Leerink Partnrs Has Pessimistic View of BBIO FY2024 Earnings

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

BBIO has been the subject of several other research reports. Oppenheimer started coverage on BridgeBio Pharma in a report on Thursday, October 3rd. They issued a “market perform” rating for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $70.00 price target on shares of BridgeBio Pharma in a research report on Monday, September 16th. JPMorgan Chase & Co. cut 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. Piper Sandler began coverage on shares of BridgeBio Pharma in a research note on Wednesday, September 4th. They set an “overweight” rating and a $46.00 price objective for the company. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $43.00 target price on shares of BridgeBio Pharma in a research report on Friday, October 25th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, BridgeBio Pharma currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.57.

BridgeBio Pharma Stock Down 1.6 %

Shares of NASDAQ:BBIO opened at $23.72 on Friday. The business has a fifty day simple moving average of $25.64 and a 200-day simple moving average of $26.42. BridgeBio Pharma has a 52 week low of $21.62 and a 52 week high of $44.32. The company has a market cap of $4.48 billion, a P/E ratio of -9.63 and a beta of 1.09.

Institutional Trading of BridgeBio Pharma

Several hedge funds and other institutional investors have recently bought and sold shares of BBIO. Bfsg LLC grew its position in shares of BridgeBio Pharma by 175.6% in the 2nd 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 acquired a new position in BridgeBio Pharma in the second quarter worth $48,000. Values First Advisors Inc. bought a new stake in BridgeBio Pharma during the third quarter valued at $57,000. CWM LLC raised its holdings in shares of BridgeBio Pharma by 132.9% during the third quarter. CWM LLC now owns 3,442 shares of the company’s stock worth $88,000 after purchasing an additional 1,964 shares during the period. Finally, EntryPoint Capital LLC bought a new position in shares of BridgeBio Pharma in the 1st quarter worth about $117,000. 99.85% of the stock is owned by institutional investors.

Insider Activity

In other news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the firm’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 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 trade represents a 18.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Neil Kumar sold 27,389 shares of BridgeBio Pharma stock in a transaction on Monday, August 19th. The stock was sold at an average price of $24.69, for a total transaction of $676,234.41. Following the completion of the sale, the chief executive officer now owns 4,897,443 shares of the company’s stock, valued at approximately $120,917,867.67. This trade represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,831,544 shares of company stock worth $150,128,821 over the last 90 days. Company insiders own 24.66% 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.