BridgeBio Pharma (NASDAQ:BBIO) Posts Earnings Results, Misses Estimates By $0.20 EPS

BridgeBio Pharma (NASDAQ:BBIO) issued its quarterly earnings results on Monday. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.58) by ($0.20), FiscalAI reports. The company had revenue of $243.68 million for the quarter, compared to analyst estimates of $220.91 million.

BridgeBio Pharma Trading Up 0.2%

Shares of NASDAQ:BBIO traded up $0.19 during trading on Monday, hitting $84.67. 2,938,222 shares of the company’s stock were exchanged, compared to its average volume of 3,004,558. The firm has a market cap of $16.55 billion, a P/E ratio of -22.64 and a beta of 0.96. The firm has a 50-day moving average price of $75.69 and a two-hundred day moving average price of $72.98. BridgeBio Pharma has a 1-year low of $46.28 and a 1-year high of $93.42.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Canaccord Genuity Group assumed coverage on shares of BridgeBio Pharma in a research note on Wednesday, June 3rd. They issued a “buy” rating and a $104.00 target price for the company. Citigroup raised their price target on shares of BridgeBio Pharma from $82.00 to $93.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. Morgan Stanley boosted their price objective on shares of BridgeBio Pharma from $94.00 to $98.00 and gave the stock an “overweight” rating in a research report on Thursday, May 28th. Weiss Ratings reiterated a “sell (d)” rating on shares of BridgeBio Pharma in a research report on Friday, May 15th. Finally, Truist Financial increased their price objective on BridgeBio Pharma from $95.00 to $102.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Nineteen investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $97.33.

Insiders Place Their Bets

In other news, Director Andrea Ellis sold 17,167 shares of the firm’s stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $84.00, for a total value of $1,442,028.00. Following the transaction, the director directly owned 22,579 shares in the company, valued at $1,896,636. This trade represents a 43.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Randal W. Scott sold 10,000 shares of BridgeBio Pharma stock in a transaction on Friday, May 15th. The stock was sold at an average price of $67.15, for a total value of $671,500.00. Following the sale, the director directly owned 11,589 shares of the company’s stock, valued at approximately $778,201.35. This trade represents a 46.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 392,117 shares of company stock valued at $29,934,700 over the last three months. 14.23% of the stock is owned by insiders.

Hedge Funds Weigh In On BridgeBio Pharma

Hedge funds have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC boosted its holdings in BridgeBio Pharma by 271.5% during the fourth quarter. Global Retirement Partners LLC now owns 509 shares of the company’s stock worth $39,000 after buying an additional 372 shares during the last quarter. Kemnay Advisory Services Inc. bought a new stake in shares of BridgeBio Pharma in the 4th quarter valued at about $41,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of BridgeBio Pharma in the 3rd quarter valued at approximately $34,000. Smartleaf Asset Management LLC raised its position in shares of BridgeBio Pharma by 63.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 739 shares of the company’s stock valued at $56,000 after acquiring an additional 286 shares during the period. Finally, Jones Financial Companies Lllp bought a new position in BridgeBio Pharma during the 1st quarter worth approximately $35,000. Institutional investors and hedge funds 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.