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

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) have earned a consensus rating of “Moderate Buy” from the twenty-three brokerages that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating and twenty-two have issued a buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $82.50.

Several research firms recently issued reports on BBIO. Sanford C. Bernstein started coverage on shares of BridgeBio Pharma in a research report on Thursday, December 11th. They set an “outperform” rating and a $94.00 price target on the stock. Morgan Stanley boosted their price objective on shares of BridgeBio Pharma from $96.00 to $98.00 and gave the company an “overweight” rating in a research report on Wednesday, February 25th. Barclays started coverage on shares of BridgeBio Pharma in a report on Wednesday, January 28th. They issued an “overweight” rating for the company. JPMorgan Chase & Co. increased their price target on BridgeBio Pharma from $76.00 to $77.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of BridgeBio Pharma in a report on Wednesday, January 21st.

Insider Activity at BridgeBio Pharma

In other BridgeBio Pharma news, CAO Maricel Apuli sold 2,000 shares of the company’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $74.26, for a total transaction of $148,520.00. Following the sale, the chief accounting officer owned 130,297 shares of the company’s stock, valued at approximately $9,675,855.22. This represents a 1.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Andrea Ellis sold 64,921 shares of the company’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $64.87, for a total value of $4,211,425.27. Following the sale, the director owned 18,589 shares in the company, valued at approximately $1,205,868.43. The trade was a 77.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 229,095 shares of company stock valued at $16,247,760 over the last ninety days. Insiders own 18.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Corient Private Wealth LLC acquired a new position in BridgeBio Pharma during the 2nd quarter worth approximately $643,000. WINTON GROUP Ltd purchased a new position in BridgeBio Pharma during the 2nd quarter worth $3,856,000. Principal Financial Group Inc. increased its stake in BridgeBio Pharma by 23.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,267,412 shares of the company’s stock valued at $65,829,000 after buying an additional 236,885 shares during the last quarter. L & S Advisors Inc purchased a new stake in shares of BridgeBio Pharma during the third quarter valued at approximately $877,000. Finally, Federated Hermes Inc. increased its position in shares of BridgeBio Pharma by 53.0% during the 3rd quarter. Federated Hermes Inc. now owns 424,695 shares of the company’s stock valued at $22,059,000 after purchasing an additional 147,108 shares during the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

BridgeBio Pharma Stock Down 1.2%

BBIO stock opened at $65.36 on Friday. BridgeBio Pharma has a 52 week low of $28.33 and a 52 week high of $84.94. The business has a 50-day simple moving average of $73.64 and a 200 day simple moving average of $65.22. The company has a market cap of $12.67 billion, a PE ratio of -17.29 and a beta of 1.13.

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

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.