Brokerages Set BridgeBio Pharma, Inc. (NASDAQ:BBIO) PT at $95.21

BridgeBio Pharma, Inc. (NASDAQ:BBIO) has earned an average rating of “Moderate Buy” from the twenty-two analysts that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and nineteen have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $97.3333.

A number of brokerages have weighed in on BBIO. Citigroup boosted their price objective on BridgeBio Pharma from $82.00 to $93.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Truist Financial raised their target price on shares of BridgeBio Pharma from $95.00 to $102.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Canaccord Genuity Group initiated coverage on shares of BridgeBio Pharma in a report on Wednesday, June 3rd. They issued a “buy” rating and a $104.00 target price on the stock. HC Wainwright upped their price target on shares of BridgeBio Pharma from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, July 13th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of BridgeBio Pharma in a research note on Friday, May 15th.

BridgeBio Pharma Price Performance

Shares of BBIO opened at $84.48 on Tuesday. The firm has a fifty day moving average price of $75.69 and a 200 day moving average price of $73.00. The stock has a market cap of $16.51 billion, a PE ratio of -22.59 and a beta of 0.96. BridgeBio Pharma has a 1-year low of $45.40 and a 1-year high of $93.42.

BridgeBio Pharma (NASDAQ:BBIO) last posted its earnings results on Thursday, May 7th. The company reported ($0.84) EPS for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.14). The firm had revenue of $194.51 million during the quarter, compared to analyst estimates of $178.07 million. The business’s quarterly revenue was up 66.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.88) EPS. As a group, equities analysts expect that BridgeBio Pharma will post -2.31 EPS for the current fiscal year.

Insider Buying and Selling at BridgeBio Pharma

In related news, CAO Maricel Apuli sold 2,000 shares of the firm’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $80.06, for a total transaction of $160,120.00. Following the transaction, the chief accounting officer owned 127,401 shares of the company’s stock, valued at $10,199,724.06. This trade represents a 1.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Neil Kumar sold 40,000 shares of the business’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $67.46, for a total value of $2,698,400.00. Following the completion of the transaction, the chief executive officer owned 535,686 shares in the company, valued at $36,137,377.56. This trade represents a 6.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 392,117 shares of company stock valued at $29,934,700. Corporate insiders own 14.23% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Brooklands Fund Management Ltd purchased a new position in BridgeBio Pharma during the 4th quarter worth $210,348,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of BridgeBio Pharma by 144.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,828,746 shares of the company’s stock valued at $292,862,000 after acquiring an additional 2,261,181 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of BridgeBio Pharma by 25.8% during the fourth quarter. Janus Henderson Group PLC now owns 11,000,457 shares of the company’s stock worth $841,349,000 after acquiring an additional 2,259,378 shares during the period. Norges Bank acquired a new position in shares of BridgeBio Pharma during the fourth quarter worth about $116,802,000. Finally, Wellington Management Group LLP raised its holdings in BridgeBio Pharma by 130.4% during the fourth quarter. Wellington Management Group LLP now owns 2,348,731 shares of the company’s stock worth $179,654,000 after purchasing an additional 1,329,537 shares in the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

BridgeBio Pharma Company Profile

BridgeBio Pharma, Inc is a clinical-stage biopharmaceutical company headquartered in Palo Alto, California. Founded in 2015 by Neil Kumar, the company is dedicated to discovering, developing and delivering transformative medicines for patients with genetic diseases and cancers. BridgeBio operates an integrated model that spans target identification, preclinical research, clinical development and commercialization, aiming to streamline the process from bench to bedside.

BridgeBio’s pipeline comprises multiple therapeutic modalities, including small molecules, biologics and genetic therapies.