bluebird bio (NASDAQ:BLUE) announced its quarterly earnings results on Thursday. The biotechnology company reported ($2.73) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.90) by $0.17, Briefing.com reports. The business had revenue of $11.50 million for the quarter, compared to the consensus estimate of $6.90 million. bluebird bio had a negative net margin of 1,281.01% and a negative return on equity of 31.57%. bluebird bio’s revenue for the quarter was up 49.2% on a year-over-year basis. During the same period last year, the company posted ($1.73) EPS.
Shares of NASDAQ BLUE traded up $2.77 during midday trading on Friday, reaching $132.92. The company’s stock had a trading volume of 708,261 shares, compared to its average volume of 936,877. bluebird bio has a fifty-two week low of $102.21 and a fifty-two week high of $236.17. The company has a market capitalization of $6.00 billion, a PE ratio of -17.24 and a beta of 1.88.
Several analysts have commented on BLUE shares. Maxim Group restated a “hold” rating on shares of bluebird bio in a report on Monday, August 6th. BidaskClub downgraded shares of bluebird bio from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 23rd. Goldman Sachs Group downgraded shares of bluebird bio from a “conviction-buy” rating to a “buy” rating in a report on Friday, September 21st. Guggenheim started coverage on shares of bluebird bio in a report on Monday, September 17th. They set a “neutral” rating on the stock. Finally, Morgan Stanley dropped their target price on shares of bluebird bio from $190.00 to $186.00 and set an “equal weight” rating on the stock in a report on Monday, October 15th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $212.84.
In related news, insider Philip D. Gregory sold 1,800 shares of the firm’s stock in a transaction on Monday, August 6th. The shares were sold at an average price of $156.61, for a total value of $281,898.00. Following the completion of the transaction, the insider now directly owns 33,471 shares of the company’s stock, valued at $5,241,893.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jeffrey T. Walsh sold 20,000 shares of the firm’s stock in a transaction on Thursday, August 30th. The shares were sold at an average price of $175.40, for a total transaction of $3,508,000.00. Following the completion of the transaction, the insider now directly owns 44,238 shares of the company’s stock, valued at $7,759,345.20. The disclosure for this sale can be found here. Insiders sold 41,359 shares of company stock worth $6,761,176 over the last quarter. 3.00% of the stock is owned by corporate insiders.
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 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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