Q2 2024 EPS Estimates for BridgeBio Pharma, Inc. (NASDAQ:BBIO) Decreased by HC Wainwright

BridgeBio Pharma, Inc. (NASDAQ:BBIO) – Research analysts at HC Wainwright dropped their Q2 2024 earnings per share (EPS) estimates for shares of BridgeBio Pharma in a research note issued to investors on Monday, May 20th. HC Wainwright analyst R. Selvaraju now expects that the company will post earnings of ($0.99) per share for the quarter, down from their prior forecast of ($0.84). HC Wainwright has a “Buy” rating and a $43.00 price target on the stock. The consensus estimate for BridgeBio Pharma’s current full-year earnings is ($3.24) per share. HC Wainwright also issued estimates for BridgeBio Pharma’s Q3 2024 earnings at ($1.00) EPS, Q4 2024 earnings at ($0.87) EPS, FY2024 earnings at ($3.08) EPS, Q1 2025 earnings at ($0.95) EPS, Q2 2025 earnings at ($0.92) EPS, Q3 2025 earnings at ($0.91) EPS, Q4 2025 earnings at ($0.95) EPS and FY2025 earnings at ($3.72) EPS.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings results on Thursday, February 22nd. The company reported ($0.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.09). The business had revenue of $1.74 million during the quarter, compared to analyst estimates of $4.78 million. During the same period in the prior year, the business earned ($0.92) EPS. The business’s revenue was down 8.4% on a year-over-year basis.

Several other research analysts have also commented on BBIO. Evercore ISI began coverage on shares of BridgeBio Pharma in a research note on Tuesday, May 14th. They set an “outperform” rating and a $50.00 price objective for the company. Raymond James began coverage on shares of BridgeBio Pharma in a research note on Thursday, March 21st. They set an “outperform” rating and a $45.00 price objective for the company. JPMorgan Chase & Co. boosted their price objective on shares of BridgeBio Pharma from $35.00 to $45.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 20th. BMO Capital Markets initiated coverage on shares of BridgeBio Pharma in a research note on Wednesday, January 31st. They set a “market perform” rating and a $37.00 price target on the stock. Finally, Citigroup upped their price target on shares of BridgeBio Pharma from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, BridgeBio Pharma currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.67.

BridgeBio Pharma Price Performance

BBIO stock opened at $29.27 on Wednesday. BridgeBio Pharma has a 1 year low of $12.75 and a 1 year high of $44.32. The firm has a 50-day moving average of $27.92 and a 200 day moving average of $32.10. The company has a market cap of $5.48 billion, a P/E ratio of -9.09 and a beta of 1.08.

Institutional Trading of BridgeBio Pharma

Hedge funds and other institutional investors have recently modified their holdings of the business. Strs Ohio purchased a new position in BridgeBio Pharma during the third quarter worth about $181,000. Teacher Retirement System of Texas increased its holdings in BridgeBio Pharma by 4.9% in the 3rd quarter. Teacher Retirement System of Texas now owns 25,068 shares of the company’s stock valued at $661,000 after purchasing an additional 1,164 shares during the last quarter. Principal Financial Group Inc. raised its position in BridgeBio Pharma by 1,744.9% in the third quarter. Principal Financial Group Inc. now owns 745,666 shares of the company’s stock valued at $19,663,000 after purchasing an additional 705,249 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of BridgeBio Pharma by 4.9% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 15,289 shares of the company’s stock worth $403,000 after buying an additional 720 shares during the period. Finally, Arizona State Retirement System grew its stake in shares of BridgeBio Pharma by 1.6% in the third quarter. Arizona State Retirement System now owns 25,134 shares of the company’s stock valued at $663,000 after buying an additional 386 shares in the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at BridgeBio Pharma

In other news, Director Randal W. Scott sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $34.00, for a total transaction of $85,000.00. Following the completion of the sale, the director now owns 6,500 shares in the company, valued at approximately $221,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 28.52% of the stock is currently owned by company 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.