Leerink Partnrs Analysts Lift Earnings Estimates for BridgeBio Pharma, Inc. (NASDAQ:BBIO)

BridgeBio Pharma, Inc. (NASDAQ:BBIO) – Leerink Partnrs lifted their Q3 2024 earnings per share (EPS) estimates for BridgeBio Pharma in a research note issued to investors on Tuesday, September 10th. Leerink Partnrs analyst M. Foroohar now forecasts that the company will post earnings of ($0.85) per share for the quarter, up from their previous estimate of ($0.86). The consensus estimate for BridgeBio Pharma’s current full-year earnings is ($2.49) per share. Leerink Partnrs also issued estimates for BridgeBio Pharma’s Q4 2024 earnings at ($1.14) EPS, FY2024 earnings at ($2.03) EPS, FY2025 earnings at ($1.68) EPS, FY2026 earnings at ($1.20) EPS, FY2027 earnings at $1.00 EPS and FY2028 earnings at $3.19 EPS.

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

BBIO has been the subject of several other research reports. UBS Group decreased their price target on BridgeBio Pharma from $51.00 to $47.00 and set a “buy” rating for the company in a report on Tuesday, May 28th. HC Wainwright reiterated a “buy” rating and set a $43.00 price target on shares of BridgeBio Pharma in a report on Tuesday, September 3rd. Cantor Fitzgerald reiterated an “overweight” rating and set a $70.00 price target on shares of BridgeBio Pharma in a report on Monday, September 9th. Evercore ISI decreased 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, Piper Sandler started coverage on BridgeBio Pharma in a report on Wednesday, September 4th. They set an “overweight” rating and a $46.00 price target for the company. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $47.92.

BridgeBio Pharma Stock Down 2.9 %

NASDAQ BBIO opened at $26.18 on Friday. The company has a market cap of $4.90 billion, a price-to-earnings ratio of -8.13 and a beta of 1.07. BridgeBio Pharma has a 52 week low of $21.62 and a 52 week high of $44.32. The business has a 50 day moving average price of $26.50 and a 200-day moving average price of $27.42.

Insiders Place Their Bets

In other BridgeBio Pharma news, CFO Brian C. Stephenson sold 4,155 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $24.69, for a total value of $102,586.95. Following the transaction, the chief financial officer now directly owns 85,192 shares in the company, valued at approximately $2,103,390.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Brian C. Stephenson sold 4,155 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $24.69, for a total transaction of $102,586.95. Following the transaction, the chief financial officer now directly owns 85,192 shares in the company, valued at approximately $2,103,390.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Neil Kumar sold 27,389 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $24.69, for a total value of $676,234.41. Following the transaction, the chief executive officer now owns 4,897,443 shares in the company, valued at $120,917,867.67. The disclosure for this sale can be found here. Corporate insiders own 24.66% of the company’s stock.

Hedge Funds Weigh In On BridgeBio Pharma

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Quarry LP lifted its holdings in BridgeBio Pharma by 27.1% in the 2nd quarter. Quarry LP now owns 7,500 shares of the company’s stock worth $190,000 after buying an additional 1,600 shares during the period. Frazier Life Sciences Management L.P. raised its stake in BridgeBio Pharma by 6.4% during the second quarter. Frazier Life Sciences Management L.P. now owns 3,632,604 shares of the company’s stock valued at $92,014,000 after buying an additional 217,000 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in BridgeBio Pharma during the second quarter valued at $4,251,000. Lion Point Capital LP purchased a new position in BridgeBio Pharma during the second quarter valued at $1,241,000. Finally, The Manufacturers Life Insurance Company raised its stake in BridgeBio Pharma by 40.5% during the second quarter. The Manufacturers Life Insurance Company now owns 1,534,972 shares of the company’s stock valued at $38,881,000 after buying an additional 442,248 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors.

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.