Leerink Partnrs Has Bearish Outlook for BBIO FY2028 Earnings

BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) - Research analysts at Leerink Partnrs reduced their FY2028 earnings per share (EPS) estimates for shares of BridgeBio Pharma in a report released on Monday, July 14th. Leerink Partnrs analyst M. Foroohar now forecasts that the company will post earnings per share of $3.14 for the year, down from their prior estimate of $3.50. The consensus estimate for BridgeBio Pharma's current full-year earnings is ($3.67) per share. Leerink Partnrs also issued estimates for BridgeBio Pharma's FY2029 earnings at $5.27 EPS.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported ($0.88) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.00) by $0.12. The company had revenue of $36.74 million during the quarter, compared to analysts' expectations of $57.14 million. During the same quarter in the prior year, the business posted ($0.20) earnings per share. The company's revenue was down 44.8% compared to the same quarter last year.

Other research analysts also recently issued reports about the company. JPMorgan Chase & Co. boosted their target price on BridgeBio Pharma from $44.00 to $50.00 and gave the stock an "overweight" rating in a research note on Monday, March 24th. HC Wainwright boosted their target price on BridgeBio Pharma from $53.00 to $56.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. Oppenheimer upgraded BridgeBio Pharma from a "market perform" rating to an "outperform" rating and set a $60.00 target price on the stock in a research note on Wednesday, July 9th. UBS Group boosted their target price on BridgeBio Pharma from $65.00 to $72.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. Finally, Piper Sandler boosted their target price on BridgeBio Pharma from $63.00 to $68.00 and gave the stock an "overweight" rating in a research note on Monday. One analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $61.20.

BridgeBio Pharma Stock Performance

BBIO stock traded down $0.05 on Tuesday, hitting $46.69. 1,490,718 shares of the company's stock were exchanged, compared to its average volume of 2,545,184. BridgeBio Pharma has a 12-month low of $21.72 and a 12-month high of $48.68. The firm has a 50 day moving average price of $39.54 and a two-hundred day moving average price of $35.78. The stock has a market cap of $8.87 billion, a P/E ratio of -13.22 and a beta of 1.15.

Insider Buying and Selling at BridgeBio Pharma

In other BridgeBio Pharma news, major shareholder Global Investors Lp Viking sold 3,500,000 shares of the business's stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $44.00, for a total transaction of $154,000,000.00. Following the sale, the insider owned 18,555,375 shares in the company, valued at approximately $816,436,500. The trade was a 15.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Hannah Valantine sold 2,289 shares of the business's stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $44.05, for a total value of $100,830.45. Following the sale, the director owned 398 shares in the company, valued at approximately $17,531.90. The trade was a 85.19% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,926,181 shares of company stock worth $375,528,164. 18.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BridgeBio Pharma

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of BridgeBio Pharma by 6.2% in the 4th quarter. Vanguard Group Inc. now owns 15,077,915 shares of the company's stock valued at $413,738,000 after buying an additional 879,059 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of BridgeBio Pharma by 1.9% in the 4th quarter. Janus Henderson Group PLC now owns 4,907,533 shares of the company's stock valued at $134,672,000 after buying an additional 89,521 shares during the period. Farallon Capital Management LLC lifted its holdings in shares of BridgeBio Pharma by 140.1% in the 4th quarter. Farallon Capital Management LLC now owns 4,195,000 shares of the company's stock valued at $115,111,000 after buying an additional 2,448,000 shares during the period. Frazier Life Sciences Management L.P. lifted its holdings in shares of BridgeBio Pharma by 1.1% in the 4th quarter. Frazier Life Sciences Management L.P. now owns 3,800,457 shares of the company's stock valued at $104,285,000 after buying an additional 40,000 shares during the period. Finally, Capital Research Global Investors lifted its holdings in shares of BridgeBio Pharma by 34.9% in the 4th quarter. Capital Research Global Investors now owns 3,526,747 shares of the company's stock valued at $96,774,000 after buying an additional 912,439 shares during the period. Institutional investors and hedge funds own 99.85% 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.