HC Wainwright Has Optimistic Outlook of BBIO FY2024 Earnings

BridgeBio Pharma, Inc. (NASDAQ:BBIO) – Research analysts at HC Wainwright increased their FY2024 earnings estimates for shares of BridgeBio Pharma in a research note issued to investors on Monday, November 25th. HC Wainwright analyst R. Selvaraju now expects that the company will earn ($2.46) per share for the year, up from their previous forecast of ($2.50). HC Wainwright has a “Buy” rating and a $49.00 price target on the stock. The consensus estimate for BridgeBio Pharma’s current full-year earnings is ($2.56) per share. HC Wainwright also issued estimates for BridgeBio Pharma’s Q4 2024 earnings at ($0.99) EPS, Q1 2025 earnings at ($0.83) EPS, Q2 2025 earnings at ($0.93) EPS, Q3 2025 earnings at ($0.93) EPS, Q4 2025 earnings at ($1.02) EPS and FY2025 earnings at ($3.72) EPS.

Several other analysts also recently commented on BBIO. Bank of America upped their price target on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Monday. Leerink Partners cut their price objective on shares of BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Oppenheimer began coverage on shares of BridgeBio Pharma in a research report on Thursday, October 3rd. They set a “market perform” rating for the company. Evercore ISI cut their price objective on shares of BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Finally, 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 price objective for the company. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $48.43.

BridgeBio Pharma Price Performance

BBIO stock opened at $27.49 on Wednesday. The company has a fifty day moving average price of $25.00 and a 200 day moving average price of $26.22. BridgeBio Pharma has a 12 month low of $21.62 and a 12 month high of $44.32. The company has a market cap of $5.20 billion, a price-to-earnings ratio of -11.41 and a beta of 1.09.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Bfsg LLC raised its holdings in BridgeBio Pharma by 175.6% in the second quarter. Bfsg LLC now owns 1,240 shares of the company’s stock valued at $31,000 after buying an additional 790 shares during the period. Headlands Technologies LLC acquired a new stake in BridgeBio Pharma in the second quarter valued at approximately $48,000. Values First Advisors Inc. acquired a new stake in BridgeBio Pharma in the third quarter valued at approximately $57,000. CWM LLC grew its position in BridgeBio Pharma by 132.9% in 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 in the last quarter. Finally, Advisors Asset Management Inc. grew its position in shares of BridgeBio Pharma by 56.1% during the third quarter. Advisors Asset Management Inc. now owns 4,576 shares of the company’s stock worth $117,000 after buying an additional 1,645 shares in the last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity 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 dated Friday, September 13th. The shares were sold at an average price of $25.75, for a total transaction of $149,350,000.00. Following the sale, the insider now directly owns 25,260,971 shares of the company’s stock, valued at $650,470,003.25. This trade represents a 18.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brian C. Stephenson sold 4,156 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $22.41, for a total transaction of $93,135.96. Following the sale, the chief financial officer now directly owns 93,758 shares in the company, valued at $2,101,116.78. This represents a 4.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,831,545 shares of company stock valued at $150,056,923. Insiders own 24.66% of the company’s stock.

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.