SVB Leerink Analysts Lift Earnings Estimates for bluebird bio, Inc. (NASDAQ:BLUE)

bluebird bio, Inc. (NASDAQ:BLUE – Get Rating) – Equities researchers at SVB Leerink increased their Q2 2022 earnings estimates for bluebird bio in a note issued to investors on Tuesday, May 10th. SVB Leerink analyst M. Foroohar now anticipates that the biotechnology company will post earnings per share of ($1.34) for the quarter, up from their prior estimate of ($1.47). SVB Leerink has a “Market Perform” rating and a $8.00 price objective on the stock. SVB Leerink also issued estimates for bluebird bio’s Q3 2022 earnings at ($1.30) EPS, Q4 2022 earnings at ($0.79) EPS, FY2022 earnings at ($4.81) EPS and FY2023 earnings at ($1.80) EPS.

bluebird bio (NASDAQ:BLUE – Get Rating) last posted its earnings results on Monday, May 9th. The biotechnology company reported ($1.66) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.56) by ($0.10). The company had revenue of $1.95 million for the quarter, compared to analyst estimates of $0.17 million. bluebird bio had a negative return on equity of 111.73% and a negative net margin of 2,183.15%. The business’s quarterly revenue was up 117.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($3.07) EPS.

A number of other analysts have also recently issued reports on the stock. Wedbush cut their target price on shares of bluebird bio from $10.00 to $8.00 and set a “neutral” rating for the company in a research note on Tuesday. StockNews.com initiated coverage on shares of bluebird bio in a research note on Thursday, March 31st. They set a “sell” rating for the company. Morgan Stanley lowered their price target on shares of bluebird bio from $6.00 to $5.00 and set an “underweight” rating on the stock in a research report on Monday, March 7th. Barclays lowered their price target on shares of bluebird bio from $4.00 to $3.00 in a research report on Tuesday. Finally, Wells Fargo & Company lowered their price target on shares of bluebird bio from $12.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 8th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, bluebird bio presently has a consensus rating of “Hold” and an average price target of $12.14.

NASDAQ BLUE opened at $3.57 on Thursday. The firm has a 50-day moving average of $4.42 and a 200-day moving average of $8.06. The stock has a market cap of $255.09 million, a PE ratio of -0.34 and a beta of 1.63. bluebird bio has a 52-week low of $3.11 and a 52-week high of $35.59.

Hedge funds have recently added to or reduced their stakes in the business. Rafferty Asset Management LLC increased its holdings in bluebird bio by 116.4% in the 3rd quarter. Rafferty Asset Management LLC now owns 174,274 shares of the biotechnology company’s stock valued at $3,330,000 after buying an additional 93,739 shares during the period. SG Americas Securities LLC grew its holdings in shares of bluebird bio by 15.0% during the 3rd quarter. SG Americas Securities LLC now owns 41,926 shares of the biotechnology company’s stock valued at $801,000 after purchasing an additional 5,464 shares during the last quarter. Denali Advisors LLC bought a new stake in shares of bluebird bio during the 4th quarter valued at approximately $101,000. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of bluebird bio during the 3rd quarter valued at approximately $342,000. Finally, UBS Asset Management Americas Inc. grew its holdings in shares of bluebird bio by 5.0% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 69,696 shares of the biotechnology company’s stock valued at $1,332,000 after purchasing an additional 3,298 shares during the last quarter. 96.38% of the stock is currently owned by hedge funds and other institutional investors.

bluebird bio Company Profile (Get Rating)

bluebird bio, Inc, a biotechnology company, researches, develops, and commercializes transformative gene therapies for severe genetic diseases. Its product candidates for severe genetic diseases include betibeglogene autotemcel for the treatment of transfusion-dependent ß-thalassemia; lovotibeglogene autotemcel for the treatment of sickle cell disease (SCD); and elivaldogene autotemcel to treat cerebral adrenoleukodystrophy.

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