BridgeBio Pharma, Inc. (NASDAQ:BBIO) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) have been assigned a consensus recommendation of “Moderate Buy” from the twelve analysts that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $53.00.

Several research analysts have issued reports on BBIO shares. Redburn Atlantic began coverage on BridgeBio Pharma in a report on Monday, March 31st. They issued a “buy” rating and a $50.00 price target on the stock. HC Wainwright increased their target price on BridgeBio Pharma from $49.00 to $53.00 and gave the stock a “buy” rating in a report on Tuesday, April 15th. Cantor Fitzgerald restated an “overweight” rating and set a $95.00 price target on shares of BridgeBio Pharma in a research note on Friday, February 21st. Scotiabank upped their price objective on shares of BridgeBio Pharma from $49.00 to $52.00 and gave the stock a “sector outperform” rating in a report on Friday, February 21st. Finally, Evercore ISI lifted their price objective on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the company an “outperform” rating in a report on Monday, December 23rd.

Insiders Place Their Bets

In other news, CEO Neil Kumar sold 75,000 shares of the firm’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $36.87, for a total transaction of $2,765,250.00. Following the completion of the sale, the chief executive officer now directly owns 4,948,447 shares of the company’s stock, valued at $182,449,240.89. This trade represents a 1.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Brian C. Stephenson sold 68,000 shares of BridgeBio Pharma 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 sale, the chief financial officer now owns 93,758 shares in the company, valued at $3,402,477.82. The trade was a 42.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,694,739 shares of company stock valued at $327,308,651 in the last 90 days. 24.66% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BBIO. Farallon Capital Management LLC lifted its stake in BridgeBio Pharma by 140.1% in the fourth quarter. Farallon Capital Management LLC now owns 4,195,000 shares of the company’s stock valued at $115,111,000 after purchasing an additional 2,448,000 shares during the last quarter. Woodline Partners LP raised its stake in shares of BridgeBio Pharma by 132.9% in the fourth quarter. Woodline Partners LP now owns 2,211,521 shares of the company’s stock valued at $60,684,000 after buying an additional 1,261,772 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of BridgeBio Pharma by 4,544.6% in the first quarter. Assenagon Asset Management S.A. now owns 1,120,933 shares of the company’s stock valued at $38,751,000 after buying an additional 1,096,799 shares during the period. Norges Bank purchased a new position in shares of BridgeBio Pharma during the 4th quarter valued at $29,237,000. Finally, Alyeska Investment Group L.P. bought a new position in shares of BridgeBio Pharma during the 4th quarter worth $25,805,000. 99.85% of the stock is owned by institutional investors.

BridgeBio Pharma Stock Up 0.1 %

Shares of NASDAQ BBIO opened at $33.87 on Wednesday. The firm has a market cap of $6.44 billion, a PE ratio of -11.88 and a beta of 1.08. The company’s fifty day simple moving average is $33.79 and its 200 day simple moving average is $30.14. BridgeBio Pharma has a 12-month low of $21.62 and a 12-month high of $39.47.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($1.31) earnings per share 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 analysts’ expectations of $4.04 million. On average, equities analysts predict 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.