Bluebird Bio (BLUE) Reports Q1 Loss, Lags Revenue Estimates
Written by Emily J. Thompson, Senior Investment Analyst
Source: NASDAQ.COM
Quarterly Performance: Bluebird Bio reported a quarterly loss of $2.66 per share, which was better than the expected loss of $3.60, and showed improvement from a loss of $7.20 per share a year ago; however, revenues of $38.71 million fell short of estimates by 17.98%.
Market Outlook: The stock has underperformed with a 60.3% decline this year, and its future performance will depend on management's commentary and earnings estimate revisions, currently holding a Zacks Rank #3 (Hold) indicating expected market performance.
Analyst Views on IRD
Wall Street analysts forecast IRD stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for IRD is 8.00 USD with a low forecast of 6.00 USD and a high forecast of 9.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
6 Analyst Rating
6 Buy
0 Hold
0 Sell
Strong Buy
Current: 2.080
Low
6.00
Averages
8.00
High
9.00
Current: 2.080
Low
6.00
Averages
8.00
High
9.00
About IRD
Opus Genetics, Inc. is a clinical-stage ophthalmic biotechnology company. The Company is engaged in developing gene therapies for the treatment of inherited retinal diseases (IRDs) and other types of therapies for additional ophthalmic disorders. The Company’s pipeline includes adeno-associated virus (AAV)-based investigational gene therapies that address mutations in genes that cause different forms of bestrophinopathy, Leber congenital amaurosis (LCA) and retinitis pigmentosa. Its pipeline also includes OPGx-BEST1 investigational gene therapy, designed to address mutations in the BEST1 gene, which is associated with retinal degeneration. The pipeline also includes Phentolamine Ophthalmic Solution 0.75%, a non-selective alpha-1 and alpha-2 adrenergic antagonist being investigated to reduce pupil size, and APX3330, a novel small-molecule inhibitor of Ref-1 being investigated to slow the progression of non-proliferative diabetic retinopathy.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
