BridgeBio Pharma (NASDAQ:BBIO) Announces Earnings Results, Misses Expectations By $0.22 EPS

BridgeBio Pharma (NASDAQ:BBIO) posted its earnings results on Thursday. The company reported ($1.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.09) by ($0.22), Zacks reports.

BridgeBio Pharma Stock Performance

Shares of BridgeBio Pharma stock traded up $1.28 during trading 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 fifty day simple moving average of $31.53 and a two-hundred day simple moving average of $27.79. 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.

Insider Buying and Selling

In other news, CEO Neil Kumar sold 326,932 shares of BridgeBio Pharma stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $36.29, for a total value of $11,864,362.28. Following the completion of the sale, the chief executive officer now directly owns 5,371,515 shares in the company, valued at $194,932,279.35. The trade was a 5.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available 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 shares were sold at an average price of $36.29, for a total transaction of $2,467,720.00. Following the transaction, the chief financial officer now directly owns 93,758 shares in the company, valued at $3,402,477.82. This represents a 42.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,496,239 shares of company stock worth $122,612,036 in the last three months. 24.66% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BBIO. HC Wainwright reissued a “buy” rating and issued a $49.00 price target on shares of BridgeBio Pharma in a report on Thursday, February 13th. Scotiabank increased their price target on shares of BridgeBio Pharma from $48.00 to $49.00 and gave the stock a “sector outperform” rating in a report on Wednesday, February 12th. Evercore ISI increased their price target on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the stock an “outperform” rating in a report on Monday, December 23rd. Finally, Bank of America upped their price objective 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 investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus 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.