BridgeBio Pharma, Inc. (NASDAQ:BBIO) Forecasted to Post Q3 2024 Earnings of ($0.99) Per Share

BridgeBio Pharma, Inc. (NASDAQ:BBIO) – HC Wainwright lifted their Q3 2024 earnings estimates for BridgeBio Pharma in a research report issued on Monday, August 5th. HC Wainwright analyst R. Selvaraju now anticipates that the company will post earnings of ($0.99) per share for the quarter, up from their previous forecast of ($1.00). HC Wainwright has a “Buy” rating and a $43.00 price objective on the stock. The consensus estimate for BridgeBio Pharma’s current full-year earnings is ($3.20) per share. HC Wainwright also issued estimates for BridgeBio Pharma’s Q4 2024 earnings at ($0.90) EPS, FY2024 earnings at ($2.50) EPS, Q1 2025 earnings at ($0.91) EPS, Q2 2025 earnings at ($0.87) EPS, Q3 2025 earnings at ($0.86) EPS, Q4 2025 earnings at ($0.89) EPS and FY2025 earnings at ($3.53) EPS.

Several other brokerages also recently weighed in on BBIO. Evercore ISI decreased their target price on shares of BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating for the company in a research note on Wednesday. UBS Group decreased their target price on shares of BridgeBio Pharma from $51.00 to $47.00 and set a “buy” rating for the company in a research note on Tuesday, May 28th. JPMorgan Chase & Co. decreased their target price on shares of BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating for the company in a research note on Wednesday. Cantor Fitzgerald restated an “overweight” rating and issued a $70.00 target price on shares of BridgeBio Pharma in a research note on Monday, July 1st. Finally, Bank of America cut their price target on shares of BridgeBio Pharma from $50.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, June 25th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $48.09.

BridgeBio Pharma Trading Up 2.3 %

Shares of BBIO stock opened at $24.48 on Wednesday. The company has a market capitalization of $4.58 billion, a PE ratio of -7.60 and a beta of 1.06. The firm has a fifty day simple moving average of $26.47 and a 200-day simple moving average of $29.04. BridgeBio Pharma has a twelve month low of $21.62 and a twelve month high of $44.32.

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

Institutional Trading of BridgeBio Pharma

A number of institutional investors and hedge funds have recently modified their holdings of the business. American Century Companies Inc. increased its holdings in shares of BridgeBio Pharma by 20.0% in the 2nd quarter. American Century Companies Inc. now owns 1,096,734 shares of the company’s stock worth $27,780,000 after acquiring an additional 182,623 shares during the period. Headlands Technologies LLC acquired a new stake in shares of BridgeBio Pharma in the 2nd quarter worth about $48,000. Daiwa Securities Group Inc. increased its holdings in shares of BridgeBio Pharma by 5,393.7% in the 2nd quarter. Daiwa Securities Group Inc. now owns 35,709 shares of the company’s stock worth $904,000 after acquiring an additional 35,059 shares during the period. Quest Partners LLC acquired a new stake in shares of BridgeBio Pharma in the 2nd quarter worth about $337,000. Finally, Arizona State Retirement System increased its holdings in shares of BridgeBio Pharma by 7.6% in the 2nd quarter. Arizona State Retirement System now owns 30,857 shares of the company’s stock worth $782,000 after acquiring an additional 2,171 shares during the period. 99.85% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other BridgeBio Pharma news, Director Randal W. Scott sold 1,000 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $28.84, for a total transaction of $28,840.00. Following the sale, the director now directly owns 5,500 shares of the company’s stock, valued at $158,620. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 24.66% of the stock is owned by corporate insiders.

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.