Truist Financial Raises BridgeBio Pharma (NASDAQ:BBIO) Price Target to $95.00

BridgeBio Pharma (NASDAQ:BBIO) had its target price boosted by Truist Financial from $86.00 to $95.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s target price points to a potential upside of 40.51% from the stock’s previous close.

Several other equities research analysts also recently weighed in on BBIO. Oppenheimer upped their target price on BridgeBio Pharma from $81.00 to $83.00 and gave the stock an “outperform” rating in a research report on Friday, February 13th. Barclays assumed coverage on shares of BridgeBio Pharma in a research note on Wednesday, January 28th. They set an “overweight” rating on the stock. Leerink Partners raised their price target on shares of BridgeBio Pharma from $75.00 to $86.00 and gave the company an “outperform” rating in a report on Monday, December 15th. Cantor Fitzgerald lifted their price target on shares of BridgeBio Pharma from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of BridgeBio Pharma in a research report on Wednesday, January 21st. Twenty-two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $82.50.

BridgeBio Pharma Stock Performance

NASDAQ BBIO opened at $67.61 on Wednesday. The firm has a market capitalization of $13.11 billion, a price-to-earnings ratio of -17.89 and a beta of 1.13. BridgeBio Pharma has a one year low of $28.33 and a one year high of $84.94. The company’s 50 day moving average price is $74.96 and its 200 day moving average price is $64.56.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings data on Tuesday, February 24th. The company reported ($1.00) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($0.25). The firm had revenue of $154.18 million for the quarter, compared to the consensus estimate of $150.71 million. The firm’s quarterly revenue was up 2521.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.40) earnings per share. Sell-side analysts forecast that BridgeBio Pharma will post -3.67 EPS for the current fiscal year.

Insider Activity at BridgeBio Pharma

In other news, CFO Thomas Trimarchi sold 13,600 shares of the company’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $74.72, for a total value of $1,016,192.00. Following the sale, the chief financial officer owned 336,585 shares in the company, valued at approximately $25,149,631.20. This represents a 3.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Maricel Apuli sold 510 shares of the business’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $74.31, for a total value of $37,898.10. Following the completion of the sale, the chief accounting officer directly owned 123,945 shares of the company’s stock, valued at approximately $9,210,352.95. This represents a 0.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 204,174 shares of company stock worth $15,012,335 over the last quarter. Company insiders own 18.20% of the company’s stock.

Hedge Funds Weigh In On BridgeBio Pharma

Hedge funds have recently added to or reduced their stakes in the business. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in BridgeBio Pharma during the second quarter valued at $25,000. Aster Capital Management DIFC Ltd bought a new position in BridgeBio Pharma in the third quarter worth about $31,000. Harvest Fund Management Co. Ltd acquired a new position in BridgeBio Pharma in the third quarter valued at approximately $34,000. Jones Financial Companies Lllp bought a new position in shares of BridgeBio Pharma during the first quarter valued at approximately $35,000. Finally, First Horizon Corp bought a new position in BridgeBio Pharma during the 3rd quarter worth $36,000. Institutional investors and hedge funds own 99.85% of the company’s stock.

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.