Brokerages Set BridgeBio Pharma, Inc. (NASDAQ:BBIO) Price Target at $78.85

BridgeBio Pharma, Inc. (NASDAQ:BBIO) has been given a consensus recommendation of “Moderate Buy” by the twenty-three analysts that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and twenty-two have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $79.05.

A number of brokerages have recently commented on BBIO. Weiss Ratings reissued a “sell (d-)” rating on shares of BridgeBio Pharma in a research report on Wednesday, October 8th. HC Wainwright restated a “buy” rating and set a $90.00 price objective on shares of BridgeBio Pharma in a research note on Monday, November 3rd. Cowen restated a “buy” rating on shares of BridgeBio Pharma in a report on Monday, January 12th. Sanford C. Bernstein initiated coverage on BridgeBio Pharma in a report on Thursday, December 11th. They set an “outperform” rating and a $94.00 target price on the stock. Finally, TD Cowen increased their price target on BridgeBio Pharma from $60.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, October 30th.

BridgeBio Pharma Price Performance

BBIO stock opened at $77.19 on Friday. The stock has a market capitalization of $14.88 billion, a P/E ratio of -18.47 and a beta of 1.17. BridgeBio Pharma has a fifty-two week low of $28.33 and a fifty-two week high of $79.88. The business has a 50-day moving average of $73.45 and a 200-day moving average of $59.59.

BridgeBio Pharma (NASDAQ:BBIO) last released its earnings results on Wednesday, October 29th. The company reported ($0.95) EPS for the quarter, missing the consensus estimate of ($0.88) by ($0.07). The business had revenue of $120.70 million during the quarter, compared to analysts’ expectations of $107.71 million. During the same quarter last year, the firm earned ($0.86) EPS. The business’s quarterly revenue was up 4318.0% on a year-over-year basis. Equities analysts expect that BridgeBio Pharma will post -3.67 EPS for the current year.

Insider Buying and Selling

In other BridgeBio Pharma news, CAO Maricel Apuli sold 2,000 shares of the company’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $74.26, for a total transaction of $148,520.00. Following the sale, the chief accounting officer directly owned 130,297 shares of the company’s stock, valued at approximately $9,675,855.22. This represents a 1.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Thomas Trimarchi sold 16,934 shares of the stock in a transaction on Monday, November 17th. The shares were sold at an average price of $66.46, for a total transaction of $1,125,433.64. Following the completion of the sale, the chief financial officer owned 382,830 shares of the company’s stock, valued at approximately $25,442,881.80. This represents a 4.24% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 587,215 shares of company stock worth $39,569,101 in the last quarter. 18.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On BridgeBio Pharma

Hedge funds have recently bought and sold shares of the company. Corient Private Wealth LLC bought a new stake in BridgeBio Pharma in the 2nd quarter valued at $643,000. WINTON GROUP Ltd bought a new position in BridgeBio Pharma during the second quarter worth $3,856,000. Moss Adams Wealth Advisors LLC boosted its position in BridgeBio Pharma by 49.2% during the second quarter. Moss Adams Wealth Advisors LLC now owns 24,172 shares of the company’s stock worth $1,044,000 after purchasing an additional 7,970 shares during the period. Bosun Asset Management LLC increased its holdings in shares of BridgeBio Pharma by 119.7% in the second quarter. Bosun Asset Management LLC now owns 26,154 shares of the company’s stock valued at $1,129,000 after purchasing an additional 14,250 shares during the last quarter. Finally, Bryce Point Capital LLC bought a new position in shares of BridgeBio Pharma in the second quarter valued at about $598,000. 99.85% of the stock is currently owned by institutional investors and hedge funds.

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.