Leerink Partnrs Has Pessimistic View of BBIO FY2024 Earnings

BridgeBio Pharma, Inc. (NASDAQ:BBIO) – Equities research analysts at Leerink Partnrs reduced their FY2024 EPS estimates for BridgeBio Pharma in a research note issued to investors on Sunday, November 24th. Leerink Partnrs analyst M. Foroohar now anticipates that the company will post earnings per share of ($2.54) for the year, down from their previous estimate 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.

Several other research analysts have also recently weighed in on the stock. Leerink Partners dropped 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, October 17th. JPMorgan Chase & Co. dropped their price target on shares of BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Scotiabank lifted 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 note on Monday. Evercore ISI lowered their target price on shares of BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Finally, Piper Sandler initiated coverage on shares of BridgeBio Pharma in a research note on Wednesday, September 4th. They set an “overweight” rating and a $46.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, BridgeBio Pharma presently has a consensus rating of “Moderate Buy” and an average price target of $48.43.

BridgeBio Pharma Price Performance

Shares of BridgeBio Pharma stock opened at $27.49 on Wednesday. The company’s fifty day simple moving average is $25.00 and its 200-day simple moving average is $26.22. The stock has a market capitalization of $5.20 billion, a PE ratio of -11.41 and a beta of 1.09. BridgeBio Pharma has a 1-year low of $21.62 and a 1-year high of $44.32.

Insiders Place Their Bets

In other news, CEO Neil Kumar sold 27,389 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total transaction of $613,787.49. Following the sale, the chief executive officer now directly owns 4,897,443 shares in the company, valued at approximately $109,751,697.63. This represents a 0.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brian C. Stephenson sold 4,156 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total transaction of $93,135.96. Following the sale, the chief financial officer now owns 93,758 shares in the company, valued at $2,101,116.78. This represents a 4.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,831,545 shares of company stock worth $150,056,923 in the last 90 days. 24.66% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BridgeBio Pharma

Hedge funds have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its holdings in BridgeBio Pharma by 22.1% during 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. First Turn Management LLC bought a new position in BridgeBio Pharma during the 3rd quarter valued at about $10,178,000. Jennison Associates LLC bought a new position in BridgeBio Pharma during the 3rd quarter valued at about $767,000. Comerica Bank grew its holdings in BridgeBio Pharma by 3,013.5% during the 1st quarter. Comerica Bank now owns 38,514 shares of the company’s stock valued at $1,191,000 after purchasing an additional 37,277 shares during the last quarter. Finally, Frazier Life Sciences Management L.P. grew its holdings in BridgeBio Pharma by 6.4% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 3,632,604 shares of the company’s stock valued at $92,014,000 after purchasing an additional 217,000 shares during the last quarter. 99.85% of the stock is currently owned by 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.