BridgeBio Pharma, Inc. (NASDAQ:BBIO) Given Average Rating of “Moderate Buy” by Analysts

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) have earned an average recommendation of “Moderate Buy” from the twenty-two research firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nineteen have assigned a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $97.3333.

A number of analysts have recently weighed in on the stock. Raymond James Financial lowered shares of BridgeBio Pharma from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 26th. Weiss Ratings reissued a “sell (d)” rating on shares of BridgeBio Pharma in a report on Friday, May 15th. Morgan Stanley upped their target price on BridgeBio Pharma from $94.00 to $98.00 and gave the stock an “overweight” rating in a research report on Thursday, May 28th. Truist Financial upped their target price on BridgeBio Pharma from $95.00 to $102.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Finally, Mizuho decreased their price target on BridgeBio Pharma from $106.00 to $96.00 and set an “outperform” rating for the company in a research note on Tuesday, June 16th.

BridgeBio Pharma Stock Up 0.2%

Shares of NASDAQ BBIO opened at $84.67 on Tuesday. BridgeBio Pharma has a fifty-two week low of $46.28 and a fifty-two week high of $93.42. The firm’s 50-day simple moving average is $76.07 and its 200 day simple moving average is $73.03. The stock has a market cap of $16.55 billion, a P/E ratio of -22.64 and a beta of 0.96.

BridgeBio Pharma (NASDAQ:BBIO) last announced its earnings results on Monday, August 10th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.20). The company had revenue of $243.68 million for the quarter, compared to analysts’ expectations of $220.91 million. The firm’s quarterly revenue was up 120.4% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.95) EPS. On average, sell-side analysts anticipate that BridgeBio Pharma will post -2.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other BridgeBio Pharma news, CEO Neil Kumar sold 40,000 shares of the business’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $67.46, for a total value of $2,698,400.00. Following the sale, the chief executive officer directly owned 535,686 shares in the company, valued at approximately $36,137,377.56. The trade was a 6.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jennifer E. Cook sold 148,589 shares of the company’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $88.54, for a total transaction of $13,156,070.06. Following the completion of the sale, the director directly owned 8,383 shares of the company’s stock, valued at $742,230.82. The trade was a 94.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 392,117 shares of company stock valued at $29,934,700. 14.23% of the stock is currently owned by insiders.

Institutional Trading of BridgeBio Pharma

A number of hedge funds and other institutional investors have recently made changes to their positions in BBIO. Global Retirement Partners LLC boosted its holdings in BridgeBio Pharma by 271.5% during the fourth quarter. Global Retirement Partners LLC now owns 509 shares of the company’s stock worth $39,000 after buying an additional 372 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of BridgeBio Pharma by 91.4% in the fourth quarter. Farther Finance Advisors LLC now owns 513 shares of the company’s stock valued at $39,000 after buying an additional 245 shares in the last quarter. Kemnay Advisory Services Inc. acquired a new stake in shares of BridgeBio Pharma during the 4th quarter valued at $41,000. Cary Street Partners Investment Advisory LLC lifted its position in shares of BridgeBio Pharma by 861.0% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 567 shares of the company’s stock valued at $43,000 after acquiring an additional 508 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. bought a new stake in shares of BridgeBio Pharma during the 4th quarter worth $44,000. 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.