HC Wainwright Brokers Cut Earnings Estimates for BridgeBio Pharma, Inc. (NASDAQ:BBIO)

BridgeBio Pharma, Inc. (NASDAQ:BBIO) – Investment analysts at HC Wainwright decreased their Q2 2024 earnings per share (EPS) estimates for BridgeBio Pharma in a research report issued on Monday, May 20th. HC Wainwright analyst R. Selvaraju now anticipates that the company will post earnings per share of ($0.99) for the quarter, down from their prior forecast of ($0.84). HC Wainwright currently 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.

Several other equities analysts also recently weighed in on the company. Evercore ISI initiated coverage on BridgeBio Pharma in a research report on Tuesday, May 14th. They set an “outperform” rating and a $50.00 target price on the stock. Mizuho cut their price objective on BridgeBio Pharma from $60.00 to $53.00 and set a “buy” rating on the stock in a report on Tuesday, March 5th. JPMorgan Chase & Co. raised their price objective on BridgeBio Pharma from $35.00 to $45.00 and gave the stock an “overweight” rating in a report on Wednesday, March 20th. BMO Capital Markets assumed coverage on BridgeBio Pharma in a report on Wednesday, January 31st. They issued a “market perform” rating and a $37.00 price objective on the stock. Finally, Raymond James assumed coverage on BridgeBio Pharma in a report on Thursday, March 21st. They issued an “outperform” rating and a $45.00 price objective on the stock. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $47.67.

BridgeBio Pharma Stock Down 0.8 %

BBIO opened at $29.28 on Wednesday. The firm has a market cap of $5.48 billion, a P/E ratio of -9.09 and a beta of 1.08. BridgeBio Pharma has a 52 week low of $12.75 and a 52 week high of $44.32. The business’s fifty day simple moving average is $27.89 and its 200 day simple moving average is $32.12.

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

Hedge Funds Weigh In On BridgeBio Pharma

Several institutional investors and hedge funds have recently made changes to their positions in BBIO. YHB Investment Advisors Inc. purchased a new position in shares of BridgeBio Pharma during the 1st quarter valued at approximately $34,000. Quarry LP purchased a new position in shares of BridgeBio Pharma during the 4th quarter valued at approximately $50,000. EntryPoint Capital LLC purchased a new position in shares of BridgeBio Pharma during the 1st quarter valued at approximately $117,000. Assetmark Inc. boosted its stake in shares of BridgeBio Pharma by 46.8% during the 4th quarter. Assetmark Inc. now owns 2,931 shares of the company’s stock valued at $118,000 after buying an additional 935 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of BridgeBio Pharma during the 3rd quarter valued at approximately $132,000. 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, Director Randal W. Scott sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was 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 SEC, which is available through the SEC website. Company insiders own 28.52% of the company’s stock.

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.