Equities Analysts Offer Predictions for BBIO FY2024 Earnings

BridgeBio Pharma, Inc. (NASDAQ:BBIO) – Analysts at Leerink Partnrs cut their FY2024 earnings estimates for BridgeBio Pharma in a research report issued on Tuesday, November 12th. Leerink Partnrs analyst M. Foroohar now expects that the company will post earnings per share of ($2.49) for the year, down from their prior 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.

Other analysts have also recently issued reports about the company. Piper Sandler began coverage on BridgeBio Pharma in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $46.00 price target on the stock. JPMorgan Chase & Co. reduced their price target 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. Evercore ISI decreased their price objective on shares of BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Oppenheimer began coverage on BridgeBio Pharma in a report on Thursday, October 3rd. They issued a “market perform” rating for the company. Finally, Bank of America restated a “buy” rating and set a $42.00 price objective on shares of BridgeBio Pharma in a report on Wednesday, September 11th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, BridgeBio Pharma presently has an average rating of “Moderate Buy” and a consensus price target of $47.50.

BridgeBio Pharma Stock Down 2.7 %

Shares of NASDAQ BBIO opened at $24.11 on Friday. The company has a market cap of $4.53 billion, a P/E ratio of -10.00 and a beta of 1.09. BridgeBio Pharma has a 12 month low of $21.62 and a 12 month high of $44.32. The business’s 50 day moving average is $25.78 and its two-hundred day moving average is $26.44.

Insiders Place Their Bets

In other BridgeBio Pharma news, CFO Brian C. Stephenson sold 4,155 shares of BridgeBio Pharma stock in a transaction that occurred on Monday, August 19th. The stock was 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 directly owns 85,192 shares in the company, valued at approximately $2,103,390.48. The trade was a 4.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the business’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 in the company, valued at approximately $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. In the last 90 days, insiders sold 5,831,544 shares of company stock worth $150,128,821. 24.66% of the stock is currently owned by insiders.

Hedge Funds Weigh In On BridgeBio Pharma

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Swiss National Bank raised its holdings in BridgeBio Pharma by 17.0% during the first quarter. Swiss National Bank now owns 206,000 shares of the company’s stock worth $6,370,000 after buying an additional 29,900 shares during the last quarter. ProShare Advisors LLC lifted its position in BridgeBio Pharma by 10.7% in the 1st quarter. ProShare Advisors LLC now owns 33,281 shares of the company’s stock valued at $1,029,000 after acquiring an additional 3,209 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in BridgeBio Pharma by 8.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 35,583 shares of the company’s stock valued at $1,100,000 after purchasing an additional 2,900 shares during the last quarter. Mizuho Markets Americas LLC increased its holdings in BridgeBio Pharma by 15.4% during the 1st quarter. Mizuho Markets Americas LLC now owns 74,309 shares of the company’s stock worth $2,298,000 after purchasing an additional 9,930 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of BridgeBio Pharma by 3.3% in the first quarter. Vanguard Group Inc. now owns 13,222,126 shares of the company’s stock worth $408,828,000 after purchasing an additional 421,832 shares during the last quarter. Institutional investors own 99.85% 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.