BridgeBio Pharma (NASDAQ:BBIO) Coverage Initiated at Barclays

Stock analysts at Barclays initiated coverage on shares of BridgeBio Pharma (NASDAQ:BBIO) in a research note issued to investors on Wednesday, MarketBeat.com reports. The brokerage set an “overweight” rating on the stock.

Other research analysts have also issued reports about the company. JPMorgan Chase & Co. increased their price objective on BridgeBio Pharma from $76.00 to $77.00 and gave the company an “overweight” rating in a report on Friday, November 7th. The Goldman Sachs Group upped their target price on BridgeBio Pharma from $55.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Raymond James Financial reissued an “outperform” rating and set a $71.00 price target (up from $69.00) on shares of BridgeBio Pharma in a research report on Thursday, October 30th. Piper Sandler lifted their price objective on shares of BridgeBio Pharma from $93.00 to $98.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Finally, TD Cowen reiterated a “buy” rating on shares of BridgeBio Pharma in a research note on Monday, January 12th. Twenty-two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, BridgeBio Pharma has a consensus rating of “Moderate Buy” and a consensus target price of $79.05.

BridgeBio Pharma Trading Up 2.1%

NASDAQ BBIO opened at $79.10 on Wednesday. BridgeBio Pharma has a 12-month low of $28.33 and a 12-month high of $81.32. The company has a fifty day simple moving average of $75.21 and a two-hundred day simple moving average of $61.00. The stock has a market cap of $15.24 billion, a P/E ratio of -18.92 and a beta of 1.17.

BridgeBio Pharma (NASDAQ:BBIO) last released its earnings results on Wednesday, October 29th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.88) by ($0.07). The company had revenue of $120.70 million during the quarter, compared to analysts’ expectations of $107.71 million. BridgeBio Pharma’s revenue for the quarter was up 4318.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.86) earnings per share. As a group, sell-side analysts forecast that BridgeBio Pharma will post -3.67 earnings per share for the current year.

Insider Activity at BridgeBio Pharma

In other news, CAO Maricel Apuli sold 2,000 shares of the firm’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $74.26, for a total transaction of $148,520.00. Following the sale, the chief accounting officer directly owned 130,297 shares in the company, valued at $9,675,855.22. This trade represents a 1.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Thomas Trimarchi sold 16,934 shares of the company’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $66.46, for a total value of $1,125,433.64. Following the completion of the transaction, the chief financial officer directly owned 382,830 shares of the company’s stock, valued at $25,442,881.80. The trade was a 4.24% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 387,215 shares of company stock valued at $26,255,694 in the last quarter. 18.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Comerica Bank lifted its position in shares of BridgeBio Pharma by 10.7% during the 4th quarter. Comerica Bank now owns 52,480 shares of the company’s stock valued at $4,014,000 after buying an additional 5,084 shares in the last quarter. Pictet Asset Management Holding SA lifted its holdings in BridgeBio Pharma by 12.1% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,270,290 shares of the company’s stock valued at $96,956,000 after purchasing an additional 136,939 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its position in shares of BridgeBio Pharma by 159.6% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 28,211 shares of the company’s stock valued at $2,158,000 after purchasing an additional 17,343 shares during the period. Serenus Wealth Advisors LLC purchased a new stake in shares of BridgeBio Pharma during the fourth quarter worth about $229,000. Finally, M&T Bank Corp purchased a new stake in shares of BridgeBio Pharma during the fourth quarter worth about $29,680,000. 99.85% of the stock is owned by institutional investors and hedge funds.

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.