HC Wainwright Has Optimistic Outlook of BBIO FY2024 Earnings

BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) - Research analysts at HC Wainwright increased their FY2024 EPS estimates for shares of BridgeBio Pharma in a research note issued on Monday, November 25th. HC Wainwright analyst R. Selvaraju now anticipates that the company will earn ($2.46) per share for the year, up from their previous estimate of ($2.50). HC Wainwright currently has a "Buy" rating and a $49.00 target price on the stock. The consensus estimate for BridgeBio Pharma's current full-year earnings is ($2.56) per share. HC Wainwright also issued estimates for BridgeBio Pharma's Q4 2024 earnings at ($0.99) EPS, Q1 2025 earnings at ($0.83) EPS, Q2 2025 earnings at ($0.93) EPS, Q3 2025 earnings at ($0.93) EPS, Q4 2025 earnings at ($1.02) EPS and FY2025 earnings at ($3.72) EPS.

BBIO has been the subject of a number of other reports. Evercore ISI dropped their price objective on BridgeBio Pharma from $50.00 to $45.00 and set an "outperform" rating for the company in a research note on Wednesday, August 7th. Piper Sandler initiated coverage on BridgeBio Pharma in a research report on Wednesday, September 4th. They issued an "overweight" rating and a $46.00 target price for the company. Cantor Fitzgerald reissued an "overweight" rating and set a $70.00 price target on shares of BridgeBio Pharma in a research report on Monday, September 16th. Scotiabank raised their price objective on shares of BridgeBio Pharma from $45.00 to $48.00 and gave the company a "sector outperform" rating in a research note on Monday. Finally, Oppenheimer initiated coverage on shares of BridgeBio Pharma in a research note on Thursday, October 3rd. They set a "market perform" rating on the stock. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $48.43.

BridgeBio Pharma Stock Up 4.0 %

NASDAQ BBIO traded up $1.05 on Wednesday, reaching $27.49. The stock had a trading volume of 2,489,105 shares, compared to its average volume of 1,923,703. The stock has a fifty day moving average price of $25.00 and a two-hundred day moving average price of $26.22. BridgeBio Pharma has a 12-month low of $21.62 and a 12-month high of $44.32. The firm has a market capitalization of $5.20 billion, a price-to-earnings ratio of -11.41 and a beta of 1.09.

Institutional Trading of BridgeBio Pharma

Several institutional investors have recently modified their holdings of the stock. American International Group Inc. raised its stake in BridgeBio Pharma by 1.0% during the 1st quarter. American International Group Inc. now owns 57,491 shares of the company's stock worth $1,778,000 after acquiring an additional 565 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of BridgeBio Pharma by 22.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 803,956 shares of the company's stock valued at $24,859,000 after purchasing an additional 145,594 shares during the last quarter. California State Teachers Retirement System boosted its position in shares of BridgeBio Pharma by 7.3% in the 1st quarter. California State Teachers Retirement System now owns 105,596 shares of the company's stock valued at $3,265,000 after purchasing an additional 7,153 shares during the period. Comerica Bank grew its stake in BridgeBio Pharma by 3,013.5% during the 1st quarter. Comerica Bank now owns 38,514 shares of the company's stock worth $1,191,000 after buying an additional 37,277 shares during the last quarter. Finally, Zimmer Partners LP increased its position in BridgeBio Pharma by 12.6% during the first quarter. Zimmer Partners LP now owns 73,200 shares of the company's stock worth $2,263,000 after buying an additional 8,200 shares during the period. Hedge funds and other institutional investors own 99.85% of the company's stock.

Insider Activity at BridgeBio Pharma

In related news, CFO Brian C. Stephenson sold 4,156 shares of the business's stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $22.41, for a total transaction of $93,135.96. Following the completion of the sale, the chief financial officer now owns 93,758 shares in the company, valued at $2,101,116.78. The trade was a 4.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the company's 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 completion of 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 disclosure for this sale can be found here. Insiders have sold 5,831,545 shares of company stock valued at $150,056,923 over the last quarter. 24.66% of the stock is owned by insiders.

About BridgeBio Pharma

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.