BridgeBio Pharma (NASDAQ:BBIO) Issues Quarterly Earnings Results, Misses Estimates By $0.22 EPS

BridgeBio Pharma (NASDAQ:BBIO) issued its quarterly earnings data on Thursday. The company reported ($1.31) earnings per share for the quarter, missing the consensus estimate of ($1.09) by ($0.22), Zacks reports. The company had revenue of $5.88 million for the quarter, compared to analysts’ expectations of $4.04 million.

BridgeBio Pharma Trading Up 0.1 %

Shares of NASDAQ:BBIO opened at $36.85 on Friday. The business has a 50-day moving average price of $31.90 and a two-hundred day moving average price of $27.93. BridgeBio Pharma has a 1-year low of $21.62 and a 1-year high of $39.47. The stock has a market capitalization of $6.96 billion, a P/E ratio of -15.29 and a beta of 1.07.

Analysts Set New Price Targets

A number of research firms have recently commented on BBIO. Cantor Fitzgerald reissued an “overweight” rating and issued a $95.00 price target on shares of BridgeBio Pharma in a research report on Friday. Citigroup lifted their price target on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday. HC Wainwright reiterated a “buy” rating and set a $49.00 price target on shares of BridgeBio Pharma in a research note on Thursday, February 13th. Scotiabank lifted their price target on shares of BridgeBio Pharma from $49.00 to $52.00 and gave the stock a “sector outperform” rating in a research note on Friday. Finally, Bank of America lifted their price target on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $51.67.

Insider Activity at BridgeBio Pharma

In other BridgeBio Pharma news, CFO Brian C. Stephenson sold 68,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $36.29, for a total transaction of $2,467,720.00. Following the completion of the transaction, the chief financial officer now owns 93,758 shares of the company’s stock, valued at $3,402,477.82. This represents a 42.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Neil Kumar sold 326,932 shares of the stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $36.29, for a total value of $11,864,362.28. Following the completion of the sale, the chief executive officer now directly owns 5,371,515 shares of the company’s stock, valued at approximately $194,932,279.35. The trade was a 5.74 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 3,496,239 shares of company stock worth $122,612,036. 24.66% of the stock is owned by company insiders.

BridgeBio Pharma Company Profile

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.