BridgeBio Pharma, Inc. (NASDAQ:BBIO) Receives $57.09 Average Price Target from Brokerages

BridgeBio Pharma, Inc. (NASDAQ:BBIO) has received a consensus recommendation of “Moderate Buy” from the twelve research firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $57.09.

A number of equities research analysts have weighed in on BBIO shares. JPMorgan Chase & Co. upped their target price on BridgeBio Pharma from $44.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, March 24th. HC Wainwright boosted their price target on shares of BridgeBio Pharma from $49.00 to $53.00 and gave the stock a “buy” rating in a research report on Tuesday, April 15th. Cantor Fitzgerald reissued an “overweight” rating and issued a $95.00 price target on shares of BridgeBio Pharma in a report on Friday, February 21st. Scotiabank lifted their price objective on shares of BridgeBio Pharma from $52.00 to $55.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, April 30th. Finally, Redburn Atlantic initiated coverage on shares of BridgeBio Pharma in a research note on Monday, March 31st. They set a “buy” rating and a $50.00 target price for the company.

Insider Activity

In other BridgeBio Pharma news, CEO Neil Kumar sold 31,543 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $36.14, for a total transaction of $1,139,964.02. Following the completion of the sale, the chief executive officer now directly owns 211,718 shares in the company, valued at approximately $7,651,488.52. This trade represents a 12.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Maricel Apuli sold 1,026 shares of the company’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $38.51, for a total transaction of $39,511.26. Following the completion of the transaction, the chief accounting officer now owns 147,639 shares in the company, valued at approximately $5,685,577.89. This represents a 0.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,410,217 shares of company stock worth $212,434,332 over the last 90 days. 24.66% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Barclays PLC increased its holdings in shares of BridgeBio Pharma by 31.9% during the 3rd quarter. Barclays PLC now owns 545,008 shares of the company’s stock valued at $13,876,000 after acquiring an additional 131,743 shares during the last quarter. Principal Financial Group Inc. grew its stake in BridgeBio Pharma by 1.8% in the 3rd quarter. Principal Financial Group Inc. now owns 1,145,123 shares of the company’s stock valued at $29,155,000 after buying an additional 19,978 shares during the last quarter. Avanza Fonder AB bought a new position in BridgeBio Pharma in the 4th quarter worth $181,000. Moss Adams Wealth Advisors LLC acquired a new position in BridgeBio Pharma during the 4th quarter worth $208,000. Finally, Atomi Financial Group Inc. bought a new stake in BridgeBio Pharma during the fourth quarter valued at about $392,000. Institutional investors and hedge funds own 99.85% of the company’s stock.

BridgeBio Pharma Stock Down 6.8%

Shares of NASDAQ BBIO opened at $33.26 on Friday. The stock has a market cap of $6.32 billion, a P/E ratio of -11.67 and a beta of 1.15. The firm’s 50-day simple moving average is $34.31 and its 200 day simple moving average is $31.39. BridgeBio Pharma has a fifty-two week low of $21.62 and a fifty-two week high of $39.54.

BridgeBio Pharma (NASDAQ:BBIO) last released its earnings results on Tuesday, April 29th. The company reported ($0.88) EPS for the quarter, beating the consensus estimate of ($1.00) by $0.12. The company had revenue of $36.74 million for the quarter, compared to analyst estimates of $57.14 million. The firm’s quarterly revenue was down 44.8% on a year-over-year basis. During the same period in the previous year, the business posted ($0.20) EPS. On average, sell-side analysts anticipate that BridgeBio Pharma will post -3.67 earnings per share for the current fiscal year.

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.