HC Wainwright Has Optimistic Outlook of BBIO FY2024 Earnings

BridgeBio Pharma, Inc. (NASDAQ:BBIO) – Analysts at HC Wainwright raised their FY2024 earnings estimates for BridgeBio Pharma in a research report issued on Monday, November 25th. HC Wainwright analyst R. Selvaraju now anticipates that the company will post earnings per share of ($2.46) for the year, up from their previous estimate of ($2.50). HC Wainwright currently has a “Buy” rating and a $49.00 target price on the stock. The consensus estimate for BridgeBio Pharma’s current full-year earnings is ($2.56) per share. HC Wainwright also issued estimates for BridgeBio Pharma’s Q4 2024 earnings at ($0.99) EPS, Q1 2025 earnings at ($0.83) EPS, Q2 2025 earnings at ($0.93) EPS, Q3 2025 earnings at ($0.93) EPS, Q4 2025 earnings at ($1.02) EPS and FY2025 earnings at ($3.72) EPS.

Other equities analysts also recently issued reports about the stock. JPMorgan Chase & Co. decreased 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 target price 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. Leerink Partners reduced their target price 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. Bank of America lifted their target price on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Oppenheimer began coverage on shares of BridgeBio Pharma in a research note on Thursday, October 3rd. They set a “market perform” rating on the stock. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, BridgeBio Pharma presently has an average rating of “Moderate Buy” and a consensus price target of $48.43.

BridgeBio Pharma Trading Up 4.0 %

NASDAQ:BBIO opened at $27.49 on Wednesday. The company’s 50-day moving average price is $25.00 and its 200-day moving average price is $26.22. The company has a market cap of $5.20 billion, a P/E ratio of -11.41 and a beta of 1.09. BridgeBio Pharma has a twelve month low of $21.62 and a twelve month high of $44.32.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in BBIO. Bfsg LLC grew its holdings in BridgeBio Pharma by 175.6% during 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 purchased a new stake in shares of BridgeBio Pharma during the 2nd quarter worth approximately $48,000. Values First Advisors Inc. purchased a new stake in shares of BridgeBio Pharma during the 3rd quarter worth approximately $57,000. CWM LLC lifted its position in shares of BridgeBio Pharma by 132.9% during the 3rd quarter. CWM LLC now owns 3,442 shares of the company’s stock worth $88,000 after buying an additional 1,964 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its position in shares of BridgeBio Pharma by 56.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 4,576 shares of the company’s stock worth $117,000 after buying an additional 1,645 shares during the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

Insider Activity at BridgeBio Pharma

In related news, CEO Neil Kumar sold 27,389 shares of BridgeBio Pharma stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total value of $613,787.49. Following the completion of the transaction, the chief executive officer now owns 4,897,443 shares in the company, valued at approximately $109,751,697.63. The trade was a 0.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of BridgeBio Pharma 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 transaction, the insider now owns 25,260,971 shares of the company’s stock, valued at $650,470,003.25. This trade represents a 18.67 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,831,545 shares of company stock worth $150,056,923. Corporate 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.