Bluebird Bio (BLUE) closed at $91.77 in the latest trading session, marking a +1.75% move from the prior day. This move outpaced the S&P 500's daily gain of 0.49%. At the same time, the Dow added 0.57%, and the tech-heavy Nasdaq gained 0.67%.
Prior to today's trading, shares of the biotechnology company had gained 5.25% over the past month. This has outpaced the Medical sector's gain of 0.98% and the S&P 500's gain of 3.03% in that time.
BLUE will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$3.79, down 39.34% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $9.65 million, down 49.86% from the year-ago period.
Investors should also note any recent changes to analyst estimates for BLUE. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.41% lower within the past month. BLUE is holding a Zacks Rank of #3 (Hold) right now.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 59, which puts it in the top 24% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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