FY2024 EPS Forecast for BridgeBio Pharma Reduced by Analyst

BridgeBio Pharma, Inc. (NASDAQ:BBIO) – Stock analysts at Cantor Fitzgerald decreased their FY2024 earnings 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 previous estimate of ($2.05). Cantor Fitzgerald has a “Overweight” rating and a $70.00 price target on the stock. The consensus estimate for BridgeBio Pharma’s current full-year earnings is ($2.58) per share.

BBIO has been the subject of several other research reports. HC Wainwright reaffirmed a “buy” rating and set a $43.00 price objective on shares of BridgeBio Pharma in a research note on Friday, October 25th. Leerink Partners decreased their target price on shares of BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Piper Sandler started coverage on shares of BridgeBio Pharma in a report on Wednesday, September 4th. They issued an “overweight” rating and a $46.00 target price on the stock. Bank of America reiterated a “buy” rating and issued a $42.00 target price on shares of BridgeBio Pharma in a report on Wednesday, September 11th. Finally, JPMorgan Chase & Co. decreased their target price on shares of BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating on the stock in a 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 MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $47.57.

BridgeBio Pharma Trading Down 1.6 %

Shares of NASDAQ BBIO opened at $23.72 on Monday. BridgeBio Pharma has a 12-month low of $21.62 and a 12-month high of $44.32. The stock has a market cap of $4.48 billion, a PE ratio of -9.84 and a beta of 1.09. The company has a 50-day moving average of $25.50 and a 200 day moving average of $26.41.

Insiders Place Their Bets

In other BridgeBio Pharma 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 sale, the insider now directly owns 25,260,971 shares in the company, valued at $650,470,003.25. This represents a 18.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 24.66% of the stock is owned by company insiders.

Institutional Investors Weigh In On BridgeBio Pharma

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of BridgeBio Pharma by 3.3% in the 1st quarter. Vanguard Group Inc. now owns 13,222,126 shares of the company’s stock valued at $408,828,000 after purchasing an additional 421,832 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of BridgeBio Pharma by 11.7% in the 3rd quarter. Janus Henderson Group PLC now owns 4,818,012 shares of the company’s stock valued at $122,658,000 after buying an additional 505,481 shares during the last quarter. Frazier Life Sciences Management L.P. grew its position in shares of BridgeBio Pharma by 3.5% in the 3rd quarter. Frazier Life Sciences Management L.P. now owns 3,760,457 shares of the company’s stock valued at $95,741,000 after buying an additional 127,853 shares during the last quarter. Geode Capital Management LLC grew its position in shares of BridgeBio Pharma by 3.8% in the 3rd quarter. Geode Capital Management LLC now owns 3,413,949 shares of the company’s stock valued at $86,936,000 after buying an additional 123,540 shares during the last quarter. Finally, Capital Research Global Investors grew its position in shares of BridgeBio Pharma by 101.1% in the 1st quarter. Capital Research Global Investors now owns 2,212,085 shares of the company’s stock valued at $68,398,000 after buying an additional 1,111,975 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

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.