BridgeBio Pharma (NASDAQ:BBIO) Now Covered by Analysts at Citigroup

Investment analysts at Citigroup initiated coverage on shares of BridgeBio Pharma (NASDAQ:BBIO) in a report issued on Tuesday. The firm set a “neutral” rating and a $82.00 price target on the stock. Citigroup’s target price points to a potential upside of 25.54% from the company’s current price.

A number of other research analysts have also weighed in on BBIO. Truist Financial lifted their price objective on shares of BridgeBio Pharma from $95.00 to $102.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Morgan Stanley lifted their price objective on shares of BridgeBio Pharma from $96.00 to $98.00 and gave the company an “overweight” rating in a report on Wednesday, February 25th. Wells Fargo & Company lifted their price objective on shares of BridgeBio Pharma from $88.00 to $98.00 and gave the company an “overweight” rating in a report on Friday, February 13th. HC Wainwright lifted their price objective on shares of BridgeBio Pharma from $100.00 to $110.00 and gave the company a “buy” rating in a report on Monday, May 11th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of BridgeBio Pharma in a report on Friday. Twenty-three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, BridgeBio Pharma presently has a consensus rating of “Moderate Buy” and an average price target of $88.90.

BridgeBio Pharma Stock Down 1.2%

Shares of NASDAQ BBIO opened at $65.32 on Tuesday. The firm has a market cap of $12.79 billion, a PE ratio of -17.47 and a beta of 1.02. BridgeBio Pharma has a 12-month low of $31.77 and a 12-month high of $84.94. The company’s fifty day simple moving average is $71.36 and its 200 day simple moving average is $71.80.

BridgeBio Pharma (NASDAQ:BBIO) last issued its earnings results on Thursday, May 7th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.70) by ($0.14). The company had revenue of $194.52 million for the quarter, compared to analyst estimates of $178.07 million. The firm’s quarterly revenue was up 66.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.88) earnings per share. On average, equities analysts predict that BridgeBio Pharma will post -2.27 earnings per share for the current year.

Insider Activity at BridgeBio Pharma

In related news, CAO Maricel Apuli sold 2,000 shares of the firm’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $71.58, for a total transaction of $143,160.00. Following the transaction, the chief accounting officer directly owned 134,115 shares of the company’s stock, valued at $9,599,951.70. This trade represents a 1.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Neil Kumar sold 40,000 shares of the firm’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $67.90, for a total transaction of $2,716,000.00. Following the transaction, the chief executive officer directly owned 575,686 shares in the company, valued at $39,089,079.40. The trade was a 6.50% 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 have sold 214,974 shares of company stock valued at $14,807,289 over the last ninety days. Corporate insiders own 14.23% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. L & S Advisors Inc bought a new position in shares of BridgeBio Pharma during the third quarter valued at about $877,000. Principal Financial Group Inc. raised its position in BridgeBio Pharma by 23.0% in the third quarter. Principal Financial Group Inc. now owns 1,267,412 shares of the company’s stock worth $65,829,000 after acquiring an additional 236,885 shares during the period. TD Asset Management Inc bought a new stake in BridgeBio Pharma in the third quarter worth about $4,620,000. Allspring Global Investments Holdings LLC raised its position in BridgeBio Pharma by 14,211.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 994,220 shares of the company’s stock worth $77,783,000 after acquiring an additional 987,273 shares during the period. Finally, Central Pacific Bank Trust Division bought a new stake in BridgeBio Pharma in the fourth quarter worth about $789,000. 99.85% of the stock is 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.