BridgeBio Pharma, Inc. (NASDAQ:BBIO) Receives $87.38 Average PT from Brokerages

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) have received an average recommendation of “Moderate Buy” from the twenty-five ratings firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and twenty-four have issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $87.7143.

Several research firms recently weighed in on BBIO. Barclays reiterated an “overweight” rating on shares of BridgeBio Pharma in a report on Tuesday, March 10th. Mizuho reiterated an “outperform” rating and issued a $106.00 target price on shares of BridgeBio Pharma in a report on Tuesday, April 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of BridgeBio Pharma in a report on Wednesday, January 21st. Wells Fargo & Company lifted their target price on shares of BridgeBio Pharma from $88.00 to $98.00 and gave the company an “overweight” rating in a report on Friday, February 13th. Finally, TD Cowen reiterated a “buy” rating on shares of BridgeBio Pharma in a report on Monday, January 12th.

BridgeBio Pharma Price Performance

Shares of NASDAQ BBIO opened at $68.56 on Friday. The company has a 50 day simple moving average of $71.28 and a 200-day simple moving average of $70.95. The company has a market capitalization of $13.42 billion, a P/E ratio of -18.14 and a beta of 1.02. BridgeBio Pharma has a 1 year low of $31.77 and a 1 year high of $84.94.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings results on Tuesday, February 24th. The company reported ($1.00) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.25). The firm had revenue of $154.18 million for the quarter, compared to analyst estimates of $150.71 million. During the same period in the prior year, the company earned ($1.40) EPS. BridgeBio Pharma’s revenue was up 2521.2% on a year-over-year basis. As a group, research analysts expect that BridgeBio Pharma will post -2.05 EPS for the current year.

Insider Transactions at BridgeBio Pharma

In related news, CEO Neil Kumar sold 40,000 shares of BridgeBio Pharma stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $74.62, for a total value of $2,984,800.00. Following the completion of the sale, the chief executive officer owned 615,686 shares in the company, valued at approximately $45,942,489.32. This trade represents a 6.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Maricel Apuli sold 510 shares of BridgeBio Pharma stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $74.31, for a total transaction of $37,898.10. Following the completion of the sale, the chief accounting officer owned 123,945 shares of the company’s stock, valued at $9,210,352.95. This trade represents a 0.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 237,084 shares of company stock worth $16,634,419 in the last three months. Company insiders own 18.20% of the company’s stock.

Hedge Funds Weigh In On BridgeBio Pharma

Several institutional investors have recently modified their holdings of BBIO. Jones Financial Companies Lllp acquired a new position in shares of BridgeBio Pharma in the first quarter worth $35,000. First Trust Advisors LP grew its stake in shares of BridgeBio Pharma by 200.4% in the second quarter. First Trust Advisors LP now owns 263,693 shares of the company’s stock worth $11,386,000 after acquiring an additional 175,918 shares in the last quarter. Baird Financial Group Inc. grew its stake in shares of BridgeBio Pharma by 1.8% in the second quarter. Baird Financial Group Inc. now owns 42,057 shares of the company’s stock worth $1,816,000 after acquiring an additional 731 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in shares of BridgeBio Pharma in the second quarter worth $1,650,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of BridgeBio Pharma by 2.4% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 95,326 shares of the company’s stock worth $4,132,000 after acquiring an additional 2,206 shares in the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

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.