Leerink Partnrs Expects Weaker Earnings for BridgeBio Pharma

BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) - Research analysts at Leerink Partnrs reduced their FY2024 earnings estimates for BridgeBio Pharma in a report issued on Tuesday, November 12th. Leerink Partnrs analyst M. Foroohar now expects that the company will post earnings of ($2.49) per share for the year, down from their previous forecast of ($2.28). The consensus estimate for BridgeBio Pharma's current full-year earnings is ($2.59) per share. Leerink Partnrs also issued estimates for BridgeBio Pharma's Q4 2024 earnings at ($1.02) EPS, FY2025 earnings at ($2.85) EPS, FY2026 earnings at ($1.61) EPS and FY2027 earnings at $1.31 EPS.

Several other research analysts have also commented on the company. HC Wainwright reissued a "buy" rating and issued a $43.00 price target on shares of BridgeBio Pharma in a research report on Friday, October 25th. Piper Sandler started coverage on BridgeBio Pharma in a research report on Wednesday, September 4th. They set an "overweight" rating and a $46.00 price target on the stock. Oppenheimer initiated coverage on shares of BridgeBio Pharma in a report on Thursday, October 3rd. They set a "market perform" rating on the stock. Evercore ISI reduced their price target on BridgeBio Pharma from $50.00 to $45.00 and set an "outperform" rating for the company in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. decreased their target price on BridgeBio Pharma from $46.00 to $43.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $47.57.

BridgeBio Pharma Stock Performance

BridgeBio Pharma stock traded down $0.39 during trading hours on Friday, hitting $23.72. The company had a trading volume of 2,779,480 shares, compared to its average volume of 1,847,474. The firm has a market cap of $4.48 billion, a P/E ratio of -9.63 and a beta of 1.09. The company has a 50-day moving average price of $25.64 and a two-hundred day moving average price of $26.42. BridgeBio Pharma has a 1 year low of $21.62 and a 1 year high of $44.32.

Insider Activity

In other news, CEO Neil Kumar sold 27,389 shares of the company's stock in a transaction on Monday, August 19th. The stock was sold at an average price of $24.69, for a total transaction of $676,234.41. Following the transaction, the chief executive officer now owns 4,897,443 shares of the company's stock, valued at $120,917,867.67. This represents a 0.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the company's stock in a transaction dated Friday, September 13th. The stock was 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 owns 25,260,971 shares in the company, valued at $650,470,003.25. This represents a 18.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,831,544 shares of company stock worth $150,128,821. Corporate insiders own 24.66% of the company's stock.

Hedge Funds Weigh In On BridgeBio Pharma

Several hedge funds have recently made changes to their positions in BBIO. Profund Advisors LLC boosted its holdings in shares of BridgeBio Pharma by 1.1% in the second quarter. Profund Advisors LLC now owns 51,029 shares of the company's stock worth $1,293,000 after buying an additional 555 shares during the last quarter. American International Group Inc. boosted its position in shares of BridgeBio Pharma by 1.0% during the first quarter. American International Group Inc. now owns 57,491 shares of the company's stock valued at $1,778,000 after buying an additional 565 shares during the period. Bfsg LLC lifted its holdings in BridgeBio Pharma by 175.6% during the 2nd quarter. Bfsg LLC now owns 1,240 shares of the company's stock valued at $31,000 after buying an additional 790 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of BridgeBio Pharma by 17.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,322 shares of the company's stock worth $135,000 after buying an additional 801 shares in the last quarter. Finally, Amalgamated Bank lifted its holdings in BridgeBio Pharma by 24.7% during the second quarter. Amalgamated Bank now owns 4,863 shares of the company's stock worth $123,000 after buying an additional 962 shares during the period. 99.85% of the stock is owned by hedge funds and other institutional investors.

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.