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bluebird bio

bluebird bio Inc is a biotechnology company engaged in researching, developing, and commercializing potentially curative gene therapies for severe genetic diseases based on its proprietary lentiviral vector (LVV) gene addition platform. The Company operates in a single segment, focusing on researching, developing and commercializing potentially transformative gene therapies for severe genetic diseases.

bluebird bio Inc

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Newly released data reveals that seven out of 67 children treated with Bluebird Bio Inc's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLUE#NASDAQ">BLUE</a>) gene therapy for a severe neurological disorder in clinical trials have developed blood cancers.
This marks an increase of four cases since June 2022, when the emergence of three cancer cases led the FDA to convene an advisory panel before approving the therapy, now marketed as Skysona. The STAT News <a target="_blank" href="https://www.statnews.com/2024/10/09/bluebird-bio-gene-therapy-blood-cancer-children/?utm_campaign=rss" rel="noreferrer noopener">report</a> noted that one child passed away due to complications from cancer treatment.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/biotech/24/09/41008825/gene-therapy-focused-bluebird-bio-restructures-cuts-is-workforce-by-25-seeks-to-breakeven-next-ye" rel="noreferrer noopener">Gene Therapy-Focused Bluebird Bio Restructures, Cuts Is Workforce By 25%, Seeks To Breakeven Next Year</a>.
Researchers anticipate more cases of cancer could arise in the coming years and are conducting regular blood tests to monitor the patients.
In September 2022, the FDA approved Bluebird Bio's Skysona, aka eli-cel, to slow the progression of neurologic dysfunction in boys 4-17 years of age with early, active <a target="_blank" href="https://www.benzinga.com/general/biotech/22/09/28905729/fda-just-okayed-bluebird-bios-3m-gene-therapy-for-rare-neurological-disorder-in-boys-what-investo?_gl=1&#x2A;f5q6x4&#x2A;_gcl_au&#x2A;MzM1NjU4Njk2LjE3MjExMjI2MjY.&#x2A;_ga&#x2A;MTA5NjUzODQ1My4xNzIxMTIyNjI2&#x2A;_ga_V7ZK73W7N0&#x2A;MTcyODYzNTY2NS40MDcuMS4xNzI4NjM2NTAyLjAuMC4w" rel="noreferrer noopener">cerebral adrenoleukodystrophy (CALD</a>).
When in December 2023, the FDA approved Bluebird Bio's Lyfgenia (lovotibeglogene autotemcel (lovo-cel)) cell-based gene therapy for sickle cell disease, a black box warning was included in the label for Lyfgenia as hematologic malignancy (blood cancer) occurred in patients <a target="_blank" href="https://www.benzinga.com/general/biotech/23/12/36156713/fda-approves-first-gene-editing-cell-therapy-for-sickle-cell-disease-an-inherited-blood-disorder" rel="noreferrer noopener">treated with Lyfgenia</a>.
In April 2022, Bluebird Bio laid off about <a target="_blank" href="https://www.benzinga.com/general/biotech/22/10/29123370/bluebird-bio-offers-worlds-most-expensive-drugs-but-uncertainty-looms-over-its-financial-future" rel="noreferrer noopener">30% of its workforce</a>. The gene therapy-focused company is showing the exit to nearly one-third of its staff to extend its cash runway into the first half of 2023 and save $160 million over the next two years.&nbsp;
Bluebird plans to reduce its workforce across the second and third quarters of 2022, the company&nbsp;<a target="_blank" href="https://www.sec.gov/ix?doc=/Archives/edgar/data/0001293971/000129397122000023/blue-20220405.htm" rel="noreferrer noopener">revealed in an SEC filing</a>.&nbsp;
The biotech said it&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/22/03/26013864/why-bluebird-bio-shares-are-tumbling-today" rel="noreferrer noopener">planned to spend less than $400 million in 2022</a>.
Price Action: At the last check on Friday, BLUE stock was trading higher by 3.09% to $0.51 premarket.
Read Next:
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Biotech

