Cantor Fitzgerald Weighs in on bluebird bio, Inc.’s FY2024 Earnings (NASDAQ:BLUE)

bluebird bio, Inc. (NASDAQ:BLUE) – Research analysts at Cantor Fitzgerald cut their FY2024 earnings estimates for shares of bluebird bio in a note issued to investors on Tuesday, October 1st. Cantor Fitzgerald analyst E. Schmidt now anticipates that the biotechnology company will post earnings of ($1.40) per share for the year, down from their previous estimate of ($1.31). Cantor Fitzgerald currently has a “Neutral” rating on the stock. The consensus estimate for bluebird bio’s current full-year earnings is ($1.57) per share.

A number of other equities analysts also recently issued reports on the company. Barclays lowered their price target on bluebird bio from $8.00 to $4.00 and set an “overweight” rating for the company in a report on Thursday, August 15th. Bank of America dropped their target price on shares of bluebird bio from $4.00 to $3.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $4.00 target price on shares of bluebird bio in a research report on Thursday, August 15th. Robert W. Baird dropped their target price on shares of bluebird bio from $7.00 to $6.00 and set an “outperform” rating on the stock in a research report on Thursday, August 15th. Finally, Wells Fargo & Company dropped their target price on shares of bluebird bio from $3.00 to $2.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 25th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $4.63.

bluebird bio Price Performance

bluebird bio stock opened at $0.57 on Thursday. The stock has a market cap of $62.32 million, a P/E ratio of -0.77 and a beta of 0.75. The company has a fifty day simple moving average of $0.69 and a 200-day simple moving average of $0.93. bluebird bio has a 12-month low of $0.45 and a 12-month high of $5.53. The company has a current ratio of 0.93, a quick ratio of 0.82 and a debt-to-equity ratio of 0.20.

Institutional Investors Weigh In On bluebird bio

Hedge funds have recently added to or reduced their stakes in the company. Allegheny Financial Group LTD purchased a new position in shares of bluebird bio during the 2nd quarter worth approximately $25,000. Enterprise Bank & Trust Co acquired a new position in bluebird bio during the first quarter worth $38,000. China Universal Asset Management Co. Ltd. grew its holdings in bluebird bio by 189.2% during the first quarter. China Universal Asset Management Co. Ltd. now owns 36,580 shares of the biotechnology company’s stock worth $47,000 after acquiring an additional 23,933 shares during the period. Sequoia Financial Advisors LLC grew its holdings in bluebird bio by 48.0% during the first quarter. Sequoia Financial Advisors LLC now owns 40,085 shares of the biotechnology company’s stock worth $51,000 after acquiring an additional 13,000 shares during the period. Finally, Bayesian Capital Management LP acquired a new position in bluebird bio during the first quarter worth $52,000. Institutional investors and hedge funds own 87.43% of the company’s stock.

About bluebird bio

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.