BridgeBio Pharma, Inc. (NASDAQ:BBIO) Receives Average Recommendation of “Moderate Buy” from Brokerages

BridgeBio Pharma, Inc. (NASDAQ:BBIO) has been given an average recommendation of “Moderate Buy” by the twenty-three analysts that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating and twenty-two have given a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $79.05.

Several research analysts have issued reports on the company. Wells Fargo & Company raised their target price on BridgeBio Pharma from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of BridgeBio Pharma in a report on Wednesday, January 21st. HC Wainwright reaffirmed a “buy” rating and set a $90.00 target price on shares of BridgeBio Pharma in a report on Monday, November 3rd. Sanford C. Bernstein assumed coverage on shares of BridgeBio Pharma in a research report on Thursday, December 11th. They issued an “outperform” rating and a $94.00 price target on the stock. Finally, Evercore reissued an “outperform” rating on shares of BridgeBio Pharma in a research report on Monday, October 27th.

Insider Activity at BridgeBio Pharma

In other BridgeBio Pharma news, CEO Neil Kumar sold 40,000 shares of the business’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $74.40, for a total transaction of $2,976,000.00. Following the completion of the sale, the chief executive officer owned 775,686 shares of the company’s stock, valued at approximately $57,711,038.40. The trade was a 4.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Randal W. Scott sold 10,000 shares of the company’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $66.65, for a total value of $666,500.00. Following the completion of the sale, the director owned 11,589 shares of the company’s stock, valued at approximately $772,406.85. The trade was a 46.32% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 286,184 shares of company stock valued at $19,840,799 in the last ninety days. Corporate insiders own 18.20% of the company’s stock.

Hedge Funds Weigh In On BridgeBio Pharma

Several large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position in shares of BridgeBio Pharma by 12.9% in the fourth quarter. Geode Capital Management LLC now owns 4,412,523 shares of the company’s stock worth $344,689,000 after purchasing an additional 502,582 shares during the period. Cary Street Partners Investment Advisory LLC raised 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 purchasing an additional 508 shares during the period. Fisher Asset Management LLC purchased a new position in shares of BridgeBio Pharma during the 4th quarter valued at $17,776,000. Swedbank AB bought a new position in BridgeBio Pharma in the 4th quarter worth $2,111,000. Finally, Coldstream Capital Management Inc. purchased a new stake in BridgeBio Pharma in the 4th quarter worth $243,000. Hedge funds and other institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Price Performance

BBIO stock opened at $72.29 on Tuesday. BridgeBio Pharma has a 1 year low of $28.33 and a 1 year high of $81.32. The company has a market cap of $13.93 billion, a P/E ratio of -17.29 and a beta of 1.13. The stock’s fifty day moving average price is $75.54 and its 200-day moving average price is $62.53.

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.