BBIO FY2024 EPS Estimate Reduced by Cantor Fitzgerald

BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) - Analysts at Cantor Fitzgerald lowered their FY2024 earnings per share estimates for shares of BridgeBio Pharma in a research report issued to clients and investors on Wednesday, November 13th. Cantor Fitzgerald analyst J. Schimmer now forecasts that the company will post earnings per share of ($2.63) for the year, down from their previous estimate of ($2.05). Cantor Fitzgerald has a "Overweight" rating and a $70.00 price target on the stock. The consensus estimate for BridgeBio Pharma's current full-year earnings is ($2.58) per share.

A number of other equities analysts have also recently issued reports on the company. Bank of America reiterated a "buy" rating and set a $42.00 target price on shares of BridgeBio Pharma in a report on Wednesday, September 11th. Piper Sandler assumed coverage on BridgeBio Pharma in a report on Wednesday, September 4th. They set an "overweight" rating and a $46.00 target price for the company. Leerink Partners decreased their price objective on BridgeBio Pharma from $47.00 to $46.00 and set an "outperform" rating for the company in a report on Thursday, October 17th. JPMorgan Chase & Co. decreased their price objective on BridgeBio Pharma from $46.00 to $43.00 and set an "overweight" rating for the company in a report on Wednesday, August 7th. Finally, Scotiabank raised their price objective on BridgeBio Pharma from $44.00 to $45.00 and gave the company a "sector outperform" rating in a report on Friday. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $47.57.

BridgeBio Pharma Price Performance

BBIO stock traded down $1.37 during trading hours on Monday, reaching $22.35. 3,184,092 shares of the stock were exchanged, compared to its average volume of 1,853,274. The firm's 50-day moving average is $25.33 and its 200-day moving average is $26.37. The company has a market cap of $4.22 billion, a price-to-earnings ratio of -9.27 and a beta of 1.09. BridgeBio Pharma has a 12 month low of $21.62 and a 12 month high of $44.32.

Insider Activity at BridgeBio Pharma

In related news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of BridgeBio Pharma stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $25.75, for a total value of $149,350,000.00. Following the transaction, the insider now directly owns 25,260,971 shares of the company's stock, valued at $650,470,003.25. This trade represents a 18.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 24.66% of the stock is currently owned by insiders.

Institutional Trading of BridgeBio Pharma

A number of hedge funds and other institutional investors have recently modified their holdings of BBIO. Janus Henderson Group PLC grew its stake in shares of BridgeBio Pharma by 189.7% during the first quarter. Janus Henderson Group PLC now owns 3,312,706 shares of the company's stock worth $102,402,000 after buying an additional 2,169,143 shares during the last quarter. Capital Research Global Investors grew its stake in shares of BridgeBio Pharma by 101.1% in the first quarter. Capital Research Global Investors now owns 2,212,085 shares of the company's stock worth $68,398,000 after purchasing an additional 1,111,975 shares during the last quarter. Ensign Peak Advisors Inc grew its stake in shares of BridgeBio Pharma by 44.5% in the second quarter. Ensign Peak Advisors Inc now owns 1,646,202 shares of the company's stock worth $41,698,000 after purchasing an additional 506,845 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of BridgeBio Pharma by 40.5% in the second quarter. The Manufacturers Life Insurance Company now owns 1,534,972 shares of the company's stock worth $38,881,000 after purchasing an additional 442,248 shares during the last quarter. Finally, Emerald Advisers LLC grew its stake in shares of BridgeBio Pharma by 65.6% in the third quarter. Emerald Advisers LLC now owns 1,103,508 shares of the company's stock worth $28,095,000 after purchasing an additional 437,164 shares during the last quarter. Institutional investors own 99.85% 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.