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

BridgeBio Pharma, Inc. (NASDAQ:BBIO) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $78.80 and last traded at $77.5750, with a volume of 538724 shares traded. The stock had previously closed at $76.84.

Analysts Set New Price Targets

BBIO has been the subject of a number of recent research reports. Leerink Partners boosted their price target on shares of BridgeBio Pharma from $75.00 to $86.00 and gave the company an “outperform” rating in a research note on Monday, December 15th. Truist Financial upped their target price on shares of BridgeBio Pharma from $80.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, January 8th. Cantor Fitzgerald lifted their price target on BridgeBio Pharma from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Sanford C. Bernstein initiated coverage on BridgeBio Pharma in a report on Thursday, December 11th. They set an “outperform” rating and a $94.00 price objective for the company. Finally, Cowen restated a “buy” rating on shares of BridgeBio Pharma in a report on Monday. Twenty-two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, BridgeBio Pharma has an average rating of “Moderate Buy” and an average price target of $78.85.

BridgeBio Pharma Trading Up 3.0%

The stock’s 50-day moving average price is $71.75 and its two-hundred day moving average price is $58.17. The stock has a market capitalization of $15.25 billion, a P/E ratio of -18.93 and a beta of 1.17.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings data on Wednesday, October 29th. The company reported ($0.95) EPS 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 analyst estimates of $107.71 million. During the same quarter last year, the firm posted ($0.86) EPS. The company’s revenue was up 4318.0% compared to the same quarter last year. On average, equities research analysts predict that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current year.

Insider Activity

In other news, Director Ronald J. Daniels sold 61,031 shares of BridgeBio Pharma stock in a transaction dated 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 transaction, the director owned 16,991 shares in the company, valued at $1,082,666.52. This trade represents a 78.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frank Mccormick sold 198,359 shares of the company’s 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 sale, the director owned 679,979 shares in the company, valued at $45,273,001.82. The trade was a 22.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 587,215 shares of company stock valued at $39,569,101. 18.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BBIO. Vanguard Group Inc. grew its stake in BridgeBio Pharma by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 16,832,059 shares of the company’s stock worth $874,257,000 after buying an additional 347,074 shares in the last quarter. Farallon Capital Management LLC grew its holdings in BridgeBio Pharma by 3.7% in the 3rd quarter. Farallon Capital Management LLC now owns 8,192,000 shares of the company’s stock worth $425,492,000 after acquiring an additional 292,000 shares during the last quarter. Aisling Capital Management LP raised its position in BridgeBio Pharma by 0.4% during the 3rd quarter. Aisling Capital Management LP now owns 6,089,611 shares of the company’s stock valued at $316,294,000 after purchasing an additional 21,486 shares during the last quarter. Invesco Ltd. raised its holdings in shares of BridgeBio Pharma by 40.3% during the third quarter. Invesco Ltd. now owns 3,928,657 shares of the company’s stock valued at $204,054,000 after acquiring an additional 1,127,592 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in BridgeBio Pharma by 5.1% in the second quarter. Geode Capital Management LLC now owns 3,681,580 shares of the company’s stock worth $158,991,000 after buying an additional 178,686 shares in the last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

About BridgeBio Pharma

BridgeBio Pharma, Inc is a clinical-stage biopharmaceutical company headquartered in Palo Alto, California. Founded in 2015 by Neil Kumar, the company is dedicated to discovering, developing and delivering transformative medicines for patients with genetic diseases and cancers. BridgeBio operates an integrated model that spans target identification, preclinical research, clinical development and commercialization, aiming to streamline the process from bench to bedside.

BridgeBio’s pipeline comprises multiple therapeutic modalities, including small molecules, biologics and genetic therapies.