Equities Analysts Offer Predictions for BridgeBio Pharma, Inc.’s Q3 2024 Earnings (NASDAQ:BBIO)

BridgeBio Pharma, Inc. (NASDAQ:BBIO) – Stock analysts at Leerink Partnrs decreased their Q3 2024 earnings per share (EPS) estimates for BridgeBio Pharma in a note issued to investors on Monday, October 14th. Leerink Partnrs analyst M. Foroohar now forecasts that the company will post earnings per share of ($0.92) for the quarter, down from their previous forecast of ($0.85). The consensus estimate for BridgeBio Pharma’s current full-year earnings is ($2.56) per share. Leerink Partnrs also issued estimates for BridgeBio Pharma’s Q4 2024 earnings at ($1.35) EPS, FY2024 earnings at ($2.39) EPS, FY2025 earnings at ($1.70) EPS, FY2026 earnings at ($0.95) EPS, FY2027 earnings at $1.94 EPS and FY2028 earnings at $4.65 EPS.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.39) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.61. The firm had revenue of $2.17 million during the quarter, compared to analyst estimates of $3.96 million. During the same period last year, the business earned ($0.98) EPS. The firm’s revenue was up 32.1% on a year-over-year basis.

Other research analysts have also issued research reports about the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $70.00 price target on shares of BridgeBio Pharma in a research report on Monday, September 16th. JPMorgan Chase & Co. lowered their price objective on shares of BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Scotiabank assumed coverage on shares of BridgeBio Pharma in a research note on Wednesday. They set a “sector outperform” rating and a $44.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $43.00 target price on shares of BridgeBio Pharma in a research report on Monday, September 30th. Finally, Evercore ISI reduced their price objective on BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $47.62.

BridgeBio Pharma Trading Up 3.8 %

Shares of NASDAQ BBIO opened at $26.34 on Thursday. The company has a market cap of $4.93 billion, a PE ratio of -8.18 and a beta of 1.08. BridgeBio Pharma has a 12-month low of $21.62 and a 12-month high of $44.32. The stock has a 50 day simple moving average of $26.01 and a 200-day simple moving average of $26.67.

Hedge Funds Weigh In On BridgeBio Pharma

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BBIO. Bfsg LLC lifted its stake in shares of BridgeBio Pharma by 175.6% in the second quarter. Bfsg LLC now owns 1,240 shares of the company’s stock worth $31,000 after buying an additional 790 shares during the last quarter. Headlands Technologies LLC acquired a new position in BridgeBio Pharma during the 2nd quarter worth $48,000. CWM LLC boosted its holdings in BridgeBio Pharma by 132.9% during the third quarter. CWM LLC now owns 3,442 shares of the company’s stock valued at $88,000 after acquiring an additional 1,964 shares during the period. EntryPoint Capital LLC acquired a new stake in shares of BridgeBio Pharma in the first quarter valued at about $117,000. Finally, Amalgamated Bank increased its stake in shares of BridgeBio Pharma by 24.7% in the second quarter. Amalgamated Bank now owns 4,863 shares of the company’s stock worth $123,000 after purchasing an additional 962 shares during the period. Institutional investors and hedge funds own 99.85% of the company’s stock.

Insider Activity

In related news, CFO Brian C. Stephenson sold 4,155 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $24.69, for a total value of $102,586.95. Following the transaction, the chief financial officer now owns 85,192 shares in the company, valued at approximately $2,103,390.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other BridgeBio Pharma news, CFO Brian C. Stephenson sold 4,155 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $24.69, for a total transaction of $102,586.95. Following the transaction, the chief financial officer now directly owns 85,192 shares in the company, valued at $2,103,390.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $149,350,000.00. Following the completion of the sale, the insider now directly owns 25,260,971 shares of the company’s stock, valued at $650,470,003.25. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,831,544 shares of company stock worth $150,128,821 in the last three months. 24.66% of the stock is owned by insiders.

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.