bluebird bio Inc (NASDAQ:BLUE) – Research analysts at Wedbush raised their FY2018 earnings per share estimates for bluebird bio in a research report issued on Monday, November 5th. Wedbush analyst D. Nierengarten now anticipates that the biotechnology company will post earnings of ($10.74) per share for the year, up from their previous estimate of ($11.52). Wedbush currently has a “Outperform” rating and a $166.00 target price on the stock. Wedbush also issued estimates for bluebird bio’s Q4 2018 earnings at ($2.80) EPS, FY2019 earnings at ($11.89) EPS, FY2020 earnings at ($13.16) EPS, FY2021 earnings at ($10.49) EPS and FY2022 earnings at ($8.28) EPS.
Several other analysts have also recently issued reports on the company. Morgan Stanley cut their target price on bluebird bio from $186.00 to $185.00 and set an “equal weight” rating for the company in a research report on Monday, November 5th. Piper Jaffray Companies reiterated a “buy” rating on shares of bluebird bio in a research report on Sunday, November 4th. Janney Montgomery Scott upgraded bluebird bio from a “neutral” rating to a “buy” rating and set a $170.00 target price for the company in a research report on Monday, November 5th. Cowen reiterated a “buy” rating on shares of bluebird bio in a research report on Friday, November 2nd. Finally, Oppenheimer reiterated a “hold” rating on shares of bluebird bio in a research report on Friday, November 2nd. Two investment 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’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $209.74.
bluebird bio (NASDAQ:BLUE) last issued its quarterly earnings results on Thursday, November 1st. The biotechnology company reported ($2.73) EPS for the quarter, topping analysts’ consensus estimates of ($2.90) by $0.17. bluebird bio had a negative return on equity of 31.50% and a negative net margin of 1,326.02%. The business had revenue of $11.50 million during the quarter, compared to analysts’ expectations of $6.90 million. During the same quarter in the prior year, the business posted ($1.73) earnings per share. The business’s quarterly revenue was up 49.2% on a year-over-year basis.
Hedge funds have recently modified their holdings of the company. Stratos Wealth Partners LTD. acquired a new position in shares of bluebird bio in the 3rd quarter valued at about $106,000. NuWave Investment Management LLC increased its stake in shares of bluebird bio by 10,811.1% in the 3rd quarter. NuWave Investment Management LLC now owns 982 shares of the biotechnology company’s stock valued at $143,000 after purchasing an additional 973 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of bluebird bio by 635.0% in the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,154 shares of the biotechnology company’s stock valued at $167,000 after purchasing an additional 997 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in shares of bluebird bio in the 2nd quarter valued at about $201,000. Finally, SG Americas Securities LLC purchased a new position in shares of bluebird bio in the 3rd quarter valued at about $214,000. 98.63% of the stock is owned by institutional investors and hedge funds.
In other news, Director James Mandell sold 1,000 shares of the business’s stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $150.77, for a total value of $150,770.00. Following the completion of the transaction, the director now owns 1,568 shares of the company’s stock, valued at approximately $236,407.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David Davidson sold 5,000 shares of the business’s stock in a transaction dated Friday, November 2nd. The shares were sold at an average price of $133.64, for a total value of $668,200.00. Following the completion of the transaction, the insider now directly owns 29,905 shares of the company’s stock, valued at approximately $3,996,504.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,859 shares of company stock worth $7,159,367. 3.00% of the stock is owned by company insiders.
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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