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Investing.com - Oppenheimer raised its price target on BridgeBio Pharma (NASDAQ:BBIO) to $61.00 from $60.00 on Wednesday, while maintaining an Outperform rating on the stock. According to InvestingPro data, analyst targets range from $41 to $95, with a strong consensus recommendation of 1.41, indicating robust bullish sentiment.
The price target adjustment follows BridgeBio’s second-quarter Attruby sales of $71.5 million, which exceeded both Oppenheimer’s estimate of $71 million and consensus expectations of $65 million, but fell short of wider market expectations.
BridgeBio shares fell approximately 12% in post-market trading after the earnings release, a reaction Oppenheimer characterized as creating "an attractive entry" opportunity for investors.
Oppenheimer noted that Attruby’s launch trajectory accelerated faster than expected, with August 1st prescriptions reaching 3,751 across 1,074 unique prescribers, 20% above their forecast of 3,128.
Based on the accelerating prescription growth, Oppenheimer increased its Attruby sales estimates for the third and fourth quarters of 2025 to $113 million and $160 million respectively, up from previous estimates of $107 million and $143 million, while also raising its 2026 sales projection to $1.04 billion from $815 million.
In other recent news, BridgeBio Pharma reported its second-quarter 2025 earnings, revealing a notable increase in revenue. The company achieved a revenue of $110.6 million, which exceeded the forecast of $99.72 million by 10.87%. Despite this revenue success, BridgeBio Pharma’s earnings per share (EPS) did not meet expectations, recording a loss of $0.95 compared to the anticipated loss of $0.75. These recent developments highlight the mixed financial results for the company. The revenue surge is a positive indicator, although the earnings miss suggests challenges in profitability. Investors and analysts are closely monitoring these financial metrics to assess the company’s future performance.
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