Cantor Fitzgerald reissued their sell rating on shares of bluebird bio, Inc. (NASDAQ:BLUE) in a research note released on Monday, July 24th. The brokerage currently has a $39.00 price objective on the biotechnology company’s stock. Cantor Fitzgerald also issued estimates for bluebird bio’s FY2017 earnings at ($6.52) EPS and FY2018 earnings at ($6.64) EPS.
“LentiGlobin R&D, A Costly Endeavor. From 2014 to 2016, LentiGlobin has accounted for approximately $127 million in direct R&D expenditures. While these expenditures for LentiGlobin have been substantial, they remain only a portion of total direct R&D ($240 million) and reported accounting R&D ($401 million). Given the 23 patients dosed with the gene therapy by ASH 2016, LentiGlobin amounted to an expense of $5.5 million per patient dosed. We estimate approximately 127 patients could be required to complete development for these programs, amounting to a cost of ~$700 million. We believe R&D estimates could accelerate and model for a slightly increased burn over future years.”,” the firm’s analyst commented.
Other equities research analysts have also issued reports about the stock. BMO Capital Markets reissued a buy rating and set a $108.00 target price on shares of bluebird bio in a report on Tuesday, June 6th. Maxim Group raised shares of bluebird bio from a hold rating to a buy rating and set a $100.00 target price on the stock in a report on Friday, June 2nd. BTIG Research reissued a buy rating and set a $112.00 target price on shares of bluebird bio in a report on Thursday, June 1st. Standpoint Research initiated coverage on shares of bluebird bio in a report on Tuesday, May 30th. They set a buy rating and a $110.00 target price on the stock. Finally, Janney Montgomery Scott boosted their target price on shares of bluebird bio from $81.00 to $125.00 and gave the stock a buy rating in a report on Wednesday, June 7th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the stock. bluebird bio currently has an average rating of Hold and a consensus price target of $100.66.
Shares of bluebird bio (NASDAQ:BLUE) traded up 4.33% during trading on Monday, reaching $93.95. 553,360 shares of the company’s stock were exchanged. The stock’s market cap is $4.28 billion. bluebird bio has a 52-week low of $37.05 and a 52-week high of $123.75. The stock’s 50 day moving average price is $98.52 and its 200-day moving average price is $90.12.
bluebird bio (NASDAQ:BLUE) last posted its earnings results on Wednesday, August 2nd. The biotechnology company reported ($1.73) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.66) by $0.07. bluebird bio had a negative return on equity of 32.19% and a negative net margin of 1,080.59%. The business had revenue of $16.70 million for the quarter, compared to the consensus estimate of $6.29 million. During the same period in the previous year, the firm earned ($1.59) earnings per share. The company’s revenue was up 977.4% compared to the same quarter last year. On average, equities research analysts forecast that bluebird bio will post ($6.78) EPS for the current year.
In other news, Director Daniel Lynch sold 2,000 shares of the stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $80.00, for a total value of $160,000.00. Following the completion of the sale, the director now owns 3,400 shares in the company, valued at $272,000. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider David Davidson sold 1,000 shares of the stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $90.00, for a total transaction of $90,000.00. Following the completion of the sale, the insider now owns 18,177 shares of the company’s stock, valued at approximately $1,635,930. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 77,856 shares of company stock worth $8,093,145. Corporate insiders own 3.90% of the company’s stock.
A number of institutional investors have recently bought and sold shares of BLUE. Bank of Montreal Can raised its position in bluebird bio by 118.9% in the second quarter. Bank of Montreal Can now owns 1,677 shares of the biotechnology company’s stock valued at $176,000 after buying an additional 911 shares during the last quarter. Turner Investments LLC bought a new position in bluebird bio during the second quarter valued at $184,000. SG Americas Securities LLC raised its position in bluebird bio by 17.9% in the second quarter. SG Americas Securities LLC now owns 1,945 shares of the biotechnology company’s stock valued at $204,000 after buying an additional 295 shares during the last quarter. Affinity Investment Advisors LLC bought a new position in bluebird bio during the second quarter valued at $246,000. Finally, First Mercantile Trust Co. raised its position in bluebird bio by 14.4% in the first quarter. First Mercantile Trust Co. now owns 2,897 shares of the biotechnology company’s stock valued at $263,000 after buying an additional 365 shares during the last quarter.
bluebird bio Company Profile
bluebird bio, Inc is a clinical-stage biotechnology company. The Company is focused on developing gene therapies for severe diseases and cancer. With its lentiviral-based gene therapy and gene editing capabilities, it has built an integrated product platform with various applications in these areas. The Company’s clinical programs in severe genetic diseases include its LentiGlobin product candidate to treat transfusion-dependent b-thalassemia and to treat severe sickle cell disease (SCD) and its Lenti-D product candidate to treat cerebral adrenoleukodystrophy (CALD).
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