What is Leerink Partnrs' Forecast for BBIO FY2024 Earnings?

BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) - Equities researchers at Leerink Partnrs dropped their FY2024 earnings per share (EPS) estimates for shares of BridgeBio Pharma in a research report issued to clients and investors on Sunday, November 24th. Leerink Partnrs analyst M. Foroohar now forecasts that the company will post earnings of ($2.54) per share for the year, down from their previous forecast of ($2.49). 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 ($1.06) EPS, FY2025 earnings at ($2.99) EPS, FY2026 earnings at ($1.71) EPS and FY2028 earnings at $4.73 EPS.

A number of other equities research analysts also recently issued reports on BBIO. Oppenheimer started coverage on shares of BridgeBio Pharma in a research note on Thursday, October 3rd. They set a "market perform" rating on the stock. Scotiabank increased their price target on shares of BridgeBio Pharma from $45.00 to $48.00 and gave the stock a "sector outperform" rating in a research report on Monday. HC Wainwright boosted their price objective on shares of BridgeBio Pharma from $43.00 to $49.00 and gave the company a "buy" rating in a research report on Monday. JPMorgan Chase & Co. cut their target price on BridgeBio Pharma from $46.00 to $43.00 and set an "overweight" rating for the company in a research note on Wednesday, August 7th. Finally, Bank of America boosted their price target on BridgeBio Pharma from $42.00 to $45.00 and gave the stock a "buy" rating in a report on Monday. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, BridgeBio Pharma presently has an average rating of "Moderate Buy" and a consensus target price of $48.43.

BridgeBio Pharma Stock Performance

BBIO opened at $26.44 on Wednesday. The firm has a market cap of $5.00 billion, a P/E ratio of -10.97 and a beta of 1.09. The business's fifty day moving average is $24.97 and its 200-day moving average is $26.21. BridgeBio Pharma has a 52-week low of $21.62 and a 52-week high of $44.32.

Insider Buying and Selling

In other BridgeBio Pharma news, CEO Neil Kumar sold 27,389 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 value of $613,787.49. Following the transaction, the chief executive officer now directly owns 4,897,443 shares of the company's stock, valued at approximately $109,751,697.63. The trade was a 0.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Brian C. Stephenson sold 4,156 shares of the firm'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 sale, the chief financial officer now directly owns 93,758 shares of the company's stock, valued at approximately $2,101,116.78. This trade represents a 4.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,831,545 shares of company stock valued at $150,056,923 over the last 90 days. 24.66% of the stock is owned by insiders.

Institutional Trading of BridgeBio Pharma

Several large investors have recently made changes to their positions in BBIO. Bfsg LLC boosted its holdings in BridgeBio Pharma by 175.6% in the second quarter. Bfsg LLC now owns 1,240 shares of the company's stock worth $31,000 after acquiring an additional 790 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of BridgeBio Pharma in the 2nd quarter worth $48,000. Values First Advisors Inc. acquired a new stake in BridgeBio Pharma in the 3rd quarter valued at $57,000. CWM LLC grew its position in 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 purchasing an additional 1,964 shares during the period. Finally, Advisors Asset Management Inc. increased its stake in BridgeBio Pharma by 56.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 4,576 shares of the company's stock valued at $117,000 after purchasing an additional 1,645 shares in the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

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.

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