A month has gone by since the last earnings report for Bluebird Bio (BLUE - Free Report) . Shares have added about 17.4% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Bluebird due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.
bluebird Q1 Earnings and Revenues Beat
bluebird reported a loss of $3.64 per share in first-quarter 2020, narrower than the Zacks Consensus Estimate of a loss of $3.94 but wider than the year-ago quarter's loss of $2.99.
Revenues of $21.8 million easily beat the Zacks Consensus Estimate of $9 million. The figure was up from $12.5 million in the year-ago quarter.
Quarter in Detail
R&D expenses increased to $154.1 million from $122.6 million a year ago due to costs incurred by the company to advance and expand the pipeline.
Selling, general and administrative (SG&A) expenses of $73.2 million were up from $60.3 million in the year-ago quarter to support its operations, overall growth of the pipeline, and commercial-readiness activities.
Pipeline Development
bluebird announced general agreement with the FDA that the clinical data package required to support the BLA submission for LentiGlobin for sickle cell disease (SCD) will be based on data from a portion of patients in the HGB-206 study Group ,who have already been treated. The planned submission will be based on an analysis using complete resolution of severe vaso-occlusive events (VOEs) as the primary endpoint and at least 18 months of follow-up post drug product infusion. Globin response will be used as a key secondary endpoint. The company anticipates additional guidance from the FDA regarding the commercial manufacturing process, including suspension lentiviral vector. The company is planning to seek an accelerated approval and expects to submit the BLA in the second half of 2021.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed an upward trend in fresh estimates. The consensus estimate has shifted 48.18% due to these changes.
VGM Scores
Currently, Bluebird has a poor Growth Score of F, however its Momentum Score is doing a lot better with a C. However, the stock was allocated a grade of F on the value side, putting it in the fifth quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been trending upward for the stock, and the magnitude of these revisions looks promising. It comes with little surprise Bluebird has a Zacks Rank #2 (Buy). We expect an above average return from the stock in the next few months.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
A month has gone by since the last earnings report for Bluebird Bio (BLUE - Free Report) . Shares have added about 17.4% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Bluebird due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.
bluebird Q1 Earnings and Revenues Beat
bluebird reported a loss of $3.64 per share in first-quarter 2020, narrower than the Zacks Consensus Estimate of a loss of $3.94 but wider than the year-ago quarter's loss of $2.99.
Revenues of $21.8 million easily beat the Zacks Consensus Estimate of $9 million. The figure was up from $12.5 million in the year-ago quarter.
Quarter in Detail
R&D expenses increased to $154.1 million from $122.6 million a year ago due to costs incurred by the company to advance and expand the pipeline.
Selling, general and administrative (SG&A) expenses of $73.2 million were up from $60.3 million in the year-ago quarter to support its operations, overall growth of the pipeline, and commercial-readiness activities.
Pipeline Development
bluebird announced general agreement with the FDA that the clinical data package required to support the BLA submission for LentiGlobin for sickle cell disease (SCD) will be based on data from a portion of patients in the HGB-206 study Group ,who have already been treated. The planned submission will be based on an analysis using complete resolution of severe vaso-occlusive events (VOEs) as the primary endpoint and at least 18 months of follow-up post drug product infusion. Globin response will be used as a key secondary endpoint. The company anticipates additional guidance from the FDA regarding the commercial manufacturing process, including suspension lentiviral vector. The company is planning to seek an accelerated approval and expects to submit the BLA in the second half of 2021.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed an upward trend in fresh estimates. The consensus estimate has shifted 48.18% due to these changes.
VGM Scores
Currently, Bluebird has a poor Growth Score of F, however its Momentum Score is doing a lot better with a C. However, the stock was allocated a grade of F on the value side, putting it in the fifth quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been trending upward for the stock, and the magnitude of these revisions looks promising. It comes with little surprise Bluebird has a Zacks Rank #2 (Buy). We expect an above average return from the stock in the next few months.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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