Leerink Partnrs Has Pessimistic View of BBIO FY2024 Earnings

BridgeBio Pharma, Inc. (NASDAQ:BBIO) – Equities research analysts at Leerink Partnrs lowered their FY2024 earnings per share (EPS) estimates for shares of BridgeBio Pharma in a research note issued to investors on Tuesday, November 12th. Leerink Partnrs analyst M. Foroohar now anticipates that the company will post earnings of ($2.49) per share for the year, down from their previous forecast 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.

A number of other equities analysts have also issued reports on the stock. HC Wainwright reiterated a “buy” rating and issued a $43.00 target price on shares of BridgeBio Pharma in a research report on Friday, October 25th. Bank of America reiterated a “buy” rating and issued a $42.00 price objective on shares of BridgeBio Pharma in a report on Wednesday, September 11th. Piper Sandler assumed coverage on BridgeBio Pharma in a report on Wednesday, September 4th. They set an “overweight” rating and a $46.00 target price on the stock. Leerink Partners lowered their price target on BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Finally, Evercore ISI cut their price objective on BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, BridgeBio Pharma currently has a consensus rating of “Moderate Buy” and an average price target of $47.57.

BridgeBio Pharma Stock Performance

Shares of BBIO opened at $23.72 on Friday. BridgeBio Pharma has a one year low of $21.62 and a one year high of $44.32. The stock’s fifty day moving average is $25.64 and its 200-day moving average is $26.42. The firm has a market capitalization of $4.48 billion, a price-to-earnings ratio of -9.63 and a beta of 1.09.

Insider Buying and Selling

In other news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the stock in a transaction on 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 owns 25,260,971 shares in the company, valued at $650,470,003.25. This represents a 18.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Neil Kumar sold 27,389 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $24.69, for a total value of $676,234.41. Following the completion of the sale, the chief executive officer now directly owns 4,897,443 shares of the company’s stock, valued at approximately $120,917,867.67. This trade represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,831,544 shares of company stock valued at $150,128,821. 24.66% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On BridgeBio Pharma

Several hedge funds have recently bought and sold shares of the business. Profund Advisors LLC raised its stake in shares of BridgeBio Pharma by 1.1% during the 2nd quarter. Profund Advisors LLC now owns 51,029 shares of the company’s stock worth $1,293,000 after purchasing an additional 555 shares in the last quarter. American International Group Inc. lifted its stake in BridgeBio Pharma by 1.0% in the first quarter. American International Group Inc. now owns 57,491 shares of the company’s stock valued at $1,778,000 after acquiring an additional 565 shares during the last quarter. Bfsg LLC grew its position in 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 acquiring an additional 790 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of BridgeBio Pharma by 17.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,322 shares of the company’s stock worth $135,000 after purchasing an additional 801 shares during the last quarter. Finally, Amalgamated Bank grew its position in shares of BridgeBio Pharma by 24.7% in the second quarter. Amalgamated Bank now owns 4,863 shares of the company’s stock valued at $123,000 after purchasing an additional 962 shares during the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

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.