News

Health Care

Movers

General

BLUE

Worries Mount Over Cancer Risks in Bluebird Bio's Gene Therapy

Ratings for bluebird bio (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLUE#NASDAQ">BLUE</a>) were provided by 5 analysts in the past three months, showcasing a mix of bullish and bearish perspectives.
In the table below, you'll find a summary of their recent ratings, revealing the shifting sentiments over the past 30 days and comparing them to the previous months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $3.8, a high estimate of $6.00, and a low estimate of $2.00. A decline of 26.92% from the prior average price target is evident in the current average. 
<img src="https://www.benzinga.com/files/images/story/2024/1727283614_0.png" alt="price target chart" />
<h2>Understanding Analyst Ratings: A Comprehensive Breakdown</h2>
The analysis of recent analyst actions sheds light on the perception of bluebird bio by financial experts. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Yanan Zhu</td>
<td>Wells Fargo</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$2.00</td>
<td>$3.00</td>
</tr>
<tr>
<td>Jason Gerberry</td>
<td>B of A Securities</td>
<td>Lowers</td>
<td>Buy</td>
<td>$3.00</td>
<td>$4.00</td>
</tr>
<tr>
<td>Luca Issi</td>
<td>RBC Capital</td>
<td>Maintains</td>
<td>Sector Perform</td>
<td>$4.00</td>
<td>$4.00</td>
</tr>
<tr>
<td>Gena Wang</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$4.00</td>
<td>$8.00</td>
</tr>
<tr>
<td>Jack Allen</td>
<td>Baird</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$6.00</td>
<td>$7.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to bluebird bio. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Delving into assessments, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings communicate expectations for the relative performance of bluebird bio compared to the broader market.</li>
<li>Price Targets: Gaining insights, analysts provide estimates for the future value of bluebird bio's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
For valuable insights into bluebird bio's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/BLUE/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on bluebird bio analyst ratings.</a>
If you are interested in following small-cap stock news and performance <a href="https://www.benzinga.com/news/small-cap">you can start by tracking it here</a>.
<h2>Get to Know bluebird bio Better</h2>
bluebird bio Inc is a biotechnology company engaged in researching, developing, and commercializing potentially curative gene therapies for severe genetic diseases based on its proprietary lentiviral vector (LVV) gene addition platform. The Company operates in a single segment, focusing on researching, developing and commercializing potentially transformative gene therapies for severe genetic diseases.
<h3>Financial Milestones: bluebird bio's Journey</h3>
Market Capitalization Highlights: Above the industry average, the company's market capitalization signifies a significant scale, indicating strong confidence and market prominence.
Positive Revenue Trend: Examining bluebird bio's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 680.05% as of 31 March, 2024, showcasing a substantial increase in top-line earnings. When compared to others in the Health Care sector, the company excelled with a growth rate higher than the average among peers.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of -375.84%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): bluebird bio's ROE falls below industry averages, indicating challenges in efficiently using equity capital. With an ROE of -42.88%, the company may face hurdles in generating optimal returns for shareholders.
Return on Assets (ROA): bluebird bio's ROA falls below industry averages, indicating challenges in efficiently utilizing assets. With an ROA of -11.16%, the company may face hurdles in generating optimal returns from its assets.
Debt Management: bluebird bio's debt-to-equity ratio surpasses industry norms, standing at 3.16. This suggests the company carries a substantial amount of debt, posing potential financial challenges.
<h2>The Significance of Analyst Ratings Explained</h2>
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.
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Analyst Ratings

The Analyst Verdict: bluebird bio In The Eyes Of 5 Experts

Wells Fargo analyst Yanan Zhu maintains bluebird bio (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLUE#NASDAQ">BLUE</a>) with a Equal-Weight and lowers the price target from $3 to $2.

Price Target

Wells Fargo Maintains Equal-Weight on bluebird bio, Lowers Price Target to $2

On Tuesday, Bluebird bio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLUE#NASDAQ">BLUE</a>)&nbsp;announced it is implementing a restructuring intended to optimize its cost structure and enable quarterly cash flow break-even in the <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b40998565/bluebird-bio-initiates-restructuring-intended-to-optimize-cost-structure-and-enable-quarterly-cash" rel="noreferrer noopener">second half of 2025</a>.
The restructuring is expected to result in a 20% reduction in cash operating expenses when fully realized in Q3 2025, compared to the prior reporting period.
The initiative includes a reduction in the company&#8217;s workforce of approximately 25%.
The company&#8217;s cash flow break-even target assumes scaling to approximately 40 drug product deliveries per quarter, realizing the 20% reduction in cash operating expenses, and obtaining additional cash resources to extend the company&#8217;s cash runway.
As part of the restructuring, Bluebird plans to focus further on the ongoing commercial launches of LYFGENIA, ZYNTEGLO, and SKYSONA to enable continued launch acceleration while the company evaluates opportunities to increase its cash resources.
In December 2023, the FDA approved Bluebird Bio&#8217;s Lyfgenia as the first cell-based gene therapy for sickle cell disease in&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/23/12/36156713/fda-approves-first-gene-editing-cell-therapy-for-sickle-cell-disease-an-inherited-blood-disorder" rel="noreferrer noopener">patients 12 years and older</a>.&nbsp;
Year-to-date, there have been 41 patient starts across Bluebird&#8217;s portfolio, up from 27 reported in mid-August. bluebird anticipates approximately 40 patient starts in the fourth quarter of 2024.
Price Action: BLUE stock is up 2.82% at $0.50 at last check Tuesday.
Read Next:
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</ul>

