BridgeBio Pharma, Inc. (NASDAQ:BBIO) Receives Consensus Recommendation of “Buy” from Analysts

BridgeBio Pharma, Inc. (NASDAQ:BBIO) has been assigned an average recommendation of “Buy” from the sixteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Sixteen research analysts have rated the stock with a buy rating. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $61.50.

A number of equities analysts have recently commented on BBIO shares. Wall Street Zen lowered shares of BridgeBio Pharma from a “hold” rating to a “sell” rating in a report on Saturday. Truist Financial began coverage on shares of BridgeBio Pharma in a research note on Monday, July 21st. They issued a “buy” rating and a $66.00 target price on the stock. UBS Group upped their target price on shares of BridgeBio Pharma from $65.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, April 30th. Piper Sandler increased their target price on shares of BridgeBio Pharma from $63.00 to $68.00 and gave the company an “overweight” rating in a report on Monday, July 14th. Finally, Jefferies Financial Group assumed coverage on shares of BridgeBio Pharma in a research report on Monday, July 14th. They issued a “buy” rating and a $70.00 target price for the company.

Insider Activity at BridgeBio Pharma

In related news, Director Hannah Valantine sold 2,289 shares of the business’s stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $44.05, for a total transaction of $100,830.45. Following the completion of the sale, the director directly owned 398 shares in the company, valued at approximately $17,531.90. The trade was a 85.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of BridgeBio Pharma 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 transaction, the insider directly owned 13,260,971 shares in the company, valued at $453,525,208.20. This represents a 31.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,851,181 shares of company stock valued at $372,969,914 in the last three months. Corporate insiders own 18.20% of the company’s stock.

Institutional Investors Weigh In On BridgeBio Pharma

A number of hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC grew its holdings in shares of BridgeBio Pharma by 71.0% in the first quarter. GAMMA Investing LLC now owns 920 shares of the company’s stock worth $32,000 after purchasing an additional 382 shares during the last quarter. Jones Financial Companies Lllp acquired a new position in BridgeBio Pharma in the 1st quarter worth approximately $35,000. Itau Unibanco Holding S.A. acquired a new stake in shares of BridgeBio Pharma during the 4th quarter worth approximately $41,000. Sterling Capital Management LLC increased its holdings 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 valued at $49,000 after purchasing an additional 1,514 shares in the last quarter. Finally, GF Fund Management CO. LTD. purchased a new position in shares of BridgeBio Pharma during the 4th quarter valued at approximately $109,000. Hedge funds and other institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Stock Up 0.2%

BridgeBio Pharma stock opened at $46.32 on Friday. BridgeBio Pharma has a twelve month low of $21.72 and a twelve month high of $48.68. The company’s 50-day moving average price is $41.48 and its two-hundred day moving average price is $36.81. The stock has a market cap of $8.80 billion, a P/E ratio of -13.12 and a beta of 1.15.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings results on Tuesday, April 29th. The company reported ($0.88) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.00) by $0.12. The firm had revenue of $36.74 million for the quarter, compared to analyst estimates of $57.14 million. During the same quarter in the prior year, the business posted ($0.20) EPS. The business’s revenue was down 44.8% on a year-over-year basis. Equities 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.