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

BridgeBio Pharma (NASDAQ:BBIO) issued its quarterly earnings data on Tuesday. The company reported ($1.00) earnings per share for the quarter, missing analysts’ consensus estimates 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 Trading Up 0.6%

Shares of NASDAQ:BBIO traded up $0.40 during trading on Tuesday, hitting $68.31. 2,428,061 shares of the stock were exchanged, compared to its average volume of 3,277,595. The company has a market cap of $13.16 billion, a PE ratio of -16.34 and a beta of 1.13. The company has a fifty day moving average price of $75.39 and a two-hundred day moving average price of $64.37. BridgeBio Pharma has a 12-month low of $28.33 and a 12-month high of $84.94.

Insider Transactions at BridgeBio Pharma

In other BridgeBio Pharma news, Director Randal W. Scott sold 10,000 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $75.46, for a total transaction of $754,600.00. Following the sale, the director owned 11,589 shares in the company, valued at approximately $874,505.94. This represents a 46.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Neil Kumar sold 40,000 shares of the stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $74.40, for a total value of $2,976,000.00. Following the sale, the chief executive officer directly owned 775,686 shares in the company, valued at approximately $57,711,038.40. The trade was a 4.90% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 204,174 shares of company stock valued at $15,012,335. Company insiders own 18.20% of the company’s stock.

Institutional Trading of BridgeBio Pharma

A number of hedge funds have recently added to or reduced their stakes in BBIO. Harvest Fund Management Co. Ltd acquired a new stake in BridgeBio Pharma in the 3rd quarter valued at $34,000. Jones Financial Companies Lllp purchased a new stake in shares of BridgeBio Pharma in the first quarter worth about $35,000. Global Retirement Partners LLC grew its stake in shares of BridgeBio Pharma by 271.5% in the fourth quarter. Global Retirement Partners LLC now owns 509 shares of the company’s stock valued at $39,000 after buying an additional 372 shares in the last quarter. Kemnay Advisory Services Inc. purchased a new stake in shares of BridgeBio Pharma during the 4th quarter valued at about $41,000. Finally, Smartleaf Asset Management LLC raised its holdings in shares of BridgeBio Pharma by 63.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 739 shares of the company’s stock valued at $56,000 after buying an additional 286 shares during the period. 99.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BBIO has been the topic of several recent research reports. Oppenheimer boosted their price target on BridgeBio Pharma from $81.00 to $83.00 and gave the company an “outperform” rating in a research report on Friday, February 13th. JPMorgan Chase & Co. lifted their target price on BridgeBio Pharma from $76.00 to $77.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Morgan Stanley started coverage on BridgeBio Pharma in a research note on Tuesday, January 6th. They set an “overweight” rating and a $96.00 price target for the company. Evercore reaffirmed an “outperform” rating on shares of BridgeBio Pharma in a report on Monday, October 27th. Finally, HC Wainwright lifted their price objective on shares of BridgeBio Pharma from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, February 17th. Twenty-two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $82.05.

About BridgeBio Pharma

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.