Brokerages Set BridgeBio Pharma, Inc. (NASDAQ:BBIO) PT at $63.94

BridgeBio Pharma, Inc. (NASDAQ:BBIO) has been given an average recommendation of “Moderate Buy” by the eighteen analysts that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating and seventeen have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $63.9412.

A number of equities research analysts have recently commented on the stock. Bank of America increased their price target on shares of BridgeBio Pharma from $50.00 to $54.00 and gave the company a “buy” rating in a report on Wednesday, June 25th. Cantor Fitzgerald reiterated an “overweight” rating and set a $95.00 price target on shares of BridgeBio Pharma in a report on Tuesday, July 29th. Raymond James Financial assumed coverage on shares of BridgeBio Pharma in a report on Wednesday, July 30th. They set an “outperform” rating and a $56.00 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of BridgeBio Pharma in a report on Wednesday, October 8th. Finally, Citigroup raised their target price on shares of BridgeBio Pharma from $58.00 to $67.00 and gave the stock a “buy” rating in a report on Friday, July 11th.

BridgeBio Pharma Trading Up 1.3%

NASDAQ BBIO opened at $55.49 on Wednesday. The stock’s fifty day moving average price is $51.09 and its 200-day moving average price is $42.98. BridgeBio Pharma has a 12 month low of $21.72 and a 12 month high of $55.94. The stock has a market cap of $10.61 billion, a P/E ratio of -13.57 and a beta of 1.36.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings results on Tuesday, August 5th. The company reported ($0.95) EPS for the quarter, missing analysts’ consensus estimates of ($0.83) by ($0.12). The firm had revenue of $110.57 million for the quarter, compared to analysts’ expectations of $98.46 million. During the same quarter last year, the firm posted ($0.39) EPS. The firm’s revenue was up 4999.9% on a year-over-year basis. As a group, analysts forecast that BridgeBio Pharma will post -3.67 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Maricel Apuli sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $45.44, for a total value of $45,440.00. Following the sale, the chief accounting officer owned 141,859 shares in the company, valued at approximately $6,446,072.96. This trade represents a 0.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Neil Kumar sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $54.78, for a total transaction of $2,191,200.00. Following the completion of the sale, the chief executive officer owned 855,686 shares in the company, valued at $46,874,479.08. This represents a 4.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 597,913 shares of company stock valued at $29,034,227 in the last ninety days. Corporate insiders own 18.20% of the company’s stock.

Institutional Investors Weigh In On BridgeBio Pharma

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its stake in shares of BridgeBio Pharma by 5,811.5% during the 1st quarter. GAMMA Investing LLC now owns 31,804 shares of the company’s stock worth $1,099,000 after acquiring an additional 31,266 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of BridgeBio Pharma by 0.5% during the 1st quarter. Rhumbline Advisers now owns 220,128 shares of the company’s stock worth $7,610,000 after acquiring an additional 1,008 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of BridgeBio Pharma by 4,544.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,120,933 shares of the company’s stock worth $38,751,000 after acquiring an additional 1,096,799 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in shares of BridgeBio Pharma by 29.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 30,802 shares of the company’s stock worth $1,065,000 after acquiring an additional 6,997 shares during the last quarter. Finally, Diversified Trust Co boosted its stake in shares of BridgeBio Pharma by 25.3% during the 1st quarter. Diversified Trust Co now owns 34,866 shares of the company’s stock worth $1,205,000 after acquiring an additional 7,039 shares during the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

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.