This story originally appeared on Zacks
BridgeBio Pharma (BBIO) closed at $8.54 in the latest trading session, marking a -1.61% move from the prior day. This change lagged the S&P 500’s 0.38% loss on the day. Meanwhile, the Dow lost 0.5%, and the Nasdaq, a tech-heavy index, lost 0.05%.
– Zacks
Prior to today’s trading, shares of the rare disease drug developer had lost 31.92% over the past month. This has lagged the Medical sector’s loss of 5.24% and the S&P 500’s loss of 6.25% in that time.
Investors will be hoping for strength from BridgeBio Pharma as it approaches its next earnings release. The company is expected to report EPS of -$0.83, up 17.82% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $33.19 million, up 27561.67% from the year-ago period.
It is also important to note the recent changes to analyst estimates for BridgeBio Pharma. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.69% higher. BridgeBio Pharma currently has a Zacks Rank of #3 (Hold).
The Medical – Generic Drugs industry is part of the Medical sector. This group has a Zacks Industry Rank of 216, putting it in the bottom 16% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
Just Released: Zacks Top 10 Stocks for 2022
In addition to the investment ideas discussed above, would you like to know about our 10 top buy-and-hold tickers for the entirety of 2022?
Last year’s 2021 Zacks Top 10 Stocks portfolio returned gains as high as +147.7%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys
Access Zacks Top 10 Stocks for 2022 today >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
BridgeBio Pharma, Inc. (BBIO): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
For all the latest Business News Click Here
For the latest news and updates, follow us on Google News.
Denial of responsibility! NewsBit.us is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.
