BridgeBio Pharma (NASDAQ:BBIO) Announces Quarterly Earnings Results, Misses Expectations By $0.27 EPS

BridgeBio Pharma (NASDAQ:BBIO) posted its quarterly earnings data on Tuesday. The company reported ($1.00) EPS for the quarter, missing the consensus estimate of ($0.73) by ($0.27), FiscalAI reports. The business had revenue of $154.18 million during the quarter, compared to the consensus estimate of $150.71 million.

BridgeBio Pharma Stock Up 0.6%

BBIO stock traded up $0.40 during mid-day trading on Tuesday, hitting $68.31. 2,458,638 shares of the company were exchanged, compared to its average volume of 3,295,476. BridgeBio Pharma has a 12-month low of $28.33 and a 12-month high of $84.94. The firm has a market capitalization of $13.16 billion, a P/E ratio of -16.34 and a beta of 1.13. The business has a fifty day simple moving average of $75.39 and a 200-day simple moving average of $64.37.

Wall Street Analysts Forecast Growth

BBIO has been the subject of several research reports. Barclays initiated coverage on BridgeBio Pharma in a research report on Wednesday, January 28th. They set an “overweight” rating for the company. Wells Fargo & Company upped their target price on shares of BridgeBio Pharma from $88.00 to $98.00 and gave the stock an “overweight” rating in a report on Friday, February 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of BridgeBio Pharma in a research note on Wednesday, January 21st. TD Cowen reaffirmed a “buy” rating on shares of BridgeBio Pharma in a research note on Monday, January 12th. Finally, Truist Financial increased their price objective on shares of BridgeBio Pharma from $80.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, January 8th. Twenty-two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $82.05.

Insider Activity at BridgeBio Pharma

In related news, CFO Thomas Trimarchi sold 13,600 shares of BridgeBio Pharma stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $74.72, for a total value of $1,016,192.00. Following the completion of the sale, the chief financial officer owned 336,585 shares in the company, valued at approximately $25,149,631.20. This trade represents a 3.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Maricel Apuli sold 2,000 shares of the firm’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $74.26, for a total value of $148,520.00. Following the transaction, the chief accounting officer owned 130,297 shares of the company’s stock, valued at approximately $9,675,855.22. This represents a 1.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 204,174 shares of company stock worth $15,012,335. Company insiders own 18.20% of the company’s stock.

Institutional Investors Weigh In On BridgeBio Pharma

Large investors have recently bought and sold shares of the stock. Farallon Capital Management LLC grew its position in shares of BridgeBio Pharma by 9.8% during the fourth quarter. Farallon Capital Management LLC now owns 8,998,463 shares of the company’s stock worth $688,292,000 after buying an additional 806,463 shares in the last quarter. Invesco Ltd. lifted its stake in BridgeBio Pharma by 23.0% in the fourth quarter. Invesco Ltd. now owns 4,831,305 shares of the company’s stock worth $369,547,000 after acquiring an additional 902,648 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in BridgeBio Pharma by 144.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,828,746 shares of the company’s stock worth $292,862,000 after acquiring an additional 2,261,181 shares in the last quarter. Wellington Management Group LLP increased its position in shares of BridgeBio Pharma by 130.4% in the 4th quarter. Wellington Management Group LLP now owns 2,348,731 shares of the company’s stock valued at $179,654,000 after purchasing an additional 1,329,537 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of BridgeBio Pharma by 3.2% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,975,315 shares of the company’s stock valued at $151,012,000 after purchasing an additional 60,548 shares during the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Company Profile

BridgeBio Pharma, Inc is a clinical-stage biopharmaceutical company headquartered in Palo Alto, California. Founded in 2015 by Neil Kumar, the company is dedicated to discovering, developing and delivering transformative medicines for patients with genetic diseases and cancers. BridgeBio operates an integrated model that spans target identification, preclinical research, clinical development and commercialization, aiming to streamline the process from bench to bedside.

BridgeBio’s pipeline comprises multiple therapeutic modalities, including small molecules, biologics and genetic therapies.