Published on 4 May 2024 on Simply Wall St. via Yahoo Finance

What You Need To Know About The BridgeBio Pharma, Inc. (NASDAQ:BBIO) Analyst Downgrade Today

The latest analyst coverage could presage a bad day for BridgeBio Pharma, Inc. (NASDAQ:BBIO), with the analysts making across-the-board cuts to their statutory estimates that might leave shareholders a little shell-shocked. This report focused on revenue estimates, and it looks as though the consensus view of the business has become substantially more conservative. Bidders are definitely seeing a different story, with the stock price of US$27.83 reflecting a 12% rise in the past week. With such a sharp increase, it seems brokers may have seen something that is not yet being priced in by the wider market.

After the downgrade, the consensus from BridgeBio Pharma's twelve analysts is for revenues of US$125m in 2024, which would reflect a concerning 43% decline in sales compared to the last year of performance. Per-share losses are expected to see a sharp uptick, reaching US$3.30. However, before this estimates update, the consensus had been expecting revenues of US$137m and US$3.22 per share in losses. Overall it looks as though the analysts are negative in this update. Although sales forecasts held steady, the consensus also made a moderate increase in to its losses per share forecasts.