BridgeBio Pharma, Inc. (NASDAQ:BBIO) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) have been assigned a consensus rating of “Moderate Buy” from the twenty-three analysts that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation and twenty-two have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $78.85.

Several equities analysts have recently commented on the stock. Piper Sandler boosted their price target on shares of BridgeBio Pharma from $93.00 to $98.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Morgan Stanley started coverage on BridgeBio Pharma in a research report on Tuesday, January 6th. They set an “overweight” rating and a $96.00 price objective for the company. Truist Financial upped their target price on BridgeBio Pharma from $80.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, January 8th. Raymond James Financial reiterated an “outperform” rating and set a $71.00 price target (up from $69.00) on shares of BridgeBio Pharma in a report on Thursday, October 30th. Finally, Leerink Partners increased their price objective on BridgeBio Pharma from $75.00 to $86.00 and gave the stock an “outperform” rating in a report on Monday, December 15th.

Insider Activity at BridgeBio Pharma

In other news, Director Andrew Lo sold 55,000 shares of the firm’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $65.69, for a total transaction of $3,612,950.00. Following the transaction, the director owned 50,583 shares in the company, valued at approximately $3,322,797.27. This trade represents a 52.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Neil Kumar sold 40,000 shares of BridgeBio Pharma stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $63.15, for a total transaction of $2,526,000.00. Following the completion of the sale, the chief executive officer directly owned 815,686 shares of the company’s stock, valued at approximately $51,510,570.90. The trade was a 4.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 587,215 shares of company stock worth $39,569,101 over the last quarter. 18.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new position in BridgeBio Pharma during the 2nd quarter valued at $84,488,000. Invesco Ltd. increased its holdings in shares of BridgeBio Pharma by 40.3% during the 3rd quarter. Invesco Ltd. now owns 3,928,657 shares of the company’s stock worth $204,054,000 after purchasing an additional 1,127,592 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of BridgeBio Pharma by 14,211.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 994,220 shares of the company’s stock worth $77,783,000 after purchasing an additional 987,273 shares during the period. Polar Capital Holdings Plc bought a new position in shares of BridgeBio Pharma during the 3rd quarter worth about $50,956,000. Finally, Wellington Management Group LLP raised its position in shares of BridgeBio Pharma by 1,698.5% during the third quarter. Wellington Management Group LLP now owns 1,019,194 shares of the company’s stock valued at $52,937,000 after buying an additional 962,525 shares during the last quarter. 99.85% of the stock is owned by institutional investors.

BridgeBio Pharma Price Performance

NASDAQ BBIO opened at $76.26 on Friday. The firm has a market capitalization of $14.70 billion, a price-to-earnings ratio of -18.24 and a beta of 1.17. The company has a 50 day simple moving average of $72.68 and a 200-day simple moving average of $58.67. BridgeBio Pharma has a 52-week low of $28.33 and a 52-week high of $79.88.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings data on Wednesday, October 29th. The company reported ($0.95) earnings per share for the quarter, missing the consensus estimate of ($0.88) by ($0.07). The business had revenue of $120.70 million for the quarter, compared to analysts’ expectations of $107.71 million. During the same quarter in the previous year, the company posted ($0.86) EPS. The business’s revenue for the quarter was up 4318.0% on a year-over-year basis. On average, analysts predict that BridgeBio Pharma will post -3.67 EPS for the current year.

BridgeBio Pharma Company Profile

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.