BridgeBio Pharma (NASDAQ:BBIO) Hits New 12-Month High – Time to Buy?

BridgeBio Pharma, Inc. (NASDAQ:BBIO) shares reached a new 52-week high during trading on Monday . The stock traded as high as $75.61 and last traded at $74.8140, with a volume of 406545 shares traded. The stock had previously closed at $75.15.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on BBIO shares. The Goldman Sachs Group raised their price objective on BridgeBio Pharma from $55.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Evercore ISI reaffirmed an “outperform” rating on shares of BridgeBio Pharma in a research report on Monday, October 27th. Leerink Partners set a $68.00 target price on shares of BridgeBio Pharma and gave the company an “outperform” rating in a research report on Monday, October 27th. HC Wainwright reaffirmed a “buy” rating and set a $90.00 price target on shares of BridgeBio Pharma in a research report on Monday, November 3rd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of BridgeBio Pharma in a research report on Wednesday, October 8th. Twenty-one investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, BridgeBio Pharma has a consensus rating of “Moderate Buy” and a consensus price target of $75.35.

BridgeBio Pharma Stock Performance

The stock has a 50 day moving average of $64.09 and a 200-day moving average of $52.83. The company has a market cap of $14.43 billion, a PE ratio of -17.91 and a beta of 1.25.

BridgeBio Pharma (NASDAQ:BBIO) last posted 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 business had revenue of $120.70 million during the quarter, compared to analyst estimates of $107.71 million. During the same quarter in the previous year, the firm posted ($0.86) EPS. The business’s revenue was up 4318.0% on a year-over-year basis. Equities research analysts forecast that BridgeBio Pharma, Inc. will post -3.67 EPS for the current year.

Insider Activity at BridgeBio Pharma

In other BridgeBio Pharma news, Director Frank Mccormick sold 198,359 shares of BridgeBio Pharma stock in a transaction that occurred on 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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Ronald J. Daniels sold 61,031 shares of the stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $63.72, for a total transaction of $3,888,895.32. Following the completion of the sale, the director owned 16,991 shares in the company, valued at $1,082,666.52. The trade was a 78.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 557,204 shares of company stock worth $36,561,480 in the last ninety days. 18.20% of the stock is owned by company insiders.

Institutional Trading of BridgeBio Pharma

A number of hedge funds have recently modified their holdings of BBIO. Norges Bank purchased a new stake in BridgeBio Pharma during the second quarter worth $84,488,000. Driehaus Capital Management LLC acquired a new stake in shares of BridgeBio Pharma during the 1st quarter valued at about $51,874,000. Invesco Ltd. increased its stake in shares of BridgeBio Pharma by 40.3% in the 3rd quarter. Invesco Ltd. now owns 3,928,657 shares of the company’s stock valued at $204,054,000 after purchasing an additional 1,127,592 shares in the last quarter. Polar Capital Holdings Plc acquired a new position in BridgeBio Pharma in the 3rd quarter worth about $50,956,000. Finally, Wellington Management Group LLP boosted its position in BridgeBio Pharma by 1,698.5% during the third quarter. Wellington Management Group LLP now owns 1,019,194 shares of the company’s stock worth $52,937,000 after purchasing an additional 962,525 shares in the last quarter. 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.