bluebird bio Inc (NASDAQ:BLUE) Expected to Post Earnings of -$3.41 Per Share

Equities analysts expect bluebird bio Inc (NASDAQ:BLUE) to report earnings of ($3.41) per share for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have provided estimates for bluebird bio’s earnings, with the highest EPS estimate coming in at ($2.96) and the lowest estimate coming in at ($3.89). bluebird bio reported earnings of ($2.73) per share in the same quarter last year, which would indicate a negative year over year growth rate of 24.9%. The company is expected to report its next earnings results on Thursday, November 7th.

According to Zacks, analysts expect that bluebird bio will report full-year earnings of ($13.22) per share for the current financial year, with EPS estimates ranging from ($14.42) to ($12.32). For the next year, analysts forecast that the company will report earnings of ($12.99) per share, with EPS estimates ranging from ($16.21) to ($7.16). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover bluebird bio.

bluebird bio (NASDAQ:BLUE) last announced its quarterly earnings data on Thursday, August 1st. The biotechnology company reported ($3.55) EPS for the quarter, missing the consensus estimate of ($3.04) by ($0.51). The company had revenue of $13.30 million for the quarter, compared to analyst estimates of $13.13 million. bluebird bio had a negative return on equity of 35.90% and a negative net margin of 1,158.04%. The business’s quarterly revenue was up 68.4% compared to the same quarter last year. During the same period last year, the business earned ($2.91) EPS.

BLUE has been the subject of several recent analyst reports. SunTrust Banks reduced their price objective on shares of bluebird bio to $174.00 and set a “buy” rating for the company in a research report on Thursday, May 16th. BidaskClub downgraded shares of bluebird bio from a “hold” rating to a “sell” rating in a research report on Friday, August 2nd. Morgan Stanley reduced their price objective on shares of bluebird bio from $143.00 to $136.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 6th. William Blair downgraded shares of bluebird bio from an “outperform” rating to a “market perform” rating in a research report on Monday. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $195.00 price objective on shares of bluebird bio in a research report on Thursday, June 13th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $154.13.

In related news, insider Philip D. Gregory sold 950 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $124.03, for a total value of $117,828.50. Following the sale, the insider now directly owns 31,042 shares in the company, valued at approximately $3,850,139.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Philip D. Gregory sold 850 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $116.93, for a total value of $99,390.50. Following the completion of the sale, the insider now owns 31,192 shares in the company, valued at $3,647,280.56. The disclosure for this sale can be found here. Insiders have sold a total of 12,760 shares of company stock worth $1,628,667 over the last quarter. Company insiders own 3.00% of the company’s stock.

A number of institutional investors have recently made changes to their positions in BLUE. Invesco Ltd. raised its stake in bluebird bio by 898.6% in the 2nd quarter. Invesco Ltd. now owns 1,053,942 shares of the biotechnology company’s stock valued at $134,061,000 after acquiring an additional 948,400 shares during the period. Marshall Wace North America L.P. bought a new stake in shares of bluebird bio during the first quarter valued at about $74,883,000. Norges Bank bought a new stake in shares of bluebird bio during the fourth quarter valued at about $43,816,000. Victory Capital Management Inc. increased its position in shares of bluebird bio by 29.5% during the second quarter. Victory Capital Management Inc. now owns 752,300 shares of the biotechnology company’s stock valued at $95,693,000 after buying an additional 171,555 shares during the period. Finally, Bessemer Group Inc. increased its position in shares of bluebird bio by 477,536.7% during the second quarter. Bessemer Group Inc. now owns 143,291 shares of the biotechnology company’s stock valued at $18,227,000 after buying an additional 143,261 shares during the period.

Shares of BLUE stock opened at $116.72 on Friday. The firm has a market cap of $6.56 billion, a P/E ratio of -10.93 and a beta of 2.25. bluebird bio has a 52 week low of $87.49 and a 52 week high of $176.55. The company has a current ratio of 8.02, a quick ratio of 8.02 and a debt-to-equity ratio of 0.11. The stock’s 50 day moving average is $130.08.

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 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.

Featured Story: Bollinger Bands

Get a free copy of the Zacks research report on bluebird bio (BLUE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for bluebird bio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for bluebird bio and related companies with MarketBeat.com's FREE daily email newsletter.