BridgeBio Pharma, Inc. (NASDAQ:BBIO) Stock Has Average Price Target of $104.26 According to Analysts

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) have earned an average recommendation of “Moderate Buy” from the twenty-two ratings firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and nineteen have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $104.42.

A number of research analysts have issued reports on the stock. UBS Group reissued a “buy” rating on shares of BridgeBio Pharma in a research note on Friday, October 30th. Citigroup dropped their price target on shares of BridgeBio Pharma from $94.00 to $91.00 and set a “neutral” rating on the stock in a research note on Monday, October 19th. Wells Fargo & Company lifted their target price on BridgeBio Pharma from $98.00 to $102.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. Mizuho boosted their price target on BridgeBio Pharma from $96.00 to $110.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 1st. Finally, Barclays decreased their price target on BridgeBio Pharma from $157.00 to $156.00 and set an “overweight” rating for the company in a research note on Wednesday, October 7th.

Insider Transactions at BridgeBio Pharma

In other BridgeBio Pharma news, CEO Neil Kumar sold 34,980 shares of the business’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $82.53, for a total transaction of $2,886,899.40. Following the sale, the chief executive officer directly owned 243,327 shares in the company, valued at approximately $20,081,777.31. The trade was a 12.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Maricel Apuli sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, October 30th. The stock was sold at an average price of $72.85, for a total transaction of $145,700.00. Following the completion of the sale, the chief accounting officer directly owned 120,687 shares of the company’s stock, valued at approximately $8,792,047.95. This represents a 1.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 56,980 shares of company stock valued at $4,563,699 in the last quarter. 14.23% of the stock is currently owned by insiders.

Hedge Funds Weigh In On BridgeBio Pharma

Several large investors have recently made changes to their positions in BBIO. Silvant Capital Management LLC bought a new stake in shares of BridgeBio Pharma in the 2nd quarter worth approximately $28,000. Allworth Financial LP acquired a new position in BridgeBio Pharma in the second quarter worth approximately $31,000. Root Financial Partners LLC acquired a new position in BridgeBio Pharma in the third quarter worth approximately $28,000. SBI Securities Co. Ltd. increased its holdings in shares of BridgeBio Pharma by 55.3% in the third quarter. SBI Securities Co. Ltd. now owns 441 shares of the company’s stock valued at $29,000 after buying an additional 157 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of BridgeBio Pharma in the second quarter valued at $44,000. Institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Stock Performance

Shares of BBIO traded up $0.13 during midday trading on Thursday, hitting $78.30. 1,149,311 shares of the stock traded hands, compared to its average volume of 3,063,762. The business’s 50 day moving average price is $69.98 and its two-hundred day moving average price is $72.79. The firm has a market capitalization of $15.25 billion, a PE ratio of -25.76 and a beta of 0.97. BridgeBio Pharma has a 1-year low of $62.50 and a 1-year high of $93.42.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings data on Thursday, October 29th. The company reported ($0.42) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.12. The firm had revenue of $353.17 million during the quarter, compared to analyst estimates of $293.47 million. During the same period last year, the business earned ($0.95) EPS. The firm’s revenue was up 192.6% on a year-over-year basis. As a group, equities research analysts forecast that BridgeBio Pharma will post -2.55 EPS for the current fiscal year.

About BridgeBio Pharma

BridgeBio Pharma is a biopharmaceutical company that discovers, develops and commercializes medicines for genetic diseases and cancers. Founded in 2015, the company advances programs through a network of research and development subsidiaries focused on specific conditions and therapeutic areas. Its products include Attruby (acoramidis), an FDA-approved treatment for adults with transthyretin amyloid cardiomyopathy. BridgeBio also develops a pipeline of investigational therapies aimed at diseases with well-understood genetic causes, including rare and inherited conditions.