HC Wainwright Analysts Increase Earnings Estimates for BBIO

BridgeBio Pharma, Inc. (NASDAQ:BBIO) – Investment analysts at HC Wainwright lifted their FY2024 earnings per share estimates for shares of BridgeBio Pharma in a research report issued 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 estimate 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.

BBIO has been the subject of several other research reports. Scotiabank raised their price target on shares of BridgeBio Pharma from $45.00 to $48.00 and gave the company a “sector outperform” rating in a research report on Monday. Evercore ISI decreased their price target on BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Leerink Partners reduced their price objective on BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Bank of America raised their target price on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Oppenheimer began coverage on shares of BridgeBio Pharma in a research report on Thursday, October 3rd. They set a “market perform” rating on the stock. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, BridgeBio Pharma has a consensus rating of “Moderate Buy” and a consensus price target of $48.43.

BridgeBio Pharma Stock Performance

Shares of BBIO opened at $26.44 on Wednesday. The stock has a market capitalization of $5.00 billion, a PE ratio of -10.97 and a beta of 1.09. The company’s 50-day simple moving average is $24.97 and its 200-day simple moving average is $26.21. BridgeBio Pharma has a 1 year low of $21.62 and a 1 year high of $44.32.

Insider Buying and Selling

In other news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $25.75, for a total value of $149,350,000.00. Following the completion of the transaction, the insider now owns 25,260,971 shares in the company, valued at $650,470,003.25. This trade represents a 18.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Neil Kumar sold 27,389 shares of the firm’s 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 sale, the chief executive officer now owns 4,897,443 shares of the company’s stock, valued at $109,751,697.63. This trade represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,831,545 shares of company stock valued at $150,056,923 over the last ninety days. Corporate insiders own 24.66% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bfsg LLC lifted its position in shares of BridgeBio Pharma by 175.6% during the 2nd quarter. Bfsg LLC now owns 1,240 shares of the company’s stock valued at $31,000 after acquiring an additional 790 shares during the period. Headlands Technologies LLC purchased a new position in BridgeBio Pharma in the 2nd quarter valued at approximately $48,000. Values First Advisors Inc. acquired a new position in BridgeBio Pharma during the third quarter worth $57,000. CWM LLC boosted its position in BridgeBio Pharma by 132.9% during the third quarter. CWM LLC now owns 3,442 shares of the company’s stock worth $88,000 after purchasing an additional 1,964 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its holdings in BridgeBio Pharma by 56.1% in the third quarter. Advisors Asset Management Inc. now owns 4,576 shares of the company’s stock valued at $117,000 after purchasing an additional 1,645 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

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.