Penny Stocks

Gene Therapy-Focused Bluebird Bio Restructures, Cuts Is Workforce By 25%, Seeks To Breakeven Next Year

<ul>
<li>The restructuring is expected to result in a 20% reduction in cash operating expenses when fully realized in Q3 2025, compared to the prior reporting period.</li>
<li>The Company's cash flow break-even target assumes scaling to approximately 40 drug product deliveries per quarter, realizing the 20% reduction in cash operating expenses, and obtaining additional cash resources to extend the Company's cash runway.&nbsp;</li>
</ul>

Bluebird Bio Is Implementing A Restructuring Intended To Optimize Its Cost Structure And Enable Quarterly Cash Flow Break-even In 2H Of 2025, Including Reduction In Workforce Of Approximately 25%

WIIM

Bluebird Bio shares are trading higher after the company announced it entered into a Master Services Agreement for Viral Vector Services with Henogen SRL.

Contracts

Bluebird Bio Says Co And Henogen Sr Entered Into A Master Services Agreement For Viral Vector Services; Henogen Agrees To Manufacture Lentiviral Vector

Cantor Fitzgerald analyst Eric Schmidt reiterates bluebird bio (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLUE#NASDAQ">BLUE</a>) with a Neutral.

Reiteration

Cantor Fitzgerald Reiterates Neutral on bluebird bio

bluebird bio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLUE#NASDAQ">BLUE</a>) today announced that it received notices (the "notices") on August 20, 2024 from The Nasdaq Stock Market LLC ("Nasdaq") stating that because the Company has not yet filed its Quarterly Reports on Form 10-Q for each of the quarters ended March 31, 2024 (the "Q1 2024 Form 10-Q") and June 30, 2024 (the "Q2 2024 Form 10-Q"), it is not in compliance with Nasdaq Listing Rule 5250(c)(1) (the "Rule"), which requires listed companies to timely file all required periodic financial reports with the Securities and Exchange Commission (the "SEC").
The notices have no immediate effect on the listing or trading of the Company's common stock on the Nasdaq.

bluebird bio Recieves Receipt Of Delinquency Notice From Nasdaq; The Notices Have No Immediate Effect On The Listing Or Trading Of The Company's Common Stock On The Nasdaq.

