Brokerages Set BridgeBio Pharma, Inc. (NASDAQ:BBIO) Target Price 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 presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $47.82.

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. increased their price objective on BridgeBio Pharma from $35.00 to $45.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. BMO Capital Markets started coverage on BridgeBio Pharma in a research report on Wednesday, January 31st. They issued a “market perform” rating and a $37.00 price target for the company. Raymond James began coverage on shares of BridgeBio Pharma in a research note on Thursday, March 21st. They set an “outperform” rating and a $45.00 price objective for the company. Cantor Fitzgerald boosted their price target on shares of BridgeBio Pharma from $60.00 to $70.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. Finally, 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.

Insiders Place Their Bets

In other news, Director Randal W. Scott sold 2,500 shares of BridgeBio Pharma stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $34.00, for a total transaction of $85,000.00. Following the completion of the sale, the director now directly owns 6,500 shares in the company, valued at approximately $221,000. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 28.52% of the company’s stock.

Institutional Investors Weigh In On BridgeBio Pharma

Several institutional investors and hedge funds have recently modified their holdings of BBIO. Campbell & CO Investment Adviser LLC bought a new position in BridgeBio Pharma during the third quarter valued at about $403,000. Moody Aldrich Partners LLC boosted its holdings in BridgeBio Pharma by 72.2% in the 3rd quarter. Moody Aldrich Partners LLC now owns 137,512 shares of the company’s stock valued at $3,626,000 after purchasing an additional 57,639 shares during the period. The Manufacturers Life Insurance Company grew its position in BridgeBio Pharma by 170.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 665,604 shares of the company’s stock worth $17,552,000 after purchasing an additional 419,813 shares during the last quarter. Primecap Management Co. CA increased its holdings in shares of BridgeBio Pharma by 34.9% during the 3rd quarter. Primecap Management Co. CA now owns 938,700 shares of the company’s stock worth $24,754,000 after purchasing an additional 242,608 shares during the period. Finally, Boone Capital Management LLC acquired a new position in BridgeBio Pharma in the 3rd quarter valued at approximately $8,264,000. Institutional investors and hedge funds own 99.85% of the company’s stock.

BridgeBio Pharma Stock Down 1.1 %

NASDAQ:BBIO opened at $27.79 on Wednesday. The business’s 50-day moving average price is $28.30 and its 200 day moving average price is $31.87. BridgeBio Pharma has a 52-week low of $12.75 and a 52-week high of $44.32. The firm has a market cap of $5.20 billion, a P/E ratio of -8.63 and a beta of 1.08.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.87) by ($0.09). The firm had revenue of $1.74 million for the quarter, compared to the consensus estimate of $4.78 million. During the same quarter in the prior year, the company earned ($0.92) earnings per share. BridgeBio Pharma’s revenue was down 8.4% on a year-over-year basis. Sell-side analysts expect that BridgeBio Pharma will post -3.09 EPS for the current year.

BridgeBio Pharma Company Profile

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.