FY2024 EPS Estimates for BBIO Cut by Cantor Fitzgerald

BridgeBio Pharma, Inc. (NASDAQ:BBIO) – Equities researchers at Cantor Fitzgerald decreased their FY2024 earnings estimates for BridgeBio Pharma in a report released on Wednesday, November 13th. Cantor Fitzgerald analyst J. Schimmer now expects that the company will post earnings per share of ($2.63) for the year, down from their previous forecast of ($2.05). Cantor Fitzgerald has a “Overweight” rating and a $70.00 price objective on the stock. The consensus estimate for BridgeBio Pharma’s current full-year earnings is ($2.58) per share.

Several other research firms have also recently commented on BBIO. HC Wainwright reiterated a “buy” rating and set a $43.00 target price on shares of BridgeBio Pharma in a research note on Friday, October 25th. Scotiabank increased their target price on BridgeBio Pharma from $44.00 to $45.00 and gave the company a “sector outperform” rating in a research note on Friday, November 15th. Leerink Partners reduced their target price on BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Piper Sandler assumed coverage on BridgeBio Pharma in a research note on Wednesday, September 4th. They set an “overweight” rating and a $46.00 target price for the company. Finally, Bank of America reiterated a “buy” rating and set a $42.00 target price 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 assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $47.57.

BridgeBio Pharma Trading Up 0.9 %

BridgeBio Pharma stock opened at $22.54 on Monday. The stock has a market cap of $4.26 billion, a P/E ratio of -9.35 and a beta of 1.09. The stock has a 50 day moving average of $25.18 and a 200-day moving average of $26.33. BridgeBio Pharma has a 52 week low of $21.62 and a 52 week high of $44.32.

Insider Buying and Selling at BridgeBio Pharma

In other BridgeBio Pharma news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the firm’s 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 sale, the insider now directly owns 25,260,971 shares in the company, valued at approximately $650,470,003.25. This trade represents a 18.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 24.66% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BBIO. Janus Henderson Group PLC increased its holdings in shares of BridgeBio Pharma by 189.7% during the first quarter. Janus Henderson Group PLC now owns 3,312,706 shares of the company’s stock valued at $102,402,000 after purchasing an additional 2,169,143 shares during the period. Capital Research Global Investors increased its holdings in shares of BridgeBio Pharma by 101.1% during the first quarter. Capital Research Global Investors now owns 2,212,085 shares of the company’s stock valued at $68,398,000 after purchasing an additional 1,111,975 shares during the period. Ensign Peak Advisors Inc increased its holdings in shares of BridgeBio Pharma by 44.5% during the second quarter. Ensign Peak Advisors Inc now owns 1,646,202 shares of the company’s stock valued at $41,698,000 after purchasing an additional 506,845 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of BridgeBio Pharma by 40.5% during the second quarter. The Manufacturers Life Insurance Company now owns 1,534,972 shares of the company’s stock valued at $38,881,000 after purchasing an additional 442,248 shares during the period. Finally, Emerald Advisers LLC increased its holdings in shares of BridgeBio Pharma by 65.6% during the third quarter. Emerald Advisers LLC now owns 1,103,508 shares of the company’s stock valued at $28,095,000 after purchasing an additional 437,164 shares during the period. 99.85% of the stock is owned by institutional investors and hedge funds.

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.