Brokerages Set BridgeBio Pharma, Inc. (NASDAQ:BBIO) Target Price at $47.82

BridgeBio Pharma, Inc. (NASDAQ:BBIO) has been given an average recommendation of “Moderate Buy” by the ten brokerages that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $47.82.

BBIO has been the subject of a number of analyst reports. Citigroup upped their price objective on shares of BridgeBio Pharma from $42.00 to $46.00 and gave the company a “buy” rating in a report on Friday, February 23rd. HC Wainwright reiterated a “buy” rating and issued a $47.00 price objective on shares of BridgeBio Pharma in a research report on Monday, March 4th. JPMorgan Chase & Co. raised their price objective on BridgeBio Pharma from $35.00 to $45.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 20th. Cantor Fitzgerald upped their price objective on shares of BridgeBio Pharma from $60.00 to $70.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. Finally, Mizuho cut their price objective on BridgeBio Pharma from $60.00 to $53.00 and set a “buy” rating on the stock in a report on Tuesday, March 5th.

BridgeBio Pharma Stock Performance

NASDAQ:BBIO opened at $27.83 on Wednesday. The firm’s fifty day moving average is $28.72 and its two-hundred day moving average is $31.73. The firm has a market cap of $5.21 billion, a price-to-earnings ratio of -7.06 and a beta of 1.08. BridgeBio Pharma has a one year low of $12.75 and a one year high of $44.32.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($0.96) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.09). The business had revenue of $1.74 million for the quarter, compared to the consensus estimate of $4.78 million. The business’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.92) EPS. As a group, equities research analysts predict that BridgeBio Pharma will post -3.09 earnings per share for the current fiscal year.

Insider Transactions at BridgeBio Pharma

In related news, Director Randal W. Scott sold 2,500 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $34.00, for a total transaction of $85,000.00. Following the sale, the director now directly owns 6,500 shares in the company, valued at approximately $221,000. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 28.52% of the company’s stock.

Institutional Trading of BridgeBio Pharma

A number of institutional investors and hedge funds have recently modified their holdings of BBIO. Capstone Investment Advisors LLC bought a new stake in shares of BridgeBio Pharma in the 1st quarter worth approximately $2,583,000. Principal Financial Group Inc. raised its position in shares of BridgeBio Pharma by 13.7% during the first quarter. Principal Financial Group Inc. now owns 1,073,187 shares of the company’s stock valued at $33,183,000 after buying an additional 129,703 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its stake in shares of BridgeBio Pharma by 67.9% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 33,774 shares of the company’s stock valued at $1,044,000 after buying an additional 13,654 shares in the last quarter. YHB Investment Advisors Inc. bought a new position in shares of BridgeBio Pharma during the 1st quarter worth about $34,000. Finally, Diversified Trust Co boosted its position in shares of BridgeBio Pharma by 57.1% during the 1st quarter. Diversified Trust Co now owns 27,702 shares of the company’s stock valued at $857,000 after acquiring an additional 10,066 shares in the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.

About BridgeBio Pharma

BridgeBio Pharma, Inc, a commercial-stage biopharmaceutical company, discovers, creates, tests, and delivers transformative medicines to treat patients who suffer from genetic diseases and cancers. Its products in development programs include AG10, a next-generation oral small molecule near-complete TTR stabilizer that is in Phase 3 clinical trial for the treatment of TTR amyloidosis, or transthyretin amyloid cardiomyopathy (ATTR-CM); low-dose infigratinib, an oral FGFR1-3 selective tyrosine kinase inhibitor, which is in Phase 3 double-blinded, placebo-controlled pivotal study for the treatment option for children with achondroplasia; and BBP-631, an AAV5 gene transfer product candidate that is in Phase 1/2 clinical trial for the treatment of congenital adrenal hyperplasia, or CAH, driven by 21-hydroxylase deficiency, or 21OHD.