BridgeBio Pharma (NASDAQ:BBIO) Issues Quarterly Earnings Results, Misses Estimates By $0.22 EPS

BridgeBio Pharma (NASDAQ:BBIO) announced its earnings results on Thursday. The company reported ($1.31) earnings per share for the quarter, missing the consensus estimate of ($1.09) by ($0.22), Zacks reports.

BridgeBio Pharma Stock Performance

NASDAQ BBIO opened at $36.81 on Friday. BridgeBio Pharma has a fifty-two week low of $21.62 and a fifty-two week high of $39.47. The business has a 50 day moving average price of $31.71 and a two-hundred day moving average price of $27.85.

Insiders Place Their Bets

In other news, major shareholder Global Investors Lp Viking sold 3,065,616 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $34.90, for a total transaction of $106,989,998.40. Following the completion of the transaction, the insider now directly owns 22,055,375 shares in the company, valued at approximately $769,732,587.50. This represents a 12.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Brian C. Stephenson sold 4,148 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $36.16, for a total value of $149,991.68. Following the transaction, the chief financial officer now owns 102,464 shares of the company’s stock, valued at approximately $3,705,098.24. This trade represents a 3.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,496,239 shares of company stock worth $122,612,036 in the last 90 days. 24.66% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BBIO. Evercore ISI upped their price objective on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, December 23rd. Bank of America upped their price objective on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Scotiabank upped their price objective on shares of BridgeBio Pharma from $48.00 to $49.00 and gave the company a “sector outperform” rating in a research note on Wednesday, February 12th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $49.00 price objective on shares of BridgeBio Pharma in a research note on Thursday, February 13th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.08.

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.