Leerink Partnrs Issues Pessimistic Outlook for BBIO Earnings

BridgeBio Pharma, Inc. (NASDAQ:BBIO) – Equities research analysts at Leerink Partnrs dropped their Q4 2024 earnings per share estimates for BridgeBio Pharma in a research report issued on Tuesday, January 21st. Leerink Partnrs analyst M. Foroohar now anticipates that the company will earn ($1.07) per share for the quarter, down from their prior forecast of ($1.06). 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 FY2025 earnings at ($2.77) EPS, FY2026 earnings at ($1.00) EPS, FY2027 earnings at $1.61 EPS, FY2028 earnings at $4.55 EPS and FY2029 earnings at $5.78 EPS.

A number of other research analysts also recently issued reports on the company. 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 report on Thursday, October 17th. Evercore ISI increased their target price on BridgeBio Pharma from $45.00 to $50.00 and gave the company an “outperform” rating in a report on Monday, December 23rd. Bank of America increased their target price on BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 25th. Scotiabank increased their target price on BridgeBio Pharma from $45.00 to $48.00 and gave the company a “sector outperform” rating in a report on Monday, November 25th. Finally, Oppenheimer assumed coverage on BridgeBio Pharma in a report on Thursday, October 3rd. They issued a “market perform” rating on the stock. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, BridgeBio Pharma presently has a consensus rating of “Moderate Buy” and an average price target of $48.08.

BridgeBio Pharma Price Performance

Shares of NASDAQ:BBIO opened at $35.84 on Thursday. The company has a market cap of $6.77 billion, a P/E ratio of -14.87 and a beta of 1.05. BridgeBio Pharma has a 1 year low of $21.62 and a 1 year high of $41.04. The stock’s fifty day moving average price is $28.27 and its 200-day moving average price is $26.74.

Insider Buying and Selling at BridgeBio Pharma

In other BridgeBio Pharma news, CEO Neil Kumar sold 27,389 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total transaction of $613,787.49. Following the completion of the transaction, the chief executive officer now owns 4,897,443 shares of the company’s stock, valued at $109,751,697.63. This represents a 0.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brian C. Stephenson sold 4,156 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total transaction of $93,135.96. Following the transaction, the chief financial officer now directly owns 93,758 shares of the company’s stock, valued at $2,101,116.78. This trade represents a 4.24 % decrease in their position. The disclosure for this sale can be found here. Insiders own 24.66% of the company’s stock.

Institutional Trading of BridgeBio Pharma

Several hedge funds have recently made changes to their positions in BBIO. Janus Henderson Group PLC raised its position in shares of BridgeBio Pharma by 11.7% during the 3rd quarter. Janus Henderson Group PLC now owns 4,818,012 shares of the company’s stock valued at $122,658,000 after buying an additional 505,481 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of BridgeBio Pharma by 40.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,534,972 shares of the company’s stock valued at $38,881,000 after buying an additional 442,248 shares in the last quarter. Emerald Advisers LLC raised its position in shares of BridgeBio Pharma by 65.6% during the 3rd quarter. Emerald Advisers LLC now owns 1,103,508 shares of the company’s stock valued at $28,095,000 after buying an additional 437,164 shares in the last quarter. First Turn Management LLC purchased a new stake in shares of BridgeBio Pharma during the 3rd quarter valued at about $10,178,000. Finally, Emerald Mutual Fund Advisers Trust raised its position in shares of BridgeBio Pharma by 50.8% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 751,355 shares of the company’s stock valued at $19,129,000 after buying an additional 253,101 shares in the last quarter. 99.85% of the stock is currently 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.