4 analysts have expressed a variety of opinions on bluebird bio (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLUE#NASDAQ">BLUE</a>) over the past quarter, offering a diverse set of opinions from bullish to bearish.
Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
The 12-month price targets, analyzed by analysts, offer insights with an average target of $4.25, a high estimate of $6.00, and a low estimate of $3.00. A decline of 26.09% from the prior average price target is evident in the current average. 
<img src="https://www.benzinga.com/files/images/story/2024/1723752146_0.png" alt="price target chart" />
<h2>Exploring Analyst Ratings: An In-Depth Overview</h2>
In examining recent analyst actions, we gain insights into how financial experts perceive bluebird bio. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Jason Gerberry</td>
<td>B of A Securities</td>
<td>Lowers</td>
<td>Buy</td>
<td>$3.00</td>
<td>$4.00</td>
</tr>
<tr>
<td>Luca Issi</td>
<td>RBC Capital</td>
<td>Maintains</td>
<td>Sector Perform</td>
<td>$4.00</td>
<td>$4.00</td>
</tr>
<tr>
<td>Gena Wang</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$4.00</td>
<td>$8.00</td>
</tr>
<tr>
<td>Jack Allen</td>
<td>Baird</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$6.00</td>
<td>$7.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to bluebird bio. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of bluebird bio compared to the broader market.</li>
<li>Price Targets: Analysts gauge the dynamics of price targets, providing estimates for the future value of bluebird bio's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of bluebird bio's market position. Stay informed and make data-driven decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/BLUE/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on bluebird bio analyst ratings.</a>
If you are interested in following small-cap stock news and performance <a href="https://www.benzinga.com/news/small-cap">you can start by tracking it here</a>.
<h2>Discovering bluebird bio: A Closer Look</h2>
bluebird bio Inc is a biotechnology company engaged in researching, developing, and commercializing potentially curative gene therapies for severe genetic diseases based on its proprietary lentiviral vector (LVV) gene addition platform. The Company operates in a single segment, focusing on researching, developing and commercializing potentially transformative gene therapies for severe genetic diseases.
<h3>bluebird bio: Financial Performance Dissected</h3>
Market Capitalization Perspectives: The company's market capitalization falls below industry averages, signaling a relatively smaller size compared to peers. This positioning may be influenced by factors such as perceived growth potential or operational scale.
Revenue Growth: bluebird bio displayed positive results in 3 months. As of 30 September, 2023, the company achieved a solid revenue growth rate of approximately 17353.52%. This indicates a notable increase in the company's top-line earnings. As compared to its peers, the company achieved a growth rate higher than the average among peers in Health Care sector.
Net Margin: bluebird bio's net margin is below industry averages, indicating potential challenges in maintaining strong profitability. With a net margin of -578.85%, the company may face hurdles in effective cost management.
Return on Equity (ROE): bluebird bio's ROE is below industry standards, pointing towards difficulties in efficiently utilizing equity capital. With an ROE of -28.04%, the company may encounter challenges in delivering satisfactory returns for shareholders.
Return on Assets (ROA): bluebird bio's ROA lags behind industry averages, suggesting challenges in maximizing returns from its assets. With an ROA of -11.23%, the company may face hurdles in achieving optimal financial performance.
Debt Management: bluebird bio's debt-to-equity ratio stands notably higher than the industry average, reaching 1.36. This indicates a heavier reliance on borrowed funds, raising concerns about financial leverage.
<h2>How Are Analyst Ratings Determined?</h2>
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

What 4 Analyst Ratings Have To Say About bluebird bio

bluebird bio shares are trading lower after JP Morgan downgraded the stock from Overweight to Neutral and multiple firms lowered their respective price targets on the stock.

B of A Securities analyst Jason Gerberry maintains bluebird bio (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLUE#NASDAQ">BLUE</a>) with a Buy and lowers the price target from $4 to $3.

B of A Securities Maintains Buy on bluebird bio, Lowers Price Target to $3

RBC Capital analyst Luca Issi reiterates bluebird bio (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLUE#NASDAQ">BLUE</a>) with a Sector Perform and maintains $4 price target.

RBC Capital Reiterates Sector Perform on bluebird bio, Maintains $4 Price Target

Barclays analyst Gena Wang maintains bluebird bio (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLUE#NASDAQ">BLUE</a>) with a Overweight and lowers the price target from $8 to $4.

