FY2024 EPS Estimates for BBIO Decreased by Cantor Fitzgerald

BridgeBio Pharma, Inc. (NASDAQ:BBIO) – Equities researchers at Cantor Fitzgerald dropped their FY2024 earnings per share estimates for shares of BridgeBio Pharma in a research report issued to clients and investors on Wednesday, November 13th. Cantor Fitzgerald analyst J. Schimmer now anticipates that the company will post earnings of ($2.63) per share for the year, down from their prior estimate of ($2.05). Cantor Fitzgerald has a “Overweight” rating and a $70.00 price objective on the stock. The consensus estimate for BridgeBio Pharma’s current full-year earnings is ($2.58) per share.

A number of other brokerages also recently issued reports on BBIO. JPMorgan Chase & Co. reduced their price objective on shares of BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Piper Sandler began coverage on BridgeBio Pharma in a research report on Wednesday, September 4th. They set an “overweight” rating and a $46.00 price target for the company. Bank of America reissued a “buy” rating and issued a $42.00 price objective on shares of BridgeBio Pharma in a research report on Wednesday, September 11th. Oppenheimer assumed coverage on BridgeBio Pharma in a research report on Thursday, October 3rd. They set a “market perform” rating for the company. Finally, HC Wainwright reissued a “buy” rating and issued a $43.00 price target on shares of BridgeBio Pharma in a report on Friday, October 25th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $47.57.

BridgeBio Pharma Trading Down 5.8 %

Shares of BridgeBio Pharma stock opened at $22.35 on Monday. The company has a market capitalization of $4.22 billion, a P/E ratio of -9.27 and a beta of 1.09. The stock has a fifty day simple moving average of $25.33 and a 200 day simple moving average of $26.37. BridgeBio Pharma has a 12-month low of $21.62 and a 12-month high of $44.32.

Institutional Investors Weigh In On BridgeBio Pharma

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Bfsg LLC grew its position in BridgeBio Pharma by 175.6% during the second quarter. Bfsg LLC now owns 1,240 shares of the company’s stock worth $31,000 after buying an additional 790 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of BridgeBio Pharma during the second quarter worth about $48,000. Values First Advisors Inc. purchased a new position in shares of BridgeBio Pharma during the third quarter worth about $57,000. CWM LLC increased its position in shares of BridgeBio Pharma by 132.9% in 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 during the last quarter. Finally, EntryPoint Capital LLC purchased a new stake in BridgeBio Pharma in the first quarter valued at approximately $117,000. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Insider Transactions at BridgeBio Pharma

In other BridgeBio Pharma news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 25,260,971 shares of the company’s stock, 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 Securities & Exchange Commission, which is available at this link. Corporate insiders own 24.66% of the company’s stock.

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.