BridgeBio Pharma (NASDAQ:BBIO) Posts Earnings Results

Key Points

• BridgeBio Pharma beat quarterly expectations: The company reported an adjusted loss of $0.42 per share, $0.12 better than consensus, while revenue of $353.17 million exceeded estimates of $293.47 million.
• Analysts remain broadly bullish: BridgeBio has a consensus “Moderate Buy” rating and a $104.40 target price, with Piper Sandler recently raising its target to $120.
• Shares traded near $70.73 following the results, well below the 52-week high of $93.42. CEO Neil Kumar sold 10,000 shares under a pre-arranged Rule 10b5-1 plan, and insiders have sold nearly 55,000 shares over the past three months.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) announced its earnings results on Thursday. The company reported ($0.42) EPS for the quarter, topping the consensus estimate of ($0.54) by $0.12, FiscalAI reports. The firm had revenue of $353.17 million during the quarter, compared to the consensus estimate of $293.47 million.

BridgeBio Pharma Price Performance

Shares of BridgeBio Pharma stock traded down $0.09 during trading hours on Thursday, reaching $70.73. The company's stock had a trading volume of 4,815,721 shares, compared to its average volume of 2,883,283. BridgeBio Pharma has a one year low of $60.22 and a one year high of $93.42. The firm has a 50 day moving average price of $70.70 and a 200-day moving average price of $72.88. The stock has a market cap of $13.83 billion, a P/E ratio of -19.81 and a beta of 0.97.

Analyst Ratings Changes

BBIO has been the subject of several analyst reports. Piper Sandler boosted their target price on BridgeBio Pharma from $115.00 to $120.00 and gave the stock an "overweight" rating in a research report on Monday, October 19th. Cantor Fitzgerald reiterated an "overweight" rating on shares of BridgeBio Pharma in a report on Monday, October 5th. Canaccord Genuity Group upped their price objective on BridgeBio Pharma from $104.00 to $106.00 and gave the stock a "buy" rating in a research report on Wednesday, August 12th. TD Cowen reaffirmed a "buy" rating on shares of BridgeBio Pharma in a report on Monday, October 5th. Finally, Mizuho boosted their price target on shares of BridgeBio Pharma from $96.00 to $110.00 and gave the stock an "outperform" rating in a report on Tuesday, September 1st. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, BridgeBio Pharma has a consensus rating of "Moderate Buy" and a consensus target price of $104.40.

Insider Activity

In related news, CEO Neil Kumar sold 10,000 shares of the stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $69.08, for a total value of $690,800.00. Following the sale, the chief executive officer directly owned 495,686 shares of the company's stock, valued at $34,241,988.88. This represents a 1.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 54,980 shares of company stock valued at $4,417,999. 14.23% of the stock is currently owned by company insiders.

BridgeBio Pharma Company Profile

BridgeBio Pharma, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for genetically driven diseases. The company operates through a portfolio of subsidiary and affiliated biotechnology businesses, with research programs spanning rare diseases, oncology, cardiology and other conditions linked to underlying genetic or molecular causes.

BridgeBio's portfolio includes therapies designed to address the root mechanisms of disease rather than primarily treating symptoms.

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