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

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) have been given a consensus rating of “Moderate Buy” by the fourteen analysts that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $48.08.

A number of research analysts have commented on BBIO shares. Evercore ISI upped their price target on BridgeBio Pharma from $45.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, December 23rd. Cantor Fitzgerald reissued an “overweight” rating and set a $70.00 target price on shares of BridgeBio Pharma in a research note on Monday, September 16th. Leerink Partners dropped their target price on BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. HC Wainwright reissued a “buy” rating and set a $49.00 price target on shares of BridgeBio Pharma in a research report on Monday, December 16th. Finally, Bank of America raised their price objective on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, November 25th.

BridgeBio Pharma Stock Performance

Shares of BBIO stock opened at $29.08 on Monday. BridgeBio Pharma has a one year low of $21.62 and a one year high of $41.04. The firm’s 50 day moving average price is $26.81 and its 200-day moving average price is $26.21. The firm has a market cap of $5.50 billion, a P/E ratio of -12.07 and a beta of 1.05.

Insider Activity

In other BridgeBio Pharma news, CEO Neil Kumar sold 27,389 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total value of $613,787.49. Following the transaction, the chief executive officer now directly owns 4,897,443 shares in the company, valued at $109,751,697.63. This represents a 0.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Brian C. Stephenson sold 4,156 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $22.41, for a total transaction of $93,135.96. Following the sale, the chief financial officer now owns 93,758 shares of the company’s stock, valued at $2,101,116.78. This represents a 4.24 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 24.66% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Rhumbline Advisers grew its holdings in shares of BridgeBio Pharma by 19.5% during the second quarter. Rhumbline Advisers now owns 221,403 shares of the company’s stock worth $5,608,000 after purchasing an additional 36,199 shares during the last quarter. Victory Capital Management Inc. increased its position in BridgeBio Pharma by 9.9% during the second quarter. Victory Capital Management Inc. now owns 382,717 shares of the company’s stock worth $9,694,000 after buying an additional 34,360 shares during the period. Arizona State Retirement System lifted its stake in BridgeBio Pharma by 7.6% in the second quarter. Arizona State Retirement System now owns 30,857 shares of the company’s stock valued at $782,000 after buying an additional 2,171 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of BridgeBio Pharma in the second quarter valued at approximately $337,000. Finally, Daiwa Securities Group Inc. grew its position in shares of BridgeBio Pharma by 5,393.7% during the second quarter. Daiwa Securities Group Inc. now owns 35,709 shares of the company’s stock worth $904,000 after acquiring an additional 35,059 shares during the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

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.