BridgeBio Pharma (NASDAQ:BBIO) Announces Quarterly Earnings Results

BridgeBio Pharma (NASDAQ:BBIO) issued its quarterly earnings data on Thursday. The company reported ($0.42) EPS for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.12, FiscalAI reports. The firm had revenue of $353.17 million for the quarter, compared to analyst estimates of $293.47 million.

BridgeBio Pharma Trading Down 0.1%

Shares of BridgeBio Pharma stock traded down $0.09 during trading hours on Thursday, hitting $70.73. 4,815,721 shares of the company were exchanged, compared to its average volume of 2,883,283. The stock has a market capitalization of $13.83 billion, a price-to-earnings ratio of -19.81 and a beta of 0.97. BridgeBio Pharma has a 1 year low of $60.22 and a 1 year high of $93.42. The business has a 50-day moving average of $70.70 and a 200-day moving average of $72.88.

Insiders Place Their Bets

In other news, CEO Neil Kumar sold 34,980 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $82.53, for a total value of $2,886,899.40. Following the completion of the transaction, the chief executive officer owned 243,327 shares of the company’s stock, valued at $20,081,777.31. The trade was a 12.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 54,980 shares of company stock worth $4,417,999. Company insiders own 14.23% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on BBIO. UBS Group assumed coverage on shares of BridgeBio Pharma in a report on Thursday, October 15th. They issued a “buy” rating and a $92.00 price objective for the company. Barclays cut their price objective on BridgeBio Pharma from $157.00 to $156.00 and set an “overweight” rating for the company in a research report on Wednesday, October 7th. Morgan Stanley cut their price target on shares of BridgeBio Pharma from $97.00 to $87.00 and set an “overweight” rating for the company in a report on Wednesday, October 21st. Jefferies Financial Group reaffirmed a “buy” rating on shares of BridgeBio Pharma in a report on Monday, October 5th. Finally, Canaccord Genuity Group lifted their target price on shares of BridgeBio Pharma from $104.00 to $106.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $104.40.

About BridgeBio Pharma

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.