BridgeBio Pharma (NASDAQ:BBIO) Stock Rating Upgraded by UBS Group

BridgeBio Pharma (NASDAQ:BBIO) was upgraded by UBS Group to a “strong-buy” rating in a note issued to investors on Wednesday, Zacks reports.

Several other brokerages also recently weighed in on BBIO. Bank of America raised their price target on BridgeBio Pharma from $101.00 to $104.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. TD Cowen restated a “buy” rating on shares of BridgeBio Pharma in a report on Monday, October 5th. Canaccord Genuity Group increased their price objective on shares of BridgeBio Pharma from $104.00 to $106.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Jefferies Financial Group reiterated a “buy” rating on shares of BridgeBio Pharma in a research note on Monday, October 5th. Finally, Mizuho boosted their target price on shares of BridgeBio Pharma from $96.00 to $110.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 1st. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, BridgeBio Pharma presently has a consensus rating of “Moderate Buy” and an average target price of $104.75.

BridgeBio Pharma Trading Down 1.1%

Shares of BBIO traded down $0.74 during midday trading on Wednesday, hitting $66.39. 2,055,510 shares of the company’s stock traded hands, compared to its average volume of 2,982,958. The stock has a market capitalization of $12.98 billion, a price-to-earnings ratio of -18.60 and a beta of 0.97. BridgeBio Pharma has a 1 year low of $52.75 and a 1 year high of $93.42. The firm’s fifty day moving average is $72.75 and its 200-day moving average is $73.32.

BridgeBio Pharma (NASDAQ:BBIO) last announced its earnings results on Monday, August 10th. The company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of ($0.58) by ($0.20). The company had revenue of $243.68 million during the quarter, compared to analysts’ expectations of $220.91 million. During the same quarter last year, the business posted ($0.95) EPS. BridgeBio Pharma’s revenue was up 120.4% compared to the same quarter last year. On average, equities research analysts anticipate that BridgeBio Pharma will post -2.63 EPS for the current year.

Insider Transactions at BridgeBio Pharma

In other news, CAO Maricel Apuli sold 2,000 shares of the stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $80.06, for a total value of $160,120.00. Following the transaction, the chief accounting officer directly owned 127,401 shares of the company’s stock, valued at approximately $10,199,724.06. This represents a 1.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Neil Kumar sold 10,000 shares of the firm’s stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $69.08, for a total value of $690,800.00. Following the completion of the transaction, the chief executive officer owned 495,686 shares of the company’s stock, valued at approximately $34,241,988.88. The trade was a 1.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 56,980 shares of company stock valued at $4,578,119. 14.23% of the stock is currently owned by insiders.

Institutional Investors Weigh In On BridgeBio Pharma

A number of large investors have recently bought and sold shares of BBIO. Silvant Capital Management LLC acquired a new stake in shares of BridgeBio Pharma during the 2nd quarter valued at about $28,000. Allworth Financial LP acquired a new position in BridgeBio Pharma in the 2nd quarter worth about $31,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in BridgeBio Pharma in the 2nd quarter worth about $44,000. Integrated Wealth Concepts LLC purchased a new position in BridgeBio Pharma during the second quarter worth approximately $52,000. Finally, Parallel Advisors LLC boosted its position in BridgeBio Pharma by 552.6% during the first quarter. Parallel Advisors LLC now owns 894 shares of the company’s stock worth $66,000 after purchasing an additional 757 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

About BridgeBio Pharma

BridgeBio Pharma, Inc is a biotechnology company focused on discovering, developing and commercializing medicines for genetically driven diseases. The company uses its drug discovery and development platform to advance therapies across areas including rare diseases, genetic disorders and precision oncology, with programs designed to address the underlying biological causes of disease.

BridgeBio operates through a collection of subsidiary companies and development programs. Its portfolio has included therapies for cardiovascular, endocrine, neurological and oncological conditions.