BridgeBio Pharma (NASDAQ:BBIO) Issues Quarterly Earnings Results

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

BridgeBio Pharma Stock Performance

NASDAQ:BBIO traded up $1.28 during trading hours on Thursday, hitting $37.57. The company’s stock had a trading volume of 3,153,027 shares, compared to its average volume of 2,807,865. The company has a market capitalization of $7.10 billion, a PE ratio of -15.57 and a beta of 1.07. BridgeBio Pharma has a 52-week low of $21.62 and a 52-week high of $39.47. The business’s 50-day moving average is $31.53 and its two-hundred day moving average is $27.79.

Insiders Place Their Bets

In related news, CEO Neil Kumar sold 31,543 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $36.14, for a total transaction of $1,139,964.02. Following the sale, the chief executive officer now directly owns 211,718 shares in the company, valued at approximately $7,651,488.52. This trade represents a 12.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Brian C. Stephenson sold 68,000 shares of BridgeBio Pharma stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $36.29, for a total value of $2,467,720.00. Following the completion of the transaction, the chief financial officer now owns 93,758 shares of the company’s stock, valued at approximately $3,402,477.82. The trade was a 42.04 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,496,239 shares of company stock valued at $122,612,036. Insiders own 24.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Evercore ISI lifted their price objective on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the company an “outperform” rating in a research report on Monday, December 23rd. Scotiabank lifted their price objective on shares of BridgeBio Pharma from $48.00 to $49.00 and gave the company a “sector outperform” rating in a research report on Wednesday, February 12th. Bank of America boosted their target price 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. Finally, HC Wainwright reissued a “buy” rating and set a $49.00 target price on shares of BridgeBio Pharma in a research note on Thursday, February 13th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, BridgeBio Pharma currently has an average rating of “Moderate Buy” and a consensus target price of $49.08.

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.