Barclays Maintains Overweight on bluebird bio, Lowers Price Target to $4

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page.</a>
<ul>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/5bbbbc39211e200001970cde/michael-turrin">Wells Fargo analyst Michael Turrin</a> downgraded the rating for Snowflake Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>) from Overweight to Equal-Weight and lowered the price target from $200 to $130. Snowflake shares gained 0.2% to close at $127.30 on Wednesday. <a href="https://www.benzinga.com/quote/SNOW/analyst-ratings">See how other analysts view this stock.</a></li>
<li>JP Morgan analyst Eric Joseph downgraded the rating for bluebird bio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLUE#NASDAQ">BLUE</a>) from Overweight to Neutral. bluebird bio shares fell 23.1% to close at $0.8149 on Wednesday. <a href="https://www.benzinga.com/quote/BLUE/analyst-ratings">See how other analysts view this stock.</a></li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/5e7353ee5f2b9b00011506f5/peter-galbo">B of A Securities analyst Peter Galbo</a> downgraded Pilgrim&#8217;s Pride Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PPC#NASDAQ">PPC</a>) from Buy to Neutral and maintained the price target of $47. Pilgrims Pride shares gained 3.3% to close at $45.69 on Wednesday. <a href="https://www.benzinga.com/quote/PPC/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Raymond James analyst Adam Tindle downgraded the rating for ScanSource, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SCSC#NASDAQ">SCSC</a>) from Outperform to Market Perform. ScanSource shares fell 0.6% to settle at $48.02 on Wednesday. <a href="https://www.benzinga.com/quote/SCSC/analyst-ratings">See how other analysts view this stock.</a></li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/5e74c9b45f2b9b0001153cf7/anja-soderstrom">Sidoti &amp; Co. analyst Anja Soderstrom</a> downgraded Kimball Electronics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KE#NASDAQ">KE</a>) from Buy to Neutral and announced a price target of $19. Kimball Electronics shares fell 10.6% to close at $18.28 on Wednesday. <a href="https://www.benzinga.com/quote/KE/analyst-ratings">See how other analysts view this stock. See how other analysts view this stock.</a></li>
</ul>
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/08/40368892/jim-cramer-avoid-middle-market-plays-like-golub-capital-buy-mueller-industries-it-is-fan">Jim Cramer: &#8216;Avoid Middle Market Plays&#8217; Like Golub Capital, Buy Mueller Industries — &#8216;It Is Fantastic&#8217;</a></li>
</ul>
Considering buying SNOW stock? Here&#8217;s what analysts think:
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="569" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/15082615/image-116-1024x569.png" alt="" class="wp-image-496699" style="width:513px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/15082615/image-116-1024x569.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/15082615/image-116-300x167.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/15082615/image-116-768x427.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/15082615/image-116.png 1236w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>

Downgrades

Pre-Market Outlook

Markets

Trading Ideas

SCSC

SNOW

This Snowflake Analyst Is No Longer Bullish; Here Are Top 5 Downgrades For Thursday

Baird analyst Jack Allen maintains bluebird bio (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLUE#NASDAQ">BLUE</a>) with a Outperform and lowers the price target from $7 to $6.

Baird Maintains Outperform on bluebird bio, Lowers Price Target to $6

JP Morgan analyst Eric Joseph downgrades bluebird bio (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLUE#NASDAQ">BLUE</a>) from Overweight to Neutral.

JP Morgan Downgrades bluebird bio to Neutral

bluebird bio shares are trading lower. The company reported Q2 financial results.

Earnings

Guidance

bluebird bio Q2 Sales $16.100M Beat $10.661M Estimate, Expects Its Cash And Cash Equivalents Of $193M As Of June 30, 2024 Will Be Sufficient To Fund Its Operations Into The Second Quarter Of 2025

Y-mAbs Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ymab#NASDAQ">YMAB</a>) came out with a quarterly loss of $0.21 per share versus the Zacks Consensus Estimate of a loss of $0.13. This compares to loss of $0.14 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -61.54%. A quarter ago, it was expected that this company would post a loss of $0.12 per share when it actually produced a loss of $0.15, delivering a surprise of -25%.
Over the last four quarters, the company has surpassed consensus EPS estimates just once.
YmAbs Therapeutics, which belongs to the Zacks Medical - Biomedical and Genetics industry, posted revenues of $22.8 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 1.27%. This compares to year-ago revenues of $20.75 million. The company has topped consensus revenue estimates just once over the last four quarters.
The sustainability of the stock&#39;s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management&#39;s commentary on the earnings call.
YmAbs Therapeutics shares have added about 64.4% since the beginning of the year versus the S&amp;P 500&#39;s gain of 12%.
<h2>What&#39;s Next for YmAbs Therapeutics?</h2>
While YmAbs Therapeutics has outperformed the market so far this year, the question that comes to investors&#39; minds is: what&#39;s next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company&#39;s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for YmAbs Therapeutics: mixed. While the magnitude and direction of estimate revisions could change following the company&#39;s just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.13 on $24.93 million in revenues for the coming quarter and -$0.52 on $95.22 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical - Biomedical and Genetics is currently in the top 30% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, Bluebird Bio (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/blue#NASDAQ">BLUE</a>), has yet to report results for the quarter ended June 2024.
This biotechnology company is expected to post quarterly loss of $0.43 per share in its upcoming report, which represents a year-over-year change of +35.8%. The consensus EPS estimate for the quarter has been revised 10.6% higher over the last 30 days to the current level.
Bluebird Bio&#39;s revenues are expected to be $22.19 million, up 222.1% from the year-ago quarter.
<a href="https://www.zacks.com/stock/news/2320437/y-mabs-therapeutics-inc-ymab-reports-q2-loss-misses-revenue-estimates?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_4-2320437">To read this article on Zacks.com click here.</a>

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