Equities Analysts Offer Predictions for BBIO FY2024 Earnings

BridgeBio Pharma, Inc. (NASDAQ:BBIO) – Investment analysts at Cantor Fitzgerald reduced their FY2024 EPS estimates for shares of BridgeBio Pharma in a research report issued to clients and investors on Wednesday, November 13th. Cantor Fitzgerald analyst J. Schimmer now forecasts that the company will earn ($2.63) per share for the year, down from their prior forecast of ($2.05). Cantor Fitzgerald currently has a “Overweight” rating and a $70.00 target price on the stock. The consensus estimate for BridgeBio Pharma’s current full-year earnings is ($2.58) per share.

Several other equities research analysts have also commented on the stock. Piper Sandler assumed coverage on shares of BridgeBio Pharma in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $46.00 price objective on the stock. Scotiabank boosted their price objective on shares of BridgeBio Pharma from $44.00 to $45.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 15th. HC Wainwright reiterated a “buy” rating and issued a $43.00 price objective on shares of BridgeBio Pharma in a research report on Friday, October 25th. JPMorgan Chase & Co. decreased their price objective on shares of BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Finally, Evercore ISI decreased their price objective on shares of BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, BridgeBio Pharma currently has a consensus rating of “Moderate Buy” and an average target price of $47.57.

BridgeBio Pharma Stock Up 0.9 %

NASDAQ:BBIO opened at $22.54 on Monday. BridgeBio Pharma has a fifty-two week low of $21.62 and a fifty-two week high of $44.32. The stock has a market cap of $4.26 billion, a PE ratio of -9.35 and a beta of 1.09. The firm’s fifty day simple moving average is $25.18 and its 200-day simple moving average is $26.33.

Institutional Trading of BridgeBio Pharma

Institutional investors and hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD increased its position 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 worth $24,859,000 after purchasing an additional 145,594 shares in the last quarter. Vanguard Group Inc. increased its position in BridgeBio Pharma by 3.3% during the 1st 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 in the last quarter. Comerica Bank grew its position in BridgeBio Pharma by 3,013.5% in the first quarter. Comerica Bank now owns 38,514 shares of the company’s stock valued at $1,191,000 after acquiring an additional 37,277 shares in the last quarter. First Turn Management LLC acquired a new stake in BridgeBio Pharma in the third quarter valued at approximately $10,178,000. Finally, Frazier Life Sciences Management L.P. grew its position in BridgeBio Pharma by 6.4% in 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 acquiring an additional 217,000 shares in the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

Insider Transactions at BridgeBio Pharma

In related news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $25.75, for a total transaction of $149,350,000.00. Following the completion of the sale, the insider now owns 25,260,971 shares of the company’s stock, valued at approximately $650,470,003.25. This represents a 18.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 24.66% of the company’s stock.

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.