Analysts Set BridgeBio Pharma, Inc. (NASDAQ:BBIO) PT at $52.20

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) have been assigned a consensus rating of “Moderate Buy” from the eleven ratings firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $52.90.

A number of research firms have recently weighed in on BBIO. HC Wainwright reaffirmed a “buy” rating and set a $49.00 price target on shares of BridgeBio Pharma in a report on Thursday, February 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $95.00 target price on shares of BridgeBio Pharma in a research note on Friday, February 21st. Evercore ISI increased their price target on BridgeBio Pharma from $45.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, December 23rd. Scotiabank raised their price target on BridgeBio Pharma from $49.00 to $52.00 and gave the company a “sector outperform” rating in a report on Friday, February 21st. Finally, JPMorgan Chase & Co. upped their price objective on shares of BridgeBio Pharma from $44.00 to $50.00 and gave the stock an “overweight” rating in a report on Monday.

Insider Buying and Selling at BridgeBio Pharma

In other BridgeBio Pharma news, CFO Brian C. Stephenson sold 68,000 shares of the company’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $36.29, for a total value of $2,467,720.00. Following the transaction, the chief financial officer now owns 93,758 shares of the company’s stock, valued at approximately $3,402,477.82. This represents a 42.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Global Investors Lp Viking sold 3,065,616 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $34.90, for a total value of $106,989,998.40. Following the sale, the insider now directly owns 22,055,375 shares of the company’s stock, valued at approximately $769,732,587.50. This represents a 12.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 9,579,739 shares of company stock valued at $323,171,901. 24.66% of the stock is owned by insiders.

Hedge Funds Weigh In On BridgeBio Pharma

A number of institutional investors have recently bought and sold shares of BBIO. Ironwood Investment Management LLC boosted its holdings in shares of BridgeBio Pharma by 0.5% in the fourth quarter. Ironwood Investment Management LLC now owns 63,157 shares of the company’s stock worth $1,733,000 after buying an additional 338 shares during the period. Summit Investment Advisors Inc. lifted its position in shares of BridgeBio Pharma by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 14,706 shares of the company’s stock valued at $404,000 after acquiring an additional 466 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its stake in BridgeBio Pharma by 85.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company’s stock worth $28,000 after purchasing an additional 472 shares during the period. Mackenzie Financial Corp grew its position in BridgeBio Pharma by 6.6% during the 4th quarter. Mackenzie Financial Corp now owns 9,505 shares of the company’s stock worth $261,000 after purchasing an additional 592 shares in the last quarter. Finally, Xponance Inc. raised its stake in BridgeBio Pharma by 9.1% during the 4th quarter. Xponance Inc. now owns 10,089 shares of the company’s stock valued at $277,000 after purchasing an additional 844 shares during the period. Hedge funds and other institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Price Performance

Shares of NASDAQ BBIO opened at $37.22 on Friday. The firm has a market capitalization of $7.08 billion, a PE ratio of -13.06 and a beta of 1.07. BridgeBio Pharma has a 1-year low of $21.62 and a 1-year high of $39.47. The business’s fifty day moving average price is $34.15 and its two-hundred day moving average price is $29.12.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings results on Thursday, February 20th. The company reported ($1.31) EPS for the quarter, missing the consensus estimate of ($1.09) by ($0.22). The firm had revenue of $5.88 million for the quarter, compared to analyst estimates of $4.04 million. Equities research analysts expect that BridgeBio Pharma will post -3.67 earnings per share for the current fiscal year.

BridgeBio Pharma Company Profile

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.