BridgeBio Pharma (NASDAQ:BBIO) Announces Quarterly Earnings Results

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) issued its quarterly earnings results on Tuesday. The company reported ($0.88) earnings per share for the quarter, topping the consensus estimate of ($1.00) by $0.12, Zacks reports. The company had revenue of $36.74 million for the quarter, compared to analysts' expectations of $57.14 million. During the same quarter last year, the company earned ($0.20) EPS. BridgeBio Pharma's revenue for the quarter was down 44.8% compared to the same quarter last year.

BridgeBio Pharma Stock Performance

Shares of BBIO opened at $36.42 on Wednesday. The stock has a market capitalization of $6.91 billion, a P/E ratio of -12.78 and a beta of 1.08. The company's fifty day moving average is $33.90 and its two-hundred day moving average is $30.61. BridgeBio Pharma has a 1 year low of $21.62 and a 1 year high of $39.47.

Insider Buying and Selling at BridgeBio Pharma

In other news, major shareholder Global Investors Lp Viking sold 3,065,616 shares of the company's stock in a transaction on Friday, January 31st. The shares were sold at an average price of $34.90, for a total transaction of $106,989,998.40. Following the transaction, the insider now directly owns 22,055,375 shares of the company's stock, valued at $769,732,587.50. This represents a 12.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Neil Kumar sold 31,543 shares of the company's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $36.14, for a total transaction of $1,139,964.02. Following the transaction, the chief executive officer now directly owns 211,718 shares in the company, valued at approximately $7,651,488.52. This trade represents a 12.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,374,807 shares of company stock valued at $315,534,819. 24.66% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on BBIO. Citigroup upped their price target on BridgeBio Pharma from $45.00 to $49.00 and gave the stock a "buy" rating in a report on Friday, February 21st. JPMorgan Chase & Co. increased their price objective on BridgeBio Pharma from $44.00 to $50.00 and gave the company an "overweight" rating in a report on Monday, March 24th. Redburn Atlantic started coverage on BridgeBio Pharma in a report on Monday, March 31st. They issued a "buy" rating and a $50.00 price objective on the stock. Scotiabank increased their price objective on BridgeBio Pharma from $49.00 to $52.00 and gave the company a "sector outperform" rating in a report on Friday, February 21st. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $95.00 price objective on shares of BridgeBio Pharma in a report on Friday, February 21st. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $53.00.

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.