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

bluebird bio, Inc. (NASDAQ:BLUE) – Analysts at Wedbush reduced their Q1 2024 earnings per share estimates for bluebird bio in a report released on Tuesday, March 26th. Wedbush analyst D. Nierengarten now anticipates that the biotechnology company will post earnings of ($0.69) per share for the quarter, down from their prior estimate of ($0.62). Wedbush has a “Neutral” rating and a $1.68 price objective on the stock. The consensus estimate for bluebird bio’s current full-year earnings is ($1.78) per share. Wedbush also issued estimates for bluebird bio’s Q2 2024 earnings at ($0.69) EPS, Q3 2024 earnings at ($0.58) EPS, Q4 2024 earnings at ($0.50) EPS, FY2024 earnings at ($2.45) EPS, Q1 2025 earnings at ($0.25) EPS, Q2 2025 earnings at ($0.23) EPS, Q3 2025 earnings at ($0.21) EPS, FY2025 earnings at ($0.90) EPS, FY2026 earnings at ($0.57) EPS and FY2028 earnings at ($0.09) EPS.

BLUE has been the subject of a number of other reports. Morgan Stanley upgraded bluebird bio from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $3.00 to $7.00 in a report on Friday, December 8th. HSBC decreased their target price on bluebird bio from $2.31 to $1.02 and set a “reduce” rating on the stock in a research note on Tuesday, March 5th. Wells Fargo & Company decreased their target price on bluebird bio from $4.00 to $3.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $6.00 price target on shares of bluebird bio in a research report on Wednesday. Finally, StockNews.com raised bluebird bio to a “sell” rating in a research report on Friday, December 8th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $5.87.

bluebird bio Trading Up 13.8 %

NASDAQ BLUE opened at $1.37 on Thursday. bluebird bio has a twelve month low of $0.88 and a twelve month high of $5.53. The stock has a fifty day simple moving average of $1.24 and a 200-day simple moving average of $2.28.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Citigroup Inc. grew its stake in bluebird bio by 5.8% during the 3rd quarter. Citigroup Inc. now owns 557,969 shares of the biotechnology company’s stock worth $1,696,000 after buying an additional 30,532 shares during the last quarter. Deutsche Bank AG grew its stake in bluebird bio by 80.8% during the 3rd quarter. Deutsche Bank AG now owns 692,881 shares of the biotechnology company’s stock worth $2,106,000 after buying an additional 309,690 shares during the last quarter. Bleichroeder LP purchased a new position in shares of bluebird bio in the 3rd quarter valued at approximately $2,736,000. Aigen Investment Management LP purchased a new position in shares of bluebird bio in the 3rd quarter valued at approximately $34,000. Finally, Johnson Investment Counsel Inc. purchased a new position in shares of bluebird bio in the 3rd quarter valued at approximately $40,000. Hedge funds and other institutional investors own 87.43% of the company’s stock.

bluebird bio Company Profile

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