BridgeBio Pharma (NASDAQ:BBIO) Posts Quarterly Earnings Results, Misses Expectations By $0.22 EPS

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) released its quarterly earnings results on Thursday. The company reported ($1.31) EPS for the quarter, missing analysts' consensus estimates of ($1.09) by ($0.22), Zacks reports. The business had revenue of $5.88 million for the quarter, compared to analysts' expectations of $4.04 million.

BridgeBio Pharma Trading Up 0.1 %

Shares of BBIO traded up $0.04 on Friday, reaching $36.85. 2,508,887 shares of the company's stock were exchanged, compared to its average volume of 2,933,085. The stock has a market capitalization of $6.96 billion, a P/E ratio of -15.29 and a beta of 1.07. The business has a 50 day moving average price of $31.90 and a two-hundred day moving average price of $27.93. BridgeBio Pharma has a 12 month low of $21.62 and a 12 month high of $39.47.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Evercore ISI upped their target price on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the stock an "outperform" rating in a research report on Monday, December 23rd. Scotiabank upped their target price on shares of BridgeBio Pharma from $49.00 to $52.00 and gave the stock a "sector outperform" rating in a research report on Friday. Bank of America upped their target price on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the stock a "buy" rating in a research report on Monday, November 25th. Citigroup upped their target price on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the stock a "buy" rating in a research report on Friday. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $95.00 target price on shares of BridgeBio Pharma in a research report on Friday. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $51.67.

Insider Buying and Selling

In other BridgeBio Pharma news, major shareholder Global Investors Lp Viking sold 3,065,616 shares of the company's stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $34.90, for a total value of $106,989,998.40. Following the completion of the sale, the insider now owns 22,055,375 shares of the company's stock, valued at approximately $769,732,587.50. This represents a 12.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Neil Kumar sold 326,932 shares of the company's stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $36.29, for a total transaction of $11,864,362.28. Following the completion of the sale, the chief executive officer now directly owns 5,371,515 shares of the company's stock, valued at $194,932,279.35. The trade was a 5.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,496,239 shares of company stock valued at $122,612,036 over the last ninety days. Insiders own 24.66% of the company's stock.

BridgeBio Pharma Company Profile

BridgeBio Pharma, Inc, a commercial-stage biopharmaceutical company, discovers, creates, tests, and delivers transformative medicines to treat patients who suffer from genetic diseases and cancers. Its products in development programs include AG10, a next-generation oral small molecule near-complete TTR stabilizer that is in Phase 3 clinical trial for the treatment of TTR amyloidosis, or transthyretin amyloid cardiomyopathy (ATTR-CM); low-dose infigratinib, an oral FGFR1-3 selective tyrosine kinase inhibitor, which is in Phase 3 double-blinded, placebo-controlled pivotal study for the treatment option for children with achondroplasia; and BBP-631, an AAV5 gene transfer product candidate that is in Phase 1/2 clinical trial for the treatment of congenital adrenal hyperplasia, or CAH, driven by 21-hydroxylase deficiency, or 21OHD.