$10.20 Million in Sales Expected for bluebird bio Inc (NASDAQ:BLUE) This Quarter

Brokerages expect bluebird bio Inc (NASDAQ:BLUE) to post $10.20 million in sales for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have provided estimates for bluebird bio’s earnings, with the highest sales estimate coming in at $14.16 million and the lowest estimate coming in at $4.02 million. bluebird bio posted sales of $19.24 million during the same quarter last year, which suggests a negative year-over-year growth rate of 47%. The company is scheduled to announce its next earnings report on Thursday, February 20th.

According to Zacks, analysts expect that bluebird bio will report full year sales of $44.03 million for the current financial year, with estimates ranging from $34.00 million to $52.12 million. For the next financial year, analysts expect that the business will report sales of $61.95 million, with estimates ranging from $15.90 million to $124.05 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow bluebird bio.

bluebird bio (NASDAQ:BLUE) last posted its quarterly earnings results on Thursday, October 31st. The biotechnology company reported ($3.73) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($3.54) by ($0.19). The business had revenue of $8.91 million during the quarter, compared to analysts’ expectations of $12.47 million. bluebird bio had a negative return on equity of 42.29% and a negative net margin of 1,326.56%. The firm’s revenue for the quarter was down 22.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($2.73) EPS.

A number of equities analysts have weighed in on BLUE shares. Morgan Stanley set a $100.00 target price on bluebird bio and gave the stock a “hold” rating in a research report on Friday, November 1st. BidaskClub raised shares of bluebird bio from a “strong sell” rating to a “sell” rating in a report on Thursday, November 28th. ValuEngine upgraded shares of bluebird bio from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st. Cowen reissued a “buy” rating on shares of bluebird bio in a report on Friday. Finally, Evercore ISI cut shares of bluebird bio from an “outperform” rating to an “in-line” rating in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $139.86.

Shares of bluebird bio stock traded down $1.23 during trading on Wednesday, hitting $79.42. 935,559 shares of the company’s stock traded hands, compared to its average volume of 657,691. The company has a debt-to-equity ratio of 0.12, a current ratio of 6.22 and a quick ratio of 6.22. bluebird bio has a 1 year low of $71.42 and a 1 year high of $163.43. The stock has a market capitalization of $4.39 billion, a P/E ratio of -7.44 and a beta of 2.16. The business has a 50-day simple moving average of $80.36 and a 200-day simple moving average of $107.05.

In other news, insider David Davidson sold 2,060 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $100.16, for a total value of $206,329.60. Following the transaction, the insider now owns 34,616 shares in the company, valued at approximately $3,467,138.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 2,560 shares of company stock worth $249,085 in the last quarter. Company insiders own 3.00% of the company’s stock.

Several large investors have recently bought and sold shares of the company. California State Teachers Retirement System raised its holdings in bluebird bio by 0.3% in the 3rd quarter. California State Teachers Retirement System now owns 87,794 shares of the biotechnology company’s stock worth $8,061,000 after purchasing an additional 238 shares during the period. Virtu Financial LLC lifted its position in shares of bluebird bio by 158.9% during the 3rd quarter. Virtu Financial LLC now owns 5,263 shares of the biotechnology company’s stock valued at $483,000 after buying an additional 3,230 shares in the last quarter. Boussard & Gavaudan Investment Management LLP purchased a new position in shares of bluebird bio during the 3rd quarter valued at about $1,054,000. State Street Corp grew its stake in shares of bluebird bio by 11.1% during the 3rd quarter. State Street Corp now owns 1,304,238 shares of the biotechnology company’s stock valued at $119,755,000 after acquiring an additional 130,765 shares during the period. Finally, Rational Advisors LLC grew its stake in shares of bluebird bio by 532.3% during the 3rd quarter. Rational Advisors LLC now owns 392 shares of the biotechnology company’s stock valued at $36,000 after acquiring an additional 330 shares during the period.

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 in severe genetic diseases include LentiGlobin, which is in various clinical studies for the treatment of transfusion-dependent ß-thalassemia and severe sickle cell disease; and Lenti-D that is in Phase II/III clinical trials for the treatment of cerebral adrenoleukodystrophy, a rare hereditary neurological disorder.

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