TD Cowen Boosts BridgeBio Pharma (NASDAQ:BBIO) Price Target to $95.00

BridgeBio Pharma (NASDAQ:BBIO) had its price target increased by equities researchers at TD Cowen from $60.00 to $95.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen’s price target would suggest a potential upside of 51.66% from the stock’s previous close.

A number of other research analysts have also recently issued reports on BBIO. Truist Financial reiterated a “buy” rating and set a $80.00 price objective (up previously from $66.00) on shares of BridgeBio Pharma in a research note on Thursday. HC Wainwright lifted their price objective on BridgeBio Pharma from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, October 27th. The Goldman Sachs Group lifted their price objective on BridgeBio Pharma from $55.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday. Weiss Ratings reiterated a “sell (d-)” rating on shares of BridgeBio Pharma in a research note on Wednesday, October 8th. Finally, Piper Sandler lifted their price objective on BridgeBio Pharma from $93.00 to $98.00 and gave the company an “overweight” rating in a research note on Thursday. Twenty equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $73.05.

BridgeBio Pharma Stock Down 1.2%

BBIO stock opened at $62.64 on Thursday. The business has a 50 day moving average of $53.91 and a 200 day moving average of $45.53. The firm has a market cap of $12.07 billion, a PE ratio of -14.99 and a beta of 1.36. BridgeBio Pharma has a twelve month low of $21.72 and a twelve month high of $69.48.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings data on Wednesday, October 29th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.07). The business had revenue of $108.11 million during the quarter, compared to analyst estimates of $107.71 million. The company’s revenue was up 4318.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.86) EPS. On average, research analysts expect that BridgeBio Pharma will post -3.67 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Charles J. Homcy sold 50,000 shares of the firm’s stock in a transaction on Monday, August 11th. The stock was sold at an average price of $48.00, for a total value of $2,400,000.00. Following the transaction, the director directly owned 916,674 shares in the company, valued at $44,000,352. This trade represents a 5.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Thomas Trimarchi sold 42,237 shares of the firm’s stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $49.48, for a total value of $2,089,886.76. Following the completion of the transaction, the chief financial officer owned 421,081 shares in the company, valued at approximately $20,835,087.88. This trade represents a 9.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 797,913 shares of company stock worth $42,347,634 in the last 90 days. 18.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BridgeBio Pharma

A number of institutional investors and hedge funds have recently modified their holdings of the company. Strs Ohio boosted its stake in shares of BridgeBio Pharma by 1.1% in the 3rd quarter. Strs Ohio now owns 18,600 shares of the company’s stock worth $966,000 after buying an additional 200 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of BridgeBio Pharma by 28.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,020 shares of the company’s stock worth $53,000 after buying an additional 227 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its stake in shares of BridgeBio Pharma by 22.3% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,250 shares of the company’s stock worth $54,000 after buying an additional 228 shares during the last quarter. Gabelli Funds LLC boosted its stake in shares of BridgeBio Pharma by 0.3% in the 2nd quarter. Gabelli Funds LLC now owns 73,750 shares of the company’s stock worth $3,185,000 after buying an additional 250 shares during the last quarter. Finally, First Bank & Trust boosted its stake in shares of BridgeBio Pharma by 3.9% in the 2nd quarter. First Bank & Trust now owns 8,822 shares of the company’s stock worth $381,000 after buying an additional 329 shares during the last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

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.