Leerink Partnrs Has Negative Outlook of BBIO FY2024 Earnings

BridgeBio Pharma, Inc. (NASDAQ:BBIO) – Research analysts at Leerink Partnrs reduced their FY2024 earnings per share (EPS) estimates for shares of BridgeBio Pharma in a report released on Tuesday, November 12th. Leerink Partnrs analyst M. Foroohar now expects 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.

Other research analysts have also issued reports about the stock. Evercore ISI lowered their target price 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. Oppenheimer began coverage on shares of BridgeBio Pharma in a research report on Thursday, October 3rd. They issued a “market perform” rating on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $70.00 target price on shares of BridgeBio Pharma in a report on Monday, September 16th. Piper Sandler started coverage on shares of BridgeBio Pharma in a research report on Wednesday, September 4th. They set an “overweight” rating and a $46.00 target price for the company. Finally, Bank of America reissued a “buy” rating and set a $42.00 price objective on shares of BridgeBio Pharma in a research note on Wednesday, September 11th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, BridgeBio Pharma currently has an average rating of “Moderate Buy” and a consensus price target of $47.50.

BridgeBio Pharma Price Performance

Shares of BBIO stock opened at $24.11 on Friday. BridgeBio Pharma has a 1-year low of $21.62 and a 1-year high of $44.32. The firm has a market capitalization of $4.53 billion, a PE ratio of -10.00 and a beta of 1.09. The business’s fifty day moving average price is $25.78 and its 200 day moving average price is $26.44.

Insiders Place Their Bets

In other news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was 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 in the company, valued at approximately $650,470,003.25. The trade was a 18.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 completion of the sale, the chief financial officer now directly owns 85,192 shares of the company’s stock, valued at $2,103,390.48. The trade was a 4.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,831,544 shares of company stock valued at $150,128,821 over the last quarter. Company insiders own 24.66% of the company’s stock.

Hedge Funds Weigh In On BridgeBio Pharma

A number of hedge funds have recently added to or reduced their stakes in the business. Bfsg LLC boosted its position 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 during the period. Headlands Technologies LLC acquired a new stake in BridgeBio Pharma during the 2nd quarter worth about $48,000. Values First Advisors Inc. purchased a new position in BridgeBio Pharma during the third quarter valued at approximately $57,000. CWM LLC grew its holdings in shares of BridgeBio Pharma by 132.9% during the 3rd quarter. CWM LLC now owns 3,442 shares of the company’s stock valued at $88,000 after acquiring an additional 1,964 shares in the last quarter. Finally, EntryPoint Capital LLC purchased a new stake in shares of BridgeBio Pharma during the 1st quarter worth about $117,000. Institutional investors and hedge funds own 99.85% 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.