BridgeBio Pharma, Inc. (NASDAQ:BBIO) Stock Has Average Target Price of $104.75 According to Brokerages

BridgeBio Pharma, Inc. (NASDAQ:BBIO) has been assigned an average recommendation of “Moderate Buy” from the twenty-four ratings firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $104.40.

Several equities research analysts have recently commented on BBIO shares. Truist Financial raised their target price on shares of BridgeBio Pharma from $102.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. UBS Group reiterated a “buy” rating and set a $92.00 price target (up from $82.00) on shares of BridgeBio Pharma in a research report on Thursday, October 15th. HC Wainwright reissued a “buy” rating on shares of BridgeBio Pharma in a research note on Tuesday, October 6th. Piper Sandler raised their price objective on shares of BridgeBio Pharma from $115.00 to $120.00 and gave the stock an “overweight” rating in a report on Monday, October 19th. Finally, Morgan Stanley lowered their price objective on shares of BridgeBio Pharma from $97.00 to $87.00 and set an “overweight” rating for the company in a report on Wednesday.

BridgeBio Pharma Stock Up 0.6%

Shares of BBIO stock opened at $68.56 on Friday. The stock has a fifty day moving average of $71.28 and a 200 day moving average of $73.15. BridgeBio Pharma has a 52 week low of $54.23 and a 52 week high of $93.42. The firm has a market capitalization of $13.40 billion, a price-to-earnings ratio of -19.20 and a beta of 0.97.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly 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 for the quarter, compared to analyst estimates of $220.91 million. The firm’s quarterly revenue was up 120.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.95) EPS. Equities research analysts anticipate that BridgeBio Pharma will post -2.64 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Neil Kumar sold 34,980 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $82.53, for a total value of $2,886,899.40. Following the completion of the transaction, the chief executive officer owned 243,327 shares of the company’s stock, valued at approximately $20,081,777.31. This represents a 12.57% decrease in their position. The sale was disclosed in a legal filing 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, CAO Maricel Apuli sold 2,000 shares of the stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $80.06, for a total value of $160,120.00. Following the completion of the transaction, the chief accounting officer directly owned 127,401 shares of the company’s stock, valued at $10,199,724.06. This represents a 1.55% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 56,980 shares of company stock worth $4,578,119 in the last quarter. Company insiders own 14.23% of the company’s stock.

Institutional Investors Weigh In On BridgeBio Pharma

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jupiter Topco LLC purchased a new position in BridgeBio Pharma during the second quarter valued at $1,050,762,000. Janus Henderson Group PLC boosted its holdings in shares of BridgeBio Pharma by 19.8% during the 1st quarter. Janus Henderson Group PLC now owns 13,179,013 shares of the company’s stock valued at $978,608,000 after buying an additional 2,178,556 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of BridgeBio Pharma in the 2nd quarter worth about $145,663,000. Pictet Asset Management Holding SA grew its position in shares of BridgeBio Pharma by 8.7% in the 1st quarter. Pictet Asset Management Holding SA now owns 1,381,184 shares of the company’s stock worth $101,495,000 after buying an additional 110,894 shares during the period. Finally, Principal Financial Group Inc. grew its position in shares of BridgeBio Pharma by 1.2% in the 1st quarter. Principal Financial Group Inc. now owns 1,330,415 shares of the company’s stock worth $98,797,000 after buying an additional 16,112 shares during the period. 99.85% of the stock is owned by hedge funds and other institutional investors.

About BridgeBio Pharma

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.