Leerink Partnrs Issues Pessimistic Outlook for BBIO Earnings

BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) - Leerink Partnrs lowered their Q3 2024 EPS estimates for BridgeBio Pharma in a report issued on Monday, October 14th. Leerink Partnrs analyst M. Foroohar now expects that the company will post earnings per share of ($0.92) for the quarter, down from their prior estimate of ($0.85). The consensus estimate for BridgeBio Pharma's current full-year earnings is ($2.56) per share. Leerink Partnrs also issued estimates for BridgeBio Pharma's Q4 2024 earnings at ($1.35) EPS, FY2024 earnings at ($2.39) EPS, FY2025 earnings at ($1.70) EPS, FY2026 earnings at ($0.95) EPS, FY2027 earnings at $1.94 EPS and FY2028 earnings at $4.65 EPS.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last released its earnings results on Thursday, August 1st. The company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($1.00) by $0.61. The firm had revenue of $2.17 million during the quarter, compared to the consensus estimate of $3.96 million. During the same period in the prior year, the business earned ($0.98) earnings per share. BridgeBio Pharma's quarterly revenue was up 32.1% compared to the same quarter last year.

A number of other equities research analysts also recently weighed in on BBIO. HC Wainwright restated a "buy" rating and issued a $43.00 price target on shares of BridgeBio Pharma in a research note on Monday, September 30th. Piper Sandler started coverage on shares of BridgeBio Pharma in a research note on Wednesday, September 4th. They issued an "overweight" rating and a $46.00 price target on the stock. Oppenheimer started coverage on shares of BridgeBio Pharma in a research note on Thursday, October 3rd. They issued a "market perform" rating on the stock. Leerink Partners reduced their price target on shares of BridgeBio Pharma from $47.00 to $46.00 and set an "outperform" rating on the stock in a research note on Thursday. Finally, Scotiabank assumed coverage on shares of BridgeBio Pharma in a research note on Wednesday. They issued a "sector outperform" rating and a $44.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, BridgeBio Pharma has an average rating of "Moderate Buy" and an average target price of $47.50.

BridgeBio Pharma Trading Down 0.6 %

BBIO stock traded down $0.15 during mid-day trading on Thursday, hitting $26.19. The stock had a trading volume of 998,618 shares, compared to its average volume of 1,876,872. The firm has a fifty day simple moving average of $26.05 and a 200 day simple moving average of $26.66. BridgeBio Pharma has a 52 week low of $21.62 and a 52 week high of $44.32. The firm has a market capitalization of $4.90 billion, a P/E ratio of -8.13 and a beta of 1.08.

Institutional Trading of BridgeBio Pharma

Several hedge funds have recently modified their holdings of the stock. Creative Planning bought a new stake in shares of BridgeBio Pharma in the 3rd quarter valued at $772,000. CWM LLC increased its stake in shares of BridgeBio Pharma by 132.9% in the 3rd quarter. CWM LLC now owns 3,442 shares of the company's stock valued at $88,000 after acquiring an additional 1,964 shares in the last quarter. Diversified Trust Co increased its stake in shares of BridgeBio Pharma by 3.0% in the 3rd quarter. Diversified Trust Co now owns 36,772 shares of the company's stock valued at $936,000 after acquiring an additional 1,059 shares in the last quarter. Handelsbanken Fonder AB increased its stake in shares of BridgeBio Pharma by 17.7% in the 3rd quarter. Handelsbanken Fonder AB now owns 32,550 shares of the company's stock valued at $829,000 after acquiring an additional 4,900 shares in the last quarter. Finally, Quarry LP increased its stake in BridgeBio Pharma by 27.1% during the 2nd quarter. Quarry LP now owns 7,500 shares of the company's stock valued at $190,000 after purchasing an additional 1,600 shares in the last quarter. Institutional investors own 99.85% of the company's stock.

Insider Transactions at BridgeBio Pharma

In other news, CFO Brian C. Stephenson sold 4,155 shares of the business's stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $24.69, for a total value of $102,586.95. Following the transaction, the chief financial officer now owns 85,192 shares in the company, valued at approximately $2,103,390.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Brian C. Stephenson sold 4,155 shares of BridgeBio Pharma stock in a transaction on Monday, August 19th. The shares were sold at an average price of $24.69, for a total value of $102,586.95. Following the completion of the sale, the chief financial officer now owns 85,192 shares in the company, valued at $2,103,390.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Neil Kumar sold 27,389 shares of BridgeBio Pharma stock in a transaction on Monday, August 19th. The shares were sold at an average price of $24.69, for a total transaction of $676,234.41. Following the completion of the sale, the chief executive officer now owns 4,897,443 shares of the company's stock, valued at $120,917,867.67. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,831,544 shares of company stock worth $150,128,821. Company insiders own 24.66% of the company's stock.

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.