earnings of ($10.57) per share for the current financial year, with EPS estimates ranging from ($11.00) to ($9.01). For the next fiscal year, analysts expect that the business will post earnings of ($11.50) per share, with EPS estimates ranging from ($12.88) to ($9.95). Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that that provide coverage for bluebird bio.

bluebird bio (NASDAQ:BLUE) last posted its quarterly earnings data on Thursday, November 1st. The biotechnology company reported ($2.73) EPS for the quarter, beating the Zacks’ consensus estimate of ($2.90) by $0.17. bluebird bio had a negative net margin of 1,326.02% and a negative return on equity of 31.50%. The business had revenue of $11.50 million for the quarter, compared to analyst estimates of $6.90 million. During the same quarter last year, the business earned ($1.73) earnings per share. The business’s revenue for the quarter was up 49.2% on a year-over-year basis.

A number of research analysts recently commented on the stock. Cantor Fitzgerald set a $122.00 price objective on shares of bluebird bio and gave the company a “sell” rating in a research note on Friday, July 13th. Maxim Group reiterated a “hold” rating on shares of bluebird bio in a research note on Monday, August 6th. ValuEngine lowered shares of bluebird bio from a “strong-buy” rating to a “buy” rating in a research note on Monday, September 17th. Piper Jaffray Companies reiterated a “buy” rating on shares of bluebird bio in a research note on Sunday. Finally, BidaskClub cut shares of bluebird bio from a “hold” rating to a “sell” rating in a report on Tuesday, September 11th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and sixteen have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $209.74.

In related news, insider Jeffrey T. Walsh sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $156.93, for a total value of $235,395.00. Following the completion of the transaction, the insider now owns 36,995 shares of the company’s stock, valued at approximately $5,805,625.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffrey T. Walsh sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 30th. The stock was sold at an average price of $175.40, for a total transaction of $3,508,000.00. Following the completion of the transaction, the insider now directly owns 44,238 shares of the company’s stock, valued at approximately $7,759,345.20. The disclosure for this sale can be found here. Insiders have sold 46,359 shares of company stock valued at $7,394,762 over the last 90 days. 3.00% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of the stock. CIBC Asset Management Inc boosted its stake in bluebird bio by 28.5% in the 2nd quarter. CIBC Asset Management Inc now owns 1,780 shares of the biotechnology company’s stock worth $279,000 after purchasing an additional 395 shares during the period. State of Alaska Department of Revenue boosted its stake in bluebird bio by 9.2% in the 3rd quarter. State of Alaska Department of Revenue now owns 6,320 shares of the biotechnology company’s stock worth $922,000 after purchasing an additional 530 shares during the period. Dynamic Technology Lab Private Ltd boosted its stake in bluebird bio by 43.2% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 2,040 shares of the biotechnology company’s stock worth $320,000 after purchasing an additional 615 shares during the period. Aperio Group LLC boosted its stake in bluebird bio by 9.7% in the 2nd quarter. Aperio Group LLC now owns 7,295 shares of the biotechnology company’s stock worth $1,145,000 after purchasing an additional 646 shares during the period. Finally, Stratos Wealth Partners LTD. acquired a new position in bluebird bio in the 3rd quarter worth approximately $106,000. 98.63% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ BLUE traded down $1.25 during mid-day trading on Thursday, reaching $132.42. 508,936 shares of the company traded hands, compared to its average volume of 795,518. bluebird bio has a fifty-two week low of $102.21 and a fifty-two week high of $236.17. The firm has a market capitalization of $7.38 billion, a PE ratio of -17.18 and a beta of 2.31.

About bluebird bio

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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