BridgeBio Pharma (NASDAQ:BBIO) Reaches New 12-Month High – Should You Buy?

BridgeBio Pharma, Inc. (NASDAQ:BBIO) shares reached a new 52-week high during trading on Monday . The company traded as high as $72.47 and last traded at $71.7250, with a volume of 94503 shares. The stock had previously closed at $72.01.

Analyst Ratings Changes

BBIO has been the subject of several research reports. Wall Street Zen raised BridgeBio Pharma from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Truist Financial reiterated a “buy” rating and issued a $80.00 price objective (up previously from $66.00) on shares of BridgeBio Pharma in a research note on Thursday, October 30th. HC Wainwright restated a “buy” rating and set a $90.00 target price on shares of BridgeBio Pharma in a research report on Monday, November 3rd. UBS Group upped their price target on shares of BridgeBio Pharma from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, September 12th. Finally, TD Cowen increased their price target on shares of BridgeBio Pharma from $60.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Twenty investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.37.

BridgeBio Pharma Trading Down 0.6%

The company has a market capitalization of $13.80 billion, a PE ratio of -17.19 and a beta of 1.25. The firm has a 50 day simple moving average of $59.75 and a two-hundred day simple moving average of $50.00.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings results on Wednesday, October 29th. The company reported ($0.95) earnings per share for the quarter, missing the consensus estimate of ($0.88) by ($0.07). The company had revenue of $120.70 million during the quarter, compared to analysts’ expectations of $107.71 million. During the same period in the previous year, the company posted ($0.86) earnings per share. BridgeBio Pharma’s revenue for the quarter was up 4318.0% on a year-over-year basis. Research analysts expect that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current fiscal year.

Insider Activity at BridgeBio Pharma

In other news, Director Ronald J. Daniels sold 61,031 shares of the firm’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $63.72, for a total value of $3,888,895.32. Following the completion of the sale, the director owned 16,991 shares in the company, valued at approximately $1,082,666.52. This trade represents a 78.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frank Mccormick sold 198,359 shares of BridgeBio Pharma stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $66.58, for a total transaction of $13,206,742.22. Following the completion of the sale, the director directly owned 679,979 shares in the company, valued at approximately $45,273,001.82. The trade was a 22.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 629,204 shares of company stock worth $39,424,400 in the last 90 days. Corporate insiders own 18.20% of the company’s stock.

Institutional Investors Weigh In On BridgeBio Pharma

Institutional investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of BridgeBio Pharma during the 2nd quarter worth approximately $84,488,000. Driehaus Capital Management LLC acquired a new position in BridgeBio Pharma during the first quarter worth $51,874,000. Invesco Ltd. raised its position in BridgeBio Pharma by 147.0% in the first quarter. Invesco Ltd. now owns 2,206,163 shares of the company’s stock worth $76,267,000 after acquiring an additional 1,313,036 shares in the last quarter. Polar Capital Holdings Plc purchased a new position in BridgeBio Pharma in the third quarter worth $50,956,000. Finally, Wellington Management Group LLP lifted its holdings in BridgeBio Pharma by 1,698.5% in the third quarter. Wellington Management Group LLP now owns 1,019,194 shares of the company’s stock valued at $52,937,000 after acquiring an additional 962,525 shares during the period. Hedge funds and other institutional investors own 99.85% of the company’s stock.

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.