Analysts Set BridgeBio Pharma, Inc. (NASDAQ:BBIO) Price Target at $82.50

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) have earned an average rating of “Moderate Buy” from the twenty-three ratings firms that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating and twenty-two have assigned a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $82.50.

A number of brokerages recently weighed in on BBIO. Truist Financial increased their price objective on shares of BridgeBio Pharma from $86.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Oppenheimer cut their target price on shares of BridgeBio Pharma from $83.00 to $81.00 and set an “outperform” rating for the company in a research report on Wednesday, February 25th. TD Cowen reiterated a “buy” rating on shares of BridgeBio Pharma in a research note on Monday, January 12th. Raymond James Financial set a $89.00 price target on BridgeBio Pharma and gave the company an “outperform” rating in a report on Thursday, February 12th. Finally, Morgan Stanley raised their price target on BridgeBio Pharma from $96.00 to $98.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 25th.

BridgeBio Pharma Stock Performance

Shares of NASDAQ:BBIO opened at $65.64 on Friday. BridgeBio Pharma has a fifty-two week low of $28.33 and a fifty-two week high of $84.94. The business has a 50-day simple moving average of $73.44 and a two-hundred day simple moving average of $65.56. The firm has a market cap of $12.72 billion, a price-to-earnings ratio of -17.37 and a beta of 1.13.

BridgeBio Pharma (NASDAQ:BBIO) last posted its earnings results on Tuesday, February 24th. The company reported ($1.00) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($0.25). The business had revenue of $154.18 million for the quarter, compared to analyst estimates of $150.71 million. During the same quarter in the prior year, the company earned ($1.40) EPS. The business’s revenue for the quarter was up 2521.2% on a year-over-year basis. As a group, research analysts predict that BridgeBio Pharma will post -3.67 earnings per share for the current year.

Insider Buying and Selling

In other BridgeBio Pharma news, Director Randal W. Scott sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $75.46, for a total value of $754,600.00. Following the transaction, the director directly owned 11,589 shares of the company’s stock, valued at approximately $874,505.94. This trade represents a 46.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Andrea Ellis sold 64,921 shares of the business’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $64.87, for a total value of $4,211,425.27. Following the sale, the director owned 18,589 shares of the company’s stock, valued at approximately $1,205,868.43. This represents a 77.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 227,095 shares of company stock valued at $16,099,240 in the last 90 days. Insiders own 18.20% of the company’s stock.

Institutional Trading of BridgeBio Pharma

Several large investors have recently added to or reduced their stakes in BBIO. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in BridgeBio Pharma in the second quarter worth approximately $25,000. Aster Capital Management DIFC Ltd purchased a new position in shares of BridgeBio Pharma during the 3rd quarter worth $31,000. Harvest Fund Management Co. Ltd bought a new stake in shares of BridgeBio Pharma during the 3rd quarter valued at $34,000. Jones Financial Companies Lllp purchased a new stake in shares of BridgeBio Pharma in the 1st quarter worth $35,000. Finally, First Horizon Corp purchased a new stake in shares of BridgeBio Pharma in the 3rd quarter worth $36,000. 99.85% of the stock is currently owned by 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.