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

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) have earned an average rating of “Moderate Buy” from the twenty-four ratings firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation and twenty-three have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $86.75.

Several equities research analysts have issued reports on the company. HC Wainwright increased their price target on BridgeBio Pharma from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, February 17th. Barclays restated an “overweight” rating on shares of BridgeBio Pharma in a report on Tuesday, March 10th. TD Cowen reaffirmed a “buy” rating on shares of BridgeBio Pharma in a research report on Monday, January 12th. Sanford C. Bernstein began coverage on shares of BridgeBio Pharma in a research note on Thursday, December 11th. They issued an “outperform” rating and a $94.00 target price for the company. Finally, JPMorgan Chase & Co. increased their target price on BridgeBio Pharma from $89.00 to $94.00 and gave the stock an “overweight” rating in a report on Tuesday, March 10th.

BridgeBio Pharma Stock Up 7.1%

Shares of NASDAQ BBIO opened at $74.26 on Wednesday. BridgeBio Pharma has a twelve month low of $28.33 and a twelve month high of $84.94. The stock has a market cap of $14.40 billion, a price-to-earnings ratio of -19.65 and a beta of 1.13. The company’s fifty day moving average is $71.65 and its 200-day moving average is $67.73.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings data on Tuesday, February 24th. The company reported ($1.00) EPS for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.25). The company had revenue of $154.18 million for the quarter, compared to analyst estimates of $150.71 million. The firm’s quarterly revenue was up 2521.2% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.40) EPS. On average, research analysts anticipate that BridgeBio Pharma will post -3.67 EPS for the current fiscal year.

Insider Activity at BridgeBio Pharma

In other BridgeBio Pharma news, CAO Maricel Apuli sold 510 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $74.31, for a total value of $37,898.10. Following the sale, the chief accounting officer owned 123,945 shares in the company, valued at approximately $9,210,352.95. The trade was a 0.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Neil Kumar sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $71.94, for a total value of $2,877,600.00. Following the transaction, the chief executive officer directly owned 695,686 shares of the company’s stock, valued at approximately $50,047,650.84. This trade represents a 5.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 237,084 shares of company stock valued at $16,608,419 over the last ninety days. Company insiders own 18.20% of the company’s stock.

Institutional Trading of BridgeBio Pharma

Institutional investors have recently made changes to their positions in the business. Aster Capital Management DIFC Ltd acquired a new position in BridgeBio Pharma during the third quarter worth $31,000. Harvest Fund Management Co. Ltd acquired a new stake in BridgeBio Pharma in the 3rd quarter valued at $34,000. Jones Financial Companies Lllp acquired a new stake in BridgeBio Pharma in the 1st quarter valued at $35,000. First Horizon Corp bought a new stake in BridgeBio Pharma during the 3rd quarter worth about $36,000. Finally, Huntington National Bank lifted its position in BridgeBio Pharma by 111.7% during the 3rd quarter. Huntington National Bank now owns 743 shares of the company’s stock worth $39,000 after buying an additional 392 shares in the last quarter. Institutional investors own 99.85% of the company’s stock.

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.