Analysts Set BridgeBio Pharma, Inc. (NASDAQ:BBIO) Price Target at $47.82

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) have been given an average recommendation of “Moderate Buy” by the ten ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $47.82.

A number of equities analysts have issued reports on the stock. Cantor Fitzgerald raised their price objective on shares of BridgeBio Pharma from $60.00 to $70.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. JPMorgan Chase & Co. raised their price objective on shares of BridgeBio Pharma from $35.00 to $45.00 and gave the company an “overweight” rating in a research note on Wednesday, March 20th. Raymond James assumed coverage on shares of BridgeBio Pharma in a research note on Thursday, March 21st. They issued an “outperform” rating and a $45.00 price objective on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $47.00 price objective on shares of BridgeBio Pharma in a research note on Monday, March 4th. Finally, Mizuho reduced their price target on shares of BridgeBio Pharma from $60.00 to $53.00 and set a “buy” rating on the stock in a research report on Tuesday, March 5th.

Insider Activity at BridgeBio Pharma

In other BridgeBio Pharma news, Director Randal W. Scott sold 2,500 shares of BridgeBio Pharma stock in a transaction on Friday, March 1st. The shares were sold at an average price of $34.00, for a total value of $85,000.00. Following the sale, the director now directly owns 6,500 shares in the company, valued at approximately $221,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 28.52% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Arizona State Retirement System increased its stake in shares of BridgeBio Pharma by 1.6% during the 3rd quarter. Arizona State Retirement System now owns 25,134 shares of the company’s stock worth $663,000 after purchasing an additional 386 shares during the last quarter. Diversified Trust Co grew its stake in BridgeBio Pharma by 2.5% in the 3rd quarter. Diversified Trust Co now owns 17,111 shares of the company’s stock valued at $451,000 after buying an additional 411 shares during the last quarter. Amalgamated Bank grew its stake in BridgeBio Pharma by 3.8% in the 3rd quarter. Amalgamated Bank now owns 15,775 shares of the company’s stock valued at $416,000 after buying an additional 576 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in BridgeBio Pharma by 4.9% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 15,289 shares of the company’s stock valued at $403,000 after buying an additional 720 shares during the last quarter. Finally, Parkman Healthcare Partners LLC grew its stake in BridgeBio Pharma by 0.7% in the 4th quarter. Parkman Healthcare Partners LLC now owns 100,734 shares of the company’s stock valued at $4,067,000 after buying an additional 734 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

BridgeBio Pharma Price Performance

BBIO opened at $27.83 on Wednesday. The stock has a market capitalization of $5.21 billion, a P/E ratio of -8.64 and a beta of 1.08. The company’s 50 day simple moving average is $28.59 and its 200-day simple moving average is $31.82. BridgeBio Pharma has a one year low of $12.75 and a one year high of $44.32.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($0.96) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.09). The company had revenue of $1.74 million for the quarter, compared to analyst estimates of $4.78 million. BridgeBio Pharma’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.92) earnings per share. As a group, analysts anticipate that BridgeBio Pharma will post -3.09 EPS for the current 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.