Brokerages Set BridgeBio Pharma, Inc. (NASDAQ:BBIO) Price Target at $57.42

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) have been assigned a consensus recommendation of “Moderate Buy” from the fourteen research firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $58.85.

Several research firms recently weighed in on BBIO. Piper Sandler lifted their target price on shares of BridgeBio Pharma from $46.00 to $63.00 and gave the company an “overweight” rating in a report on Wednesday, April 30th. Redburn Atlantic assumed coverage on BridgeBio Pharma in a research note on Monday, March 31st. They issued a “buy” rating and a $50.00 price objective for the company. Scotiabank boosted their price objective on BridgeBio Pharma from $52.00 to $55.00 and gave the company a “sector outperform” rating in a report on Wednesday, April 30th. UBS Group raised their target price on BridgeBio Pharma from $65.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, April 30th. Finally, Wells Fargo & Company lifted their target price on BridgeBio Pharma from $67.00 to $76.00 and gave the company an “overweight” rating in a research report on Monday.

Insider Buying and Selling at BridgeBio Pharma

In other BridgeBio Pharma news, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $34.20, for a total transaction of $205,200,000.00. Following the completion of the transaction, the insider owned 13,260,971 shares in the company, valued at $453,525,208.20. The trade was a 31.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Neil Kumar sold 75,000 shares of the stock in a transaction that occurred on Tuesday, April 22nd. The shares were sold at an average price of $34.11, for a total transaction of $2,558,250.00. Following the completion of the sale, the chief executive officer directly owned 4,873,447 shares in the company, valued at approximately $166,233,277.17. This represents a 1.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,896,181 shares of company stock valued at $374,176,564. 18.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BridgeBio Pharma

Several institutional investors have recently modified their holdings of the company. Steward Partners Investment Advisory LLC increased its holdings in BridgeBio Pharma by 85.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company’s stock valued at $28,000 after buying an additional 472 shares during the last quarter. GAMMA Investing LLC lifted its holdings in BridgeBio Pharma by 71.0% during the 1st quarter. GAMMA Investing LLC now owns 920 shares of the company’s stock worth $32,000 after buying an additional 382 shares during the last quarter. Jones Financial Companies Lllp acquired a new position in shares of BridgeBio Pharma during the 1st quarter worth about $35,000. Itau Unibanco Holding S.A. acquired a new position in shares of BridgeBio Pharma during the 4th quarter worth about $41,000. Finally, Sterling Capital Management LLC raised its position in shares of BridgeBio Pharma by 554.6% during the 4th quarter. Sterling Capital Management LLC now owns 1,787 shares of the company’s stock worth $49,000 after acquiring an additional 1,514 shares in the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

BridgeBio Pharma Trading Up 0.1%

Shares of BBIO opened at $42.83 on Monday. The company’s 50-day moving average price is $37.63 and its 200 day moving average price is $34.41. BridgeBio Pharma has a 12-month low of $21.72 and a 12-month high of $45.48. The firm has a market cap of $8.13 billion, a P/E ratio of -12.13 and a beta of 1.15.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings results on Tuesday, April 29th. The company reported ($0.88) earnings per share for the quarter, beating analysts’ consensus estimates 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. BridgeBio Pharma’s revenue was down 44.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.20) earnings per share. Equities research analysts forecast that BridgeBio Pharma will post -3.67 earnings per share for the current 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.