SunTrust Banks Comments on bluebird bio Inc’s FY2018 Earnings (BLUE)

bluebird bio Inc (NASDAQ:BLUE) – Investment analysts at SunTrust Banks raised their FY2018 earnings per share estimates for shares of bluebird bio in a report issued on Monday, November 5th. SunTrust Banks analyst E. Nash now forecasts that the biotechnology company will post earnings per share of ($10.70) for the year, up from their previous estimate of ($10.90). SunTrust Banks has a “Buy” rating and a $223.00 price objective on the stock. SunTrust Banks also issued estimates for bluebird bio’s Q4 2018 earnings at ($2.74) EPS, Q3 2019 earnings at ($3.07) EPS, Q4 2019 earnings at ($3.04) EPS, FY2019 earnings at ($12.28) EPS, FY2020 earnings at ($9.74) EPS, FY2021 earnings at ($6.09) EPS and FY2022 earnings at $0.98 EPS.

bluebird bio (NASDAQ:BLUE) last posted its quarterly earnings results on Thursday, November 1st. The biotechnology company reported ($2.73) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $11.50 million for the quarter, compared to analyst estimates of $6.90 million. During the same period in the prior year, the firm posted ($1.73) earnings per share. The company’s quarterly revenue was up 49.2% compared to the same quarter last year.

Other analysts have also issued reports about the stock. Cantor Fitzgerald set a $122.00 price target on shares of bluebird bio and gave the stock a “sell” rating in a research report on Friday, July 13th. Maxim Group reaffirmed a “hold” rating on shares of bluebird bio in a research report on Monday, August 6th. ValuEngine lowered shares of bluebird bio from a “strong-buy” rating to a “buy” rating in a research report on Monday, September 17th. Piper Jaffray Companies reaffirmed a “buy” rating on shares of bluebird bio in a research report on Sunday, November 4th. Finally, BidaskClub lowered shares of bluebird bio from a “hold” rating to a “sell” rating in a research report on Tuesday, September 11th. Two equities 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. bluebird bio has an average rating of “Buy” and an average target price of $209.74.

NASDAQ BLUE opened at $132.42 on Thursday. bluebird bio has a 1 year low of $102.21 and a 1 year high of $236.17. The firm has a market cap of $7.38 billion, a price-to-earnings ratio of -17.18 and a beta of 2.31.

In other news, Director James Mandell sold 1,000 shares of the stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $150.77, for a total value of $150,770.00. Following the transaction, the director now directly owns 1,568 shares of the company’s stock, valued at $236,407.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alison Cecily Finger sold 259 shares of the stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $158.07, for a total transaction of $40,940.13. The disclosure for this sale can be found here. Insiders sold 44,859 shares of company stock worth $7,159,367 over the last three months. Insiders own 3.00% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Allianz Asset Management GmbH grew its stake in shares of bluebird bio by 29.4% in the first 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 in the last quarter. State of Alaska Department of Revenue acquired a new position in shares of bluebird bio in the second quarter valued at about $908,000. Xact Kapitalforvaltning AB grew its stake in shares of bluebird bio by 12.3% in the second 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 in the last quarter. Bank of Montreal Can acquired a new position in shares of bluebird bio in the second quarter valued at about $4,645,000. Finally, Fox Run Management L.L.C. acquired a new position in shares of bluebird bio in the second quarter valued at about $908,000. 98.63% of the stock is currently owned by institutional investors.

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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Earnings History and Estimates for bluebird bio (NASDAQ:BLUE)

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