BridgeBio Pharma, Inc. (NASDAQ:BBIO) Receives Consensus Rating of “Moderate Buy” from Brokerages

BridgeBio Pharma, Inc. (NASDAQ:BBIO) has earned an average recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $57.36.

Several research analysts recently weighed in on BBIO shares. UBS Group upped their price objective on shares of BridgeBio Pharma from $65.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, April 30th. Wall Street Zen upgraded shares of BridgeBio Pharma from a “sell” rating to a “hold” rating in a research report on Saturday. Scotiabank upped their price objective on shares of BridgeBio Pharma from $52.00 to $55.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, April 30th. Piper Sandler upped their price objective on shares of BridgeBio Pharma from $46.00 to $63.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 30th. Finally, Citigroup upped their price objective on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, February 21st.

Insider Buying and Selling at BridgeBio Pharma

In other news, CAO Maricel Apuli sold 1,026 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $38.51, for a total transaction of $39,511.26. Following the completion of the sale, the chief accounting officer now owns 147,639 shares of the company’s stock, valued at approximately $5,685,577.89. This represents a 0.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Neil Kumar sold 75,000 shares of the stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $36.87, for a total value of $2,765,250.00. Following the sale, the chief executive officer now directly owns 4,948,447 shares of the company’s stock, valued at approximately $182,449,240.89. This trade represents a 1.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,392,182 shares of company stock worth $219,161,291 over the last ninety days. Insiders own 18.20% of the company’s stock.

Institutional Trading of BridgeBio Pharma

Institutional investors have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC boosted its stake in shares of BridgeBio Pharma by 85.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company’s stock valued at $28,000 after purchasing an additional 472 shares during the period. GAMMA Investing LLC boosted its stake in shares of BridgeBio Pharma by 71.0% during the first quarter. GAMMA Investing LLC now owns 920 shares of the company’s stock valued at $32,000 after purchasing an additional 382 shares during the period. Jones Financial Companies Lllp purchased a new stake in shares of BridgeBio Pharma during the first quarter valued at approximately $35,000. Itau Unibanco Holding S.A. purchased a new stake in BridgeBio Pharma in the fourth quarter worth $41,000. Finally, Sterling Capital Management LLC lifted its stake in BridgeBio Pharma by 554.6% in the fourth 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 during the period. Hedge funds and other institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Trading Up 1.1%

Shares of BridgeBio Pharma stock opened at $39.03 on Thursday. BridgeBio Pharma has a 12-month low of $21.62 and a 12-month high of $39.85. The company has a market cap of $7.41 billion, a price-to-earnings ratio of -13.69 and a beta of 1.10. The company’s 50-day moving average price is $34.64 and its 200-day moving average price is $32.82.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings data on Tuesday, April 29th. The company reported ($0.88) earnings per share for the quarter, topping the consensus estimate of ($1.00) by $0.12. The company had revenue of $36.74 million during the quarter, compared to the consensus estimate of $57.14 million. The firm’s revenue for the quarter was down 44.8% on a year-over-year basis. During the same quarter last year, the company posted ($0.20) earnings per share. On average, sell-side analysts predict that BridgeBio Pharma will post -3.67 earnings per share 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.