BridgeBio Pharma (NASDAQ:BBIO) Reaches New 52-Week High – What’s Next?

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) reached a new 52-week high on Thursday . The stock traded as high as $86.50 and last traded at $87.3180, with a volume of 628774 shares changing hands. The stock had previously closed at $78.33.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Royal Bank Of Canada assumed coverage on BridgeBio Pharma in a research note on Thursday, April 9th. They issued an “outperform” rating and a $100.00 price target on the stock. Citigroup started coverage on shares of BridgeBio Pharma in a report on Tuesday, May 19th. They issued a “neutral” rating and a $82.00 target price on the stock. Raymond James Financial cut shares of BridgeBio Pharma from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 26th. Truist Financial lifted their price target on shares of BridgeBio Pharma from $95.00 to $102.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of BridgeBio Pharma in a research report on Friday, May 15th. Twenty-one investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $92.90.

BridgeBio Pharma Price Performance

The stock has a market cap of $17.56 billion, a price-to-earnings ratio of -23.73 and a beta of 0.95. The firm has a 50 day simple moving average of $69.05 and a two-hundred day simple moving average of $71.93.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly 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 the consensus estimate of $178.07 million. BridgeBio Pharma’s revenue was up 66.8% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.88) earnings per share. On average, sell-side analysts expect that BridgeBio Pharma, Inc. will post -2.29 earnings per share for the current fiscal year.

Insider Activity at BridgeBio Pharma

In other news, Director Randal W. Scott sold 10,000 shares of BridgeBio Pharma stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $67.15, for a total value of $671,500.00. Following the sale, the director directly owned 11,589 shares in the company, valued at $778,201.35. This trade represents a 46.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jennifer E. Cook sold 90,240 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $66.62, for a total transaction of $6,011,788.80. Following the transaction, the director owned 6,589 shares of the company’s stock, valued at $438,959.18. The trade was a 93.20% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 266,361 shares of company stock worth $18,035,642. 14.23% of the stock is currently owned by corporate insiders.

Institutional Trading of BridgeBio Pharma

Several institutional investors and hedge funds have recently bought and sold shares of BBIO. Harvest Fund Management Co. Ltd acquired a new position in shares of BridgeBio Pharma during the 3rd quarter worth approximately $34,000. Jones Financial Companies Lllp bought a new position in shares of BridgeBio Pharma in the first quarter valued at $35,000. Farther Finance Advisors LLC increased its holdings in BridgeBio Pharma by 91.4% during the fourth quarter. Farther Finance Advisors LLC now owns 513 shares of the company’s stock worth $39,000 after buying an additional 245 shares during the last quarter. Global Retirement Partners LLC increased its holdings in BridgeBio Pharma by 271.5% during the fourth quarter. Global Retirement Partners LLC now owns 509 shares of the company’s stock worth $39,000 after buying an additional 372 shares during the last quarter. Finally, Kemnay Advisory Services Inc. bought a new stake in BridgeBio Pharma during the fourth quarter worth $41,000. Institutional investors 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.