BridgeBio Pharma (NASDAQ:BBIO) Posts Quarterly Earnings Results, Beats Expectations By $0.61 EPS

BridgeBio Pharma (NASDAQ:BBIO) released its earnings results on Thursday. The company reported ($0.39) EPS for the quarter, topping the consensus estimate of ($1.00) by $0.61, Briefing.com reports. The firm had revenue of $2.17 million during the quarter, compared to analyst estimates of $3.96 million. During the same quarter last year, the business posted ($0.98) EPS. The firm’s revenue was up 32.1% on a year-over-year basis.

BridgeBio Pharma Price Performance

Shares of NASDAQ:BBIO remained flat at $26.18 during trading on Friday. 1,415,727 shares of the stock were exchanged, compared to its average volume of 1,332,450. BridgeBio Pharma has a 12 month low of $21.62 and a 12 month high of $44.32. The stock has a market capitalization of $4.90 billion, a price-to-earnings ratio of -8.13 and a beta of 1.06. The firm’s 50 day moving average is $26.74 and its two-hundred day moving average is $29.33.

Insider Transactions at BridgeBio Pharma

In other BridgeBio Pharma news, Director Randal W. Scott sold 1,000 shares of BridgeBio Pharma stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $28.84, for a total transaction of $28,840.00. Following the sale, the director now owns 5,500 shares in the company, valued at $158,620. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 24.66% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

BBIO has been the subject of several recent analyst reports. Bank of America reduced their price objective on shares of BridgeBio Pharma from $50.00 to $42.00 and set a “buy” rating for the company in a research note on Tuesday, June 25th. HC Wainwright restated a “buy” rating and set a $43.00 target price on shares of BridgeBio Pharma in a report on Thursday, June 20th. Cantor Fitzgerald reiterated an “overweight” rating and set a $70.00 price target on shares of BridgeBio Pharma in a report on Monday, July 1st. UBS Group lowered their price target on shares of BridgeBio Pharma from $51.00 to $47.00 and set a “buy” rating for the company in a report on Tuesday, May 28th. Finally, Evercore ISI began coverage on shares of BridgeBio Pharma in a report on Tuesday, May 14th. They set an “outperform” rating and a $50.00 price target for the company. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $48.73.

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.