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

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) have received a consensus recommendation of “Moderate Buy” from the twenty-four ratings firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-one have assigned a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $92.90.

BBIO has been the topic of a number of research analyst reports. Morgan Stanley boosted their price target on BridgeBio Pharma from $94.00 to $98.00 and gave the company an “overweight” rating in a report on Thursday, May 28th. Raymond James Financial lowered shares of BridgeBio Pharma from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 26th. Leerink Partners reaffirmed an “outperform” rating and set a $98.00 price objective on shares of BridgeBio Pharma in a research report on Thursday, March 12th. Citigroup began coverage on shares of BridgeBio Pharma in a report on Tuesday, May 19th. They issued a “neutral” rating and a $82.00 target price for the company. Finally, Royal Bank Of Canada started coverage on BridgeBio Pharma in a research note on Thursday, April 9th. They issued an “outperform” rating and a $100.00 price target for the company.

Insider Activity

In related news, CFO Thomas Trimarchi sold 13,651 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $65.08, for a total value of $888,407.08. Following the transaction, the chief financial officer owned 359,194 shares of the company’s stock, valued at approximately $23,376,345.52. This trade represents a 3.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Randal W. Scott sold 10,000 shares of BridgeBio Pharma stock in a transaction on Friday, May 15th. The stock was sold at an average price of $67.15, for a total transaction of $671,500.00. Following the transaction, the director owned 11,589 shares in the company, valued at $778,201.35. This represents a 46.32% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 266,361 shares of company stock worth $18,035,642. Insiders own 14.23% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Brooklands Fund Management Ltd purchased a new position in BridgeBio Pharma during the fourth quarter valued at approximately $210,348,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of BridgeBio Pharma by 144.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,828,746 shares of the company’s stock valued at $292,862,000 after purchasing an additional 2,261,181 shares during the last quarter. Janus Henderson Group PLC grew its holdings in BridgeBio Pharma by 25.8% during the 4th quarter. Janus Henderson Group PLC now owns 11,000,457 shares of the company’s stock valued at $841,349,000 after buying an additional 2,259,378 shares in the last quarter. Norges Bank bought a new stake in BridgeBio Pharma in the fourth quarter worth $116,802,000. Finally, Wellington Management Group LLP increased its holdings in shares of BridgeBio Pharma by 130.4% in the 4th quarter. Wellington Management Group LLP now owns 2,348,731 shares of the company’s stock worth $179,654,000 after buying an additional 1,329,537 shares during the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

BridgeBio Pharma Stock Performance

Shares of BridgeBio Pharma stock opened at $90.17 on Friday. The company has a fifty day moving average of $69.46 and a 200-day moving average of $72.03. BridgeBio Pharma has a 52-week low of $42.09 and a 52-week high of $93.42. The stock has a market capitalization of $17.66 billion, a price-to-earnings ratio of -24.11 and a beta of 0.95.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.84) EPS for the quarter, missing the consensus estimate of ($0.70) by ($0.14). The firm had revenue of $194.51 million during the quarter, compared to analysts’ expectations of $178.07 million. During the same quarter in the prior year, the company posted ($0.88) EPS. The company’s revenue for the quarter was up 66.8% on a year-over-year basis. On average, equities research analysts forecast that BridgeBio Pharma will post -2.29 earnings per share for the current fiscal year.

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.