Brokerages Anticipate Bellus Health Inc. (NYSE:BLU) Will Post Quarterly Sales of $10,000.00

Brokerages expect Bellus Health Inc. (NYSE:BLU) to announce $10,000.00 in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Bellus Health’s earnings. The lowest sales estimate is $0.00 and the highest is $10,000.00. Bellus Health also posted sales of $10,000.00 in the same quarter last year. The business is expected to report its next earnings results on Thursday, November 12th.

According to Zacks, analysts expect that Bellus Health will report full year sales of $20,000.00 for the current fiscal year, with estimates ranging from $20,000.00 to $30,000.00. For the next fiscal year, analysts forecast that the business will post sales of $20,000.00, with estimates ranging from $20,000.00 to $30,000.00. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Bellus Health.

Bellus Health (NYSE:BLU) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.14) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.17) by $0.03.

Several brokerages recently commented on BLU. Zacks Investment Research raised shares of Bellus Health from a “hold” rating to a “buy” rating and set a $2.75 price objective for the company in a research note on Monday, September 7th. HC Wainwright dropped their price target on shares of Bellus Health from $28.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, August 14th. TheStreet downgraded shares of Bellus Health from a “c-” rating to a “d” rating in a research note on Monday, June 1st. Robert W. Baird dropped their price target on shares of Bellus Health from $14.00 to $6.00 and set an “outperform” rating for the company in a research note on Tuesday, July 7th. Finally, Guggenheim downgraded shares of Bellus Health from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 7th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Bellus Health has a consensus rating of “Buy” and a consensus price target of $9.49.

NYSE:BLU traded up $0.04 on Friday, hitting $2.43. The company had a trading volume of 549,542 shares, compared to its average volume of 1,818,331. The firm has a 50 day moving average of $2.53 and a two-hundred day moving average of $7.20. Bellus Health has a 52 week low of $2.17 and a 52 week high of $12.03.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Bellus Health during the second quarter worth $61,000. Morgan Stanley raised its stake in Bellus Health by 23,075.1% during the first quarter. Morgan Stanley now owns 549,018 shares of the company’s stock worth $5,479,000 after buying an additional 546,649 shares during the last quarter. Janus Henderson Group PLC raised its stake in Bellus Health by 307.1% during the first quarter. Janus Henderson Group PLC now owns 138,793 shares of the company’s stock worth $1,385,000 after buying an additional 104,703 shares during the last quarter. Ensign Peak Advisors Inc raised its stake in Bellus Health by 101.4% during the second quarter. Ensign Peak Advisors Inc now owns 40,590 shares of the company’s stock worth $418,000 after buying an additional 20,433 shares during the last quarter. Finally, Bank of Montreal Can raised its stake in Bellus Health by 3,469.4% during the second quarter. Bank of Montreal Can now owns 566,213 shares of the company’s stock worth $1,750,000 after buying an additional 550,350 shares during the last quarter.

About Bellus Health

BELLUS Health Inc, a clinical-stage biopharmaceutical company, develops novel therapeutics for conditions with high unmet medical need. Its lead drug candidate includes BLU-5937, a small molecule antagonist of the P2X3 receptor for chronic cough. The company also has economic interests in various partnered development stage programs, including KIACTA for the treatment of sarcoidosis; AMO-01 for treatment of Phelan McDermid syndrome; and ALZ-801 for APOE4 homozygous Alzheimer's disease.

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