BridgeBio Pharma (NASDAQ:BBIO) Announces Quarterly Earnings Results

BridgeBio Pharma (NASDAQ:BBIO) released its earnings results on Thursday. The company reported ($1.31) EPS for the quarter, missing the consensus estimate of ($1.09) by ($0.22), Zacks reports.

BridgeBio Pharma Trading Up 3.3 %

NASDAQ:BBIO traded up $1.19 during mid-day trading on Thursday, hitting $37.48. 2,447,781 shares of the company’s stock were exchanged, compared to its average volume of 2,786,845. The company has a 50 day simple moving average of $31.53 and a 200-day simple moving average of $27.79. BridgeBio Pharma has a fifty-two week low of $21.62 and a fifty-two week high of $39.47. The firm has a market capitalization of $7.08 billion, a P/E ratio of -15.55 and a beta of 1.07.

Wall Street Analysts Forecast Growth

Several research firms have commented on BBIO. Scotiabank raised their target price on shares of BridgeBio Pharma from $48.00 to $49.00 and gave the company a “sector outperform” rating in a report on Wednesday, February 12th. HC Wainwright restated a “buy” rating and issued a $49.00 price target on shares of BridgeBio Pharma in a research note on Thursday, February 13th. Evercore ISI raised their price target on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, December 23rd. Finally, Bank of America raised their price target on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, November 25th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $49.08.

Insider Buying and Selling

In other news, CEO Neil Kumar sold 31,543 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $36.14, for a total value of $1,139,964.02. Following the transaction, the chief executive officer now owns 211,718 shares in the company, valued at approximately $7,651,488.52. The trade was a 12.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Global Investors Lp Viking sold 3,065,616 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $34.90, for a total transaction of $106,989,998.40. Following the completion of the transaction, the insider now owns 22,055,375 shares in the company, valued at $769,732,587.50. This trade represents a 12.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,496,239 shares of company stock worth $122,612,036 in the last ninety days. Company insiders own 24.66% 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.