BridgeBio Pharma, Inc. (NASDAQ:BBIO) Receives $76.25 Consensus PT from Brokerages

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) have earned an average rating of “Moderate Buy” from the twenty-two research firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating and twenty-one have assigned a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $77.6316.

Several research firms recently issued reports on BBIO. Leerink Partners raised their target price on BridgeBio Pharma from $75.00 to $86.00 and gave the stock an “outperform” rating in a research note on Monday, December 15th. Cowen reiterated a “positive” rating on shares of BridgeBio Pharma in a report on Thursday, October 30th. HC Wainwright reiterated a “buy” rating and issued a $90.00 price objective on shares of BridgeBio Pharma in a research report on Monday, November 3rd. Evercore ISI restated an “outperform” rating on shares of BridgeBio Pharma in a report on Monday, October 27th. Finally, JPMorgan Chase & Co. raised their price target on BridgeBio Pharma from $76.00 to $77.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th.

Insider Transactions at BridgeBio Pharma

In other news, Director Andrew Lo sold 55,000 shares of BridgeBio Pharma stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $65.69, for a total transaction of $3,612,950.00. Following the sale, the director owned 50,583 shares of the company’s stock, valued at approximately $3,322,797.27. The trade was a 52.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Randal W. Scott sold 10,000 shares of the stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $66.65, for a total transaction of $666,500.00. Following the completion of the transaction, the director directly owned 11,589 shares of the company’s stock, valued at approximately $772,406.85. The trade was a 46.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 587,215 shares of company stock worth $38,801,501. 18.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On BridgeBio Pharma

Hedge funds have recently made changes to their positions in the company. Norges Bank purchased a new stake in BridgeBio Pharma in the second quarter worth $84,488,000. Driehaus Capital Management LLC bought a new stake in shares of BridgeBio Pharma during the 1st quarter valued at $51,874,000. Invesco Ltd. grew its position in shares of BridgeBio Pharma by 40.3% in the 3rd quarter. Invesco Ltd. now owns 3,928,657 shares of the company’s stock worth $204,054,000 after buying an additional 1,127,592 shares during the period. Polar Capital Holdings Plc bought a new position in shares of BridgeBio Pharma in the 3rd quarter worth about $50,956,000. Finally, Wellington Management Group LLP lifted its position in BridgeBio Pharma by 1,698.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,019,194 shares of the company’s stock valued at $52,937,000 after acquiring an additional 962,525 shares during the period. 99.85% of the stock is currently owned by institutional investors.

BridgeBio Pharma Stock Up 1.5%

Shares of NASDAQ BBIO opened at $77.53 on Monday. BridgeBio Pharma has a 52 week low of $27.23 and a 52 week high of $78.44. The firm’s fifty day moving average is $67.34 and its 200 day moving average is $54.90. The company has a market cap of $14.94 billion, a price-to-earnings ratio of -18.55 and a beta of 1.26.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings results on Wednesday, October 29th. The company reported ($0.95) earnings per share for the quarter, missing the consensus estimate of ($0.88) by ($0.07). The business had revenue of $120.70 million for the quarter, compared to analyst estimates of $107.71 million. During the same period in the prior year, the firm earned ($0.86) earnings per share. The firm’s revenue for the quarter was up 4318.0% compared to the same quarter last year. Equities research analysts anticipate that BridgeBio Pharma will post -3.67 earnings per share for the current year.

BridgeBio Pharma Company Profile

BridgeBio Pharma, Inc is a clinical-stage biopharmaceutical company headquartered in Palo Alto, California. Founded in 2015 by Neil Kumar, the company is dedicated to discovering, developing and delivering transformative medicines for patients with genetic diseases and cancers. BridgeBio operates an integrated model that spans target identification, preclinical research, clinical development and commercialization, aiming to streamline the process from bench to bedside.

BridgeBio’s pipeline comprises multiple therapeutic modalities, including small molecules, biologics and genetic therapies.