BridgeBio Pharma (NASDAQ:BBIO) Given New $91.00 Price Target at Citigroup

BridgeBio Pharma (NASDAQ:BBIO) had its target price reduced by analysts at Citigroup from $94.00 to $91.00 in a report released on Monday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s target price indicates a potential upside of 33.94% from the stock’s previous close.

BBIO has been the topic of several other reports. Canaccord Genuity Group increased their target price on BridgeBio Pharma from $104.00 to $106.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Piper Sandler boosted their price target on BridgeBio Pharma from $115.00 to $120.00 and gave the company an “overweight” rating in a research note on Monday. HC Wainwright reaffirmed a “buy” rating on shares of BridgeBio Pharma in a research report on Tuesday, October 6th. Bank of America upped their price objective on shares of BridgeBio Pharma from $101.00 to $104.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. Finally, TD Cowen reiterated a “buy” rating on shares of BridgeBio Pharma in a research note on Monday, October 5th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, BridgeBio Pharma has an average rating of “Moderate Buy” and an average target price of $104.90.

BridgeBio Pharma Price Performance

NASDAQ:BBIO traded up $1.55 during trading hours on Monday, reaching $67.94. 2,292,291 shares of the company were exchanged, compared to its average volume of 2,887,648. The company has a market capitalization of $13.28 billion, a P/E ratio of -19.03 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 business has a 50 day moving average of $72.75 and a 200 day moving average of $73.35.

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

Insider Activity at BridgeBio Pharma

In other BridgeBio Pharma news, CEO Neil Kumar sold 34,980 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $82.53, for a total transaction of $2,886,899.40. Following the completion of the sale, the chief executive officer directly owned 243,327 shares in the company, valued at $20,081,777.31. This represents a 12.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Maricel Apuli sold 2,000 shares of the firm’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $80.06, for a total value of $160,120.00. Following the completion of the sale, the chief accounting officer directly owned 127,401 shares in the company, valued at approximately $10,199,724.06. This represents a 1.55% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 56,980 shares of company stock valued at $4,578,119. Company insiders own 14.23% of the company’s stock.

Institutional Trading of BridgeBio Pharma

Large investors have recently bought and sold shares of the business. Silvant Capital Management LLC acquired a new position in BridgeBio Pharma during the second quarter worth about $28,000. Allworth Financial LP acquired a new stake in shares of BridgeBio Pharma in the 2nd quarter valued at approximately $31,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of BridgeBio Pharma in the 2nd quarter valued at approximately $44,000. Integrated Wealth Concepts LLC bought a new stake in shares of BridgeBio Pharma during the 2nd quarter valued at approximately $52,000. Finally, Parallel Advisors LLC grew its holdings in shares of BridgeBio Pharma by 552.6% during the 1st quarter. Parallel Advisors LLC now owns 894 shares of the company’s stock valued at $66,000 after purchasing an additional 757 shares during the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.

BridgeBio Pharma Company Profile

BridgeBio Pharma, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for genetically driven diseases. The company operates through a portfolio of subsidiary and affiliated biotechnology businesses, with research programs spanning rare diseases, oncology, cardiology and other conditions linked to underlying genetic or molecular causes.

BridgeBio’s portfolio includes therapies designed to address the root mechanisms of disease rather than primarily treating symptoms.