Wedbush Analysts Raise Earnings Estimates for bluebird bio, Inc. (NASDAQ:BLUE)

bluebird bio, Inc. (NASDAQ:BLUE – Get Rating) – Equities researchers at Wedbush boosted their Q2 2023 earnings estimates for shares of bluebird bio in a research report issued on Tuesday, May 9th. Wedbush analyst D. Nierengarten now forecasts that the biotechnology company will earn ($0.69) per share for the quarter, up from their prior estimate of ($0.76). The consensus estimate for bluebird bio’s current full-year earnings is ($2.50) per share. Wedbush also issued estimates for bluebird bio’s Q3 2023 earnings at ($0.67) EPS, Q4 2023 earnings at ($0.67) EPS, FY2023 earnings at ($1.83) EPS, Q1 2024 earnings at ($0.37) EPS, Q2 2024 earnings at ($0.33) EPS, Q3 2024 earnings at ($0.32) EPS, Q4 2024 earnings at ($0.31) EPS, FY2024 earnings at ($1.32) EPS, FY2025 earnings at ($0.88) EPS and FY2026 earnings at ($0.63) EPS.

bluebird bio (NASDAQ:BLUE – Get Rating) last issued its earnings results on Tuesday, May 9th. The biotechnology company reported $0.21 EPS for the quarter, topping the consensus estimate of ($0.54) by $0.75. The company had revenue of $2.40 million for the quarter, compared to the consensus estimate of $26.97 million. bluebird bio had a negative net margin of 7,411.12% and a negative return on equity of 130.23%. The firm’s revenue for the quarter was up 26.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.66) earnings per share.

A number of other equities research analysts have also weighed in on the company. Morgan Stanley dropped their price target on bluebird bio from $4.00 to $3.00 and set an “underweight” rating on the stock in a research note on Monday, April 3rd. William Blair restated a “market perform” rating on shares of bluebird bio in a report on Wednesday, March 22nd. Bank of America decreased their price objective on bluebird bio from $8.00 to $6.00 and set a “neutral” rating for the company in a research note on Thursday, March 30th. JPMorgan Chase & Co. began coverage on bluebird bio in a research report on Friday, April 28th. They set an “overweight” rating and a $7.00 price target on the stock. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $8.00 price target on shares of bluebird bio in a research note on Thursday, March 30th. Three analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $6.67.

bluebird bio Trading Down 8.6 %

bluebird bio stock opened at $4.34 on Friday. The firm has a market capitalization of $461.70 million, a price-to-earnings ratio of -1.21 and a beta of 0.89. bluebird bio has a 12-month low of $2.78 and a 12-month high of $8.58. The firm has a 50 day moving average of $4.00 and a 200 day moving average of $5.84.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BLUE. Fox Run Management L.L.C. bought a new position in shares of bluebird bio in the third quarter worth about $133,000. Boothbay Fund Management LLC purchased a new position in shares of bluebird bio during the 3rd quarter valued at approximately $518,000. Hennion & Walsh Asset Management Inc. increased its holdings in bluebird bio by 11.1% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 103,139 shares of the biotechnology company’s stock worth $714,000 after acquiring an additional 10,282 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of bluebird bio by 131.3% during the third quarter. Marshall Wace LLP now owns 1,340,806 shares of the biotechnology company’s stock worth $8,488,000 after buying an additional 761,033 shares in the last quarter. Finally, Vontobel Holding Ltd. acquired a new position in shares of bluebird bio during the 3rd quarter valued at about $96,000. 79.01% of the stock is owned by hedge funds and other institutional investors.

bluebird bio Company Profile

(Get Rating)

bluebird bio, Inc is a clinical-stage biotechnology company, which engages in researching, developing and commercializing potentially transformative gene therapies for severe genetic diseases. It also offers ZYNTEGLO or beti-cel and SKYSONA or eli-cel gene therapies. The company was founded by Philippe Leboulch and Ronald C.