FY2024 EPS Forecast for BridgeBio Pharma Reduced by Analyst

BridgeBio Pharma, Inc. (NASDAQ:BBIO) – Stock analysts at Cantor Fitzgerald decreased their FY2024 EPS estimates for shares of BridgeBio Pharma in a report released on Wednesday, November 13th. Cantor Fitzgerald analyst J. Schimmer now anticipates that the company will earn ($2.63) per share for the year, down from their prior forecast of ($2.05). Cantor Fitzgerald has a “Overweight” rating and a $70.00 price target on the stock. The consensus estimate for BridgeBio Pharma’s current full-year earnings is ($2.58) per share.

A number of other analysts have also recently weighed in on the stock. Oppenheimer assumed coverage on shares of BridgeBio Pharma in a research note on Thursday, October 3rd. They set a “market perform” rating for the company. Piper Sandler started coverage on shares of BridgeBio Pharma in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $46.00 target price for the company. Evercore ISI reduced their target price on shares of BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Leerink Partners reduced their target price on shares of BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Finally, Bank of America reiterated a “buy” rating and issued a $42.00 price objective on shares of BridgeBio Pharma in a research note on Wednesday, September 11th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, BridgeBio Pharma has a consensus rating of “Moderate Buy” and a consensus target price of $47.57.

BridgeBio Pharma Price Performance

Shares of NASDAQ:BBIO opened at $23.72 on Monday. The stock has a market cap of $4.48 billion, a P/E ratio of -9.84 and a beta of 1.09. The firm has a fifty day moving average price of $25.50 and a 200 day moving average price of $26.41. BridgeBio Pharma has a 1-year low of $21.62 and a 1-year high of $44.32.

Insider Transactions at BridgeBio Pharma

In related news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now directly owns 25,260,971 shares in the company, valued at approximately $650,470,003.25. The trade was a 18.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 24.66% of the company’s stock.

Institutional Investors Weigh In On BridgeBio Pharma

A number of institutional investors have recently bought and sold shares of BBIO. ProShare Advisors LLC grew its holdings in BridgeBio Pharma by 10.7% in the first quarter. ProShare Advisors LLC now owns 33,281 shares of the company’s stock valued at $1,029,000 after purchasing an additional 3,209 shares during the period. State Board of Administration of Florida Retirement System grew its holdings in BridgeBio Pharma by 8.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 35,583 shares of the company’s stock valued at $1,100,000 after purchasing an additional 2,900 shares during the period. Vanguard Group Inc. grew its holdings in BridgeBio Pharma by 3.3% in the first quarter. Vanguard Group Inc. now owns 13,222,126 shares of the company’s stock valued at $408,828,000 after purchasing an additional 421,832 shares during the period. American International Group Inc. grew its holdings in BridgeBio Pharma by 1.0% in the first quarter. American International Group Inc. now owns 57,491 shares of the company’s stock valued at $1,778,000 after purchasing an additional 565 shares during the period. Finally, EntryPoint Capital LLC purchased a new stake in BridgeBio Pharma in the first quarter valued at approximately $117,000. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

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.