Mizuho Forecasts Strong Price Appreciation for BridgeBio Pharma (NASDAQ:BBIO) Stock

BridgeBio Pharma (NASDAQ:BBIO) had its price target upped by stock analysts at Mizuho from $91.00 to $106.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s price target points to a potential upside of 51.07% from the stock’s previous close.

Other equities analysts have also issued reports about the company. Truist Financial lifted their price objective on BridgeBio Pharma from $86.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Sanford C. Bernstein started coverage on BridgeBio Pharma in a research report on Thursday, December 11th. They set an “outperform” rating and a $94.00 price objective for the company. Wells Fargo & Company increased their target price on BridgeBio Pharma from $88.00 to $98.00 and gave the company an “overweight” rating in a research note on Friday, February 13th. Oppenheimer lowered their target price on BridgeBio Pharma from $83.00 to $81.00 and set an “outperform” rating on the stock in a report on Wednesday, February 25th. Finally, Leerink Partners reaffirmed an “outperform” rating and issued a $98.00 price target on shares of BridgeBio Pharma in a research report on Thursday, March 12th. Twenty-four analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $85.00.

BridgeBio Pharma Trading Up 0.1%

NASDAQ BBIO opened at $70.17 on Wednesday. BridgeBio Pharma has a 1 year low of $28.33 and a 1 year high of $84.94. The company has a fifty day simple moving average of $72.70 and a 200 day simple moving average of $66.50. The company has a market cap of $13.60 billion, a P/E ratio of -18.56 and a beta of 1.13.

BridgeBio Pharma (NASDAQ:BBIO) last announced its earnings results on Tuesday, February 24th. The company reported ($1.00) EPS for the quarter, missing the consensus estimate of ($0.75) by ($0.25). The company had revenue of $154.18 million for the quarter, compared to analysts’ expectations of $150.71 million. During the same quarter in the previous year, the business earned ($1.40) EPS. BridgeBio Pharma’s revenue for the quarter was up 2521.2% on a year-over-year basis. Equities research analysts forecast that BridgeBio Pharma will post -3.67 EPS for the current fiscal year.

Insider Buying and Selling at BridgeBio Pharma

In related news, CAO Maricel Apuli sold 510 shares of the 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 owned 123,945 shares in the company, valued at approximately $9,210,352.95. This trade represents a 0.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Thomas Trimarchi sold 13,600 shares of BridgeBio Pharma stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $74.72, for a total value of $1,016,192.00. Following the sale, the chief financial officer directly owned 336,585 shares in the company, valued at approximately $25,149,631.20. This trade represents a 3.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 237,084 shares of company stock valued at $16,608,419 in the last three months. Company insiders own 18.20% of the company’s stock.

Institutional Trading of BridgeBio Pharma

Several institutional investors have recently modified their holdings of the company. Rockefeller Capital Management L.P. raised its stake in shares of BridgeBio Pharma by 189.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 38,429 shares of the company’s stock valued at $2,939,000 after purchasing an additional 25,169 shares in the last quarter. Invesco Ltd. lifted its position in BridgeBio Pharma by 23.0% in the fourth quarter. Invesco Ltd. now owns 4,831,305 shares of the company’s stock worth $369,547,000 after purchasing an additional 902,648 shares during the period. Mackenzie Financial Corp boosted its stake in BridgeBio Pharma by 8.9% during the fourth quarter. Mackenzie Financial Corp now owns 54,495 shares of the company’s stock worth $4,105,000 after buying an additional 4,448 shares in the last quarter. XTX Topco Ltd increased its holdings in BridgeBio Pharma by 162.4% in the 4th quarter. XTX Topco Ltd now owns 13,169 shares of the company’s stock valued at $1,007,000 after buying an additional 8,150 shares during the period. Finally, VARCOV Co. bought a new stake in BridgeBio Pharma in the 4th quarter valued at $340,000. 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.