BridgeBio Pharma (NASDAQ:BBIO) Announces Quarterly Earnings Results, Beats Expectations By $0.12 EPS

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

BridgeBio Pharma Trading Up 0.4 %

Shares of BBIO traded up $0.17 during trading hours on Friday, reaching $38.57. 3,168,027 shares of the company's stock traded hands, compared to its average volume of 2,352,389. BridgeBio Pharma has a 12 month low of $21.62 and a 12 month high of $39.54. The stock has a market cap of $7.32 billion, a PE ratio of -13.53 and a beta of 1.15. The firm's 50 day simple moving average is $34.06 and its 200-day simple moving average is $30.88.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on BBIO shares. HC Wainwright boosted their price objective on BridgeBio Pharma from $49.00 to $53.00 and gave the company a "buy" rating in a research note on Tuesday, April 15th. JPMorgan Chase & Co. boosted their price target on shares of BridgeBio Pharma from $44.00 to $50.00 and gave the company an "overweight" rating in a research report on Monday, March 24th. Citigroup upped their price target on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the company a "buy" rating in a research note on Friday, February 21st. UBS Group lifted their price objective on shares of BridgeBio Pharma from $65.00 to $72.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, Piper Sandler increased their target price on BridgeBio Pharma from $46.00 to $63.00 and gave the stock an "overweight" rating in a research report on Wednesday. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $57.09.

Insider Buying and Selling

In related news, CFO Brian C. Stephenson sold 4,148 shares of the firm's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $36.16, for a total transaction of $149,991.68. Following the transaction, the chief financial officer now directly owns 102,464 shares of the company's stock, valued at approximately $3,705,098.24. This trade represents a 3.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $32.96, for a total value of $197,760,000.00. Following the completion of the sale, the insider now owns 19,260,971 shares of the company's stock, valued at $634,841,604.16. The trade was a 23.75 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,309,191 shares of company stock worth $208,544,821. Insiders own 24.66% of the company's stock.

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.