It has been about a month since the last earnings report for Bluebird Bio (BLUE). Shares have added about 3.5% 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 the most recent earnings report in order to get a better handle on the important drivers.
bluebird Q1 Loss Wider Than Expected, Revenues Beat
bluebird reported a loss of $3.07 per share for first-quarter 2021, wider than the Zacks Consensus Estimate of a loss of $3.05 but narrower than the year-ago quarter’s loss of $3.64.
Revenues of $12.8 million beat the Zacks Consensus Estimate of $11 million. The top line, however, declined 41.5% year over year due to a decrease in ide-cel license and manufacturing services revenues.
Quarter in Detail
Research and development expenses increased to $154.5 million from $154.1 million recorded a year ago due to higher costs incurred through the amended collaboration with Bristol Myers.
Selling, general and administrative expenses of $86.9 million were up from $73.2 million in the year-ago quarter due to increased headcount and costs incurred to support the company’s ongoing operations and growth of its pipeline.
How Have Estimates Been Moving Since Then?
It turns out, estimates revision have trended downward during the past month. The consensus estimate has shifted -7.18% due to these changes.
VGM Scores
Currently, Bluebird has a poor Growth Score of F, however its Momentum Score is doing a bit better with a D. Charting a somewhat similar path, the stock was allocated a grade of F on the value side, putting it in the bottom 20% 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 broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Bluebird